NOK Uptrend Breakdown + August Bullish for Oil
The USD/NOK pair recently finished the upward move it began in mid May, which we previously traded successfully. The pair has now executed a bearish crossover and looks to retest lower levels such as 8.45 or even resume the prior secular downtrend.
August is historically a bullish month for petroleum prices, which directly influence the NOK, so we should have a tailwind at our back. fxstreet.com/analysis/usd-nok-is-following-oil-and-the-us-dollar-202004071800
August is historically a bullish month for petroleum prices, which directly influence the NOK, so we should have a tailwind at our back. fxstreet.com/analysis/usd-nok-is-following-oil-and-the-us-dollar-202004071800
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8.81 Short
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.