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USDNOK

USO vs. USDNOK + divergence in Cash rate.Divergence in cash rate policy between US and Norway, creates an opportunity for shorting the pair. US is expected to cut its rate, while slower economic growth is waiting to hit the dollar. Norway's economy is doing great, and therefore they expect to increase the cash rate. also looking at USO vs the pair, as it have been highly diverge against each other. could though see oil lower as we are in driving season and a build is occurring, which means demand is low. entering on spot, with a hedge until a reasonable level to enter net short position for USDNOK. Happy trade :)
TVC:USOILShort
by Fx-AlphaStrats
USD/NOK BEARISH AB=CD 0.786Hello USD/NOK giving usd clear bearish AB=CD pattern which is confirmed by two harmonic calculations. It is projection AB ending around 0.786 fib and BC projection 1.618. We have multiple rejection to push price above 8.78 area but be aware price can pump and immediately drop. Target should be brown boxes at the chart. 1) 8.664-8681 2) 8.59-8.61 Stop above 8.802 Good luck Dont forget to manage your position and set alerts in case quick moves. If you are advanced trader you can ladder up.
Short
by MichalMajzlik