USD/NOK 1H Chart: Ascending Triangle

Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/NOK is on the verge of a massive sell-off that is confirmed by various factors. Firstly, the pair is trading slightly below the lower-trend line of the 421-bar long ascending triangle pattern at a time when the instrument almost approached the apex. Secondly, the likelihood of a bearish exit is supported by traders who bet on depreciation of the pair in almost 75% of cases, showed the SWFX data. On the basis of the above, now is the right time to profit from USD/NOK moves as we are the most likely to observe a sharp decline in the hours to come.
© Dukascopy Bank SA
Back to articles

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.