USD/NOK 4H Chart: Double Bottom

Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/NOK has formed a double bottom pattern on the 4H chart, after falling from level around 6.28, currently trading at 5.93, just several pips below the pattern's resistance line. Even though the pair has not been highly volatile during the last several trading sessions, it can become very profitable in case of an upside or downside breakout. At the moment of writing, technical indicators were not univocal, while market sentiment is not clearly market, therefore, we would recommend to wait until the pair will be approaching any of the trend lines.
© Dukascopy Bank SA
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