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USD/NOK - Looking Like A Technical Knock-out (TKO)

USD/NOK - Looking Like A Technical Knock-out (TKO)

Paul Robinson,

Talking Points:

  • USDNOK spike high tested on two different occasions, failed both times
  • ‘Head-and-shoulders’ pattern with a lower low/lower high sequence in place
  • Pattern height points to 70500 target, trend-line in the 74000’s to contend with first
  • Broad USD weakness will bolster the bears case…

USDNOK Daily: Jul ’14 – Present

--- Written by Paul Robinson, DailyFX Research

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.