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

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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