It is not the easiest pair to trade, but a rewarding one when right.
The pair has climbed a lot due to NOK interest rate increase, and adverse USDZAR movement, which was expected, whilst a higher GOLD price.
The idea is that the USDNOK will recover upwards and/or USDZAR will decrease again.
Strategy SELL @ 1.8110-1.8150 and place SL above 1.8300 (if one can bear it), and take profit near 1.7950.
The pair has climbed a lot due to NOK interest rate increase, and adverse USDZAR movement, which was expected, whilst a higher GOLD price.
The idea is that the USDNOK will recover upwards and/or USDZAR will decrease again.
Strategy SELL @ 1.8110-1.8150 and place SL above 1.8300 (if one can bear it), and take profit near 1.7950.