recently saw downside after coming into a key weekly trendline
resistance combined with the Norges Bank (the central bank
) talking about the potential to hike interest rates in 2019 as their economy continues to grow. Looking to the USDNOK
pair technically we can see the market created new lows after rejecting the weekly trendline
resistance. Using our Fibonacci from swing high to swing low we can see the 38.2 Fib lines up with our key horizontal resistance making it a great place to look for continuation short.