peterbokma

USDNOK-BUY strategy 4-hourly chart

Long
FX:USDNOK   U.S. Dollar/Norwegian Krone
The pair has declined as expected, and likely has little more room below 10.3500. the stochastic is not showing convincing direction, and RSI is negative, suggesting further downside potential.

It is not a short right now, as the better strategy is BUY at the right level.

Strategy BUY @ 10.3050-10.3150 and take profit near 10.4500. The SL I feel somewhere 10.2750.

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