USDNOK has been in a strong uptrend so far this year. However the recent move up seems a bit strechted as the sellers did find som ground on monday with a ''doji-formation''. Furthermore, we did see another larger sell-off yesterday which confirms the possibility for a shortterm top in this pair.
Stoch RSI is also on elevated levels and have a possible bearish crossover, while RSI have lower highs and a clear divergence between momentum and price.
In this matter, the risk/reward seems good to take a short-position. Stop should be set to 8.60 while target price is set to 8.30.
Stoch RSI is also on elevated levels and have a possible bearish crossover, while RSI have lower highs and a clear divergence between momentum and price.
In this matter, the risk/reward seems good to take a short-position. Stop should be set to 8.60 while target price is set to 8.30.