Short-term Trading Idea FX USD/NOK – Bull Specualtion: Bounce from Trend Line

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Trading opportunities for currency pair: In this idea I consider the technical signals – a bounce from the trend line. The USD/NOK has bounced from the line which goes from 6.1720 (22/08/14) and 7.2885 (15/05/15). The body of Friday’s candle fully covered that of Thursday. A similar situation was seen on 18/09/15. This is a bull signal (as on 18/09/15) so we need to keep an eye on the price of oil on Monday If oil continues to fall and the dollar continues to rise then a fall in oil to $32.40

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