The USDNOK bears being watched closely. It has had a long ride up and might be ready to surprise traders.
Updated USDNOK Charts (12 May 2022)
Are you looking for a technical sell setup in USDNOK? If so, then you’ll want to check out the pivot points setup we’re watching. This could lead to some profitable trading opportunities!
There is a strong possibility that we could see the USDNOK take a turn down soon.
The best way to trade this situation is to look for selling opportunities. If the USDNOK does breakout to new highs or decide to reverse course and head down, then there could be some very profitable forex trading opportunities available. So keep an eye on the USDNOK this week!
I want to share my USDNOK ideas that may bring in beautiful Pips to your forex account.
Why I think the USDNOK is going Bearish
The USDNOK had been steadily moving down from March 14 to March 30 where it reversed course and has moved up in a choppy fashion. It seems it is ready for a retracement down.
- The RSI and ADX agree that the trend is bearish for this pair. The Zigzag Channel shows that this pair has hit the median and is preparing to retrace down. It may continue up a few more candles, however the long term seems to be bearish for now.
- My analysis on the 4 Hour chart in Smarttrader shows a target of 9.1674 for those who want to ride the USDNOK elevator down to the .382 at 9.315 giving 536 pips. Coming down to the .786 at 9.1719 will provide 728 pips.
- The Pivot Super Trend is almost at the end of a long bullish ride. Careful monitoring of this pair to take advantage of a trend reversal down when it is ready.
My profit target is: 9.63.
What are the forex experts saying about the USDNOK prediction?
Bullish USDNOK price forecast
Type : Bullish
Timeframe : Weekly
What will be the price of the USDNOK in the next months?
Bearish USDNOK prediction
- Bearish 1-year forecast for the USDNOK to 8.708
- Bearish 5-year forecast
USDNOK is a tremendous currency pair that offers great potential for profits.
Bearish long-term forecast for the USDNOK
USDNOK is a great currency pair to trade because it has a high volatility. This means that there is potential for large profits if you trade wisely.
At what level is the USDNOK price Expected to Rise?
According to Gov Capital, the USDNOK currency pair is expected to reach 54.54565 in 2027
At what price is USDNOK price expected to drop?
The least possible price of the USDNOK may be 7.71375 in February 2023, according to GovCapital.
What to do next?
It’s time to boost your trading account with some signals that I really believe in. I also shared the best trading ideas for Gold – the charts are updated frequently. Let me know your thoughts.
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