USD/NOK currency pair analysis

The trend is descendant. The ascendant wave structure is truncated. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.

Watch USD/NOK online

Trade idea:

Sell when the descendant wave structure forms, where the wave (A) breaches through the inclined channel of the ascendant truncated structure.

Stop-loss is beyond the local maximum of the ascendant structure.

Target levels: 8.8300; 8.7800.