USDNOK – Broke the upper extreme of the range

Earlier this week the USDNOK was trading close to an important LT level, and as you already know, when the market trades close to an important LT level, it forms a range in the short term charts, and we need to wait for the market to break that range before looking for trade opportunities. Well, it just broke the top of the range:

This triggered a bullish condition and long opportunities are in play. As long as the USDNOK trades above 5.4357 I’ll be looking for long opportunities.

The next LT resistance level is at 5.5845

Trade Safe!

Raul Lopez
Forex Education

Tags:


Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .