Trading strategy and signals for the currency pair USDNOK 4-4-2017 by AzaForex forex broker, how to handle your foreign exchange market account

Find the information you need to succeed on the foreign exchange market.
Norwegian krone NOK is not a common trading tool and you will not find it easy with any forex broker. But AzaForex broker has it in its arsenal of currencies. Today we are watching its dynamics against the USD dollar. The crown rate is always pressured by the cost of energy, because Norway is the largest oil exporter in its region and this is the first thing that should be taken into account when working with this currency. The graph of this pair clearly shows the strengthening of the dollar, which is why we recommend NOK for sale. The krone NOK is in a falling trend and we do not advise players to go against the market. We set a target of 600 points and this is not much in relation to the main trend. When most traders trade the most common currency pairs in the forex market, our analysts are looking for good opportunities for investors on all schedules. The more trading tools in the trader's arsenal, the greater the likelihood of its profitable trading outcome.


The price is above a simple moving average 200 MA and 20 MA indicating bullish trend.
The MACD trend indicator is above zero level now, indicating bullish movement.

If the resistance level is broken you can use the following recommendation:
•    Chart timeframe: Day
•    The trade recommendation: Buy
•    The level of entry into long position: 8.6400
•    The level of profit and close the position: 8.7000 (600 pips)

Precious metal GOLD 
Opportunity to buy if the price crosses the resistance level 1261

Forex currency pair GBPUSD
Opportunity for sale if the price crosses the support level 1.2400

Forex currency pair USDJPY
Opportunity for sale if the price crosses the support level 110.30

Forex currency pair EURUSD 
Opportunity for sale if the price crosses the support level 1.0620