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USDNOK pair is barely staying at an even level
USDNOK pair is barely staying at an even level
The rate of the Norwegian Krone has strengthened and has been in a sideways movement for a long time. The fall in prices keeps the level at 8.6000 and nothing more. The closest support level is 200 simple moving average on the daily chart. Therefore, you can set a target of 500 pips.
Symbol: USDNOK
Order Type: Pending Order - Sell Stop
Entry Price at 8.6000
Take Profit at 8.5500
Pips Earning: 500
Forex trade strategy for major currency pairs:
EURUSD buy at the price of 1.1830
USDJPY sell at the price of 109.95
GBPUSD buy at the price of 1.3885
USDCHF buy at the price of 0.9225
The profit can be $593.82 if the trading volume of 100000 USD (1 Lot).
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