USD/NOK Trading Analysis (26/09/2024)

The trend is down. The upward wave structure is truncated. The pair is trading between 365 and 135 EMAs. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought condition.

Trading idea:

• Sell at the beginning of the formation of the descending wave structure, when wave A breaks the sloping channel of the ascending wave structure.
• Stop-loss at the local maximum of the rising truncated structure.
• Targets at 10.5000 and 10.3850.

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