OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/NOK sticking to tight trading ranges

The USD/NOK hourly chart is not very telling: the pair lacks price direction and also volatility.

Notice the 50-SMA has slipped between the 200- and the 800-period SMAs, denoting an absence of a strong trend. The ADX tracking below 30 at the moment signals the same sideways condition.

The prospect for the building of triangles, rectangles, and pennants looks to be quite realistic. Traders may also opt to capitalize on divergences between price and oscillators.

EUR/USD faces strong barrier at 1.16 – Westpac

In the opinion of strategists at Westpac, the pair’s upside could face strong resistance in the 1.16 neighbourhood...
Read more Previous

USD/JPY sees its volatility dampen

USD/JPY sees its volatility dampen
Read more Next
Start livechat