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USD/NOK shows indecisive pattern

Trend momentum has stalled with the emergence of a Northern doji pattern on the USD/NOK weekly chart.

This candlestick pattern usually changes the market's short-term trend from up to neutral, but with the RSI above 60% on this time interval, the likelihood of a reversal from overbought territory increases.

Additionally, an ADX above 30 is indicative of a persistent trend at least. Reactions to this signal can take the form of traders liquidating longs, selling calls, and trailing up stops.

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