OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/NOK momentum switched to negative

Increased downward momentum in the USD/NOK has brought the 4hr MACD to step in the red zone.

This technical condition would certainly not be of much help if the MACD hasn't been under zero for at least one week of trading. This reinforces the argument that room for further USD/NOK depreciation is there.

The signal may be either taken by trend-following traders as a trigger to liquidate long positions as by potential sellers to prepare their short commitments.

South Korea Current Account Balance declined to 7.19B in October from previous 9.76B

South Korea Current Account Balance declined to 7.19B in October from previous 9.76B
Read more Previous

Aussie GDP Q3 - what to expect in AUD/USD?

AUD/USD has been making a strong recovery from the Nov lows circa 0.7010 and has recently garnered demand right through the cluster of hourly SMA's in a softer greenback. A series of data has been supportive of the Aussie of late against the backdrop of a bullish and an 'on-hold' RBA who are sighting a robust enough economy in the face of an otherwise lagging Global economy, despite actual conditions being lack luster with major headwinds in the downturn of investments in the mining sector.
Read more Next
Start livechat