Revisiting USD/NOK

For now, let’s revisit one final currency pair.

The USD/NOK.

This one in particular, had the most compelling signs on a reversal, yet I think many forex traders failed to see it.

Think convergence and divergence.

So this pair reversed around 9.000, almost on the dot, before oil prices turned around from its lows, and it’s now trading at 8.6547.

Did you catch it?

If not, and you’re looking to get in at this point, it’s safer (and more profitable) to wait for a correction, before jumping on the slide.

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