USDNOK kissed top of downward channel, opportunity to sell high
Pros:
Fundamental view: USDNOK spot price overvalued by 42% (Citi's WERM model based on Real Effective Exchange Rates)
Technical:
- Top of downward D1 channel
- Big shadow on D1 candle
Cons:
- ahead of NFP data (big volatility)
- retail traders position: 76% are short on USDNOK
Fundamental view: USDNOK spot price overvalued by 42% (Citi's WERM model based on Real Effective Exchange Rates)
Technical:
- Top of downward D1 channel
- Big shadow on D1 candle
Cons:
- ahead of NFP data (big volatility)
- retail traders position: 76% are short on USDNOK