USDNOK 19 Dec 2023 on the Daily timeframe. The pair has been bearish since last week after being unable to climb through the kumo cloud on the ichimoku indicator. It fell from the price position of 10.95878 to the price position of 10.38290 after trying to initiate a bullish trend again. If referring to the stochastic indicator, it appears that it has been oversold which allows a trend reversal to occur. If the bullish trend continues then go-long could be an option. But if the pair fails and goes bearish again, then go-short is an option. Learn many indicators before making trading decisions.
