USDNOK - Sell Opportunity After Support Break
USDNOK recently broke through a significant support level, creating an opportunity for further bearish movement. The market is now retesting this level. A rejection off this area could push the price lower toward the 11.08069 level, confirming the breakout's strength. Conversely, a failure to hold resistance could indicate a continuation of the bullish trend.Traders should look for bearish confirmation signals, such as bearish engulfing candles or increasing sell volume, before entering short positions.
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