USDNOK moving down

USDNOK has peaked for now, above is weekly chart. At least another week of loss before attempting another high. USOIL moving down from a peak also, USDNOK correlated to oil commodity.

Dagangan aktif:

The news for the softening of USD/NOK came from this article in Reuters, the drop in USD/NOK matches exactly the time this article was published.

reuters.com/business/energy/eu-norway-agree-increase-gas-deliveries-russian-cuts-deepen-2022-06-23/

More Norwegian gas flowing to the EU means strengthening of their currency. The proof of this is the exact same movements of EUR/NOK as it was to the USD. So it's got nothing to do with the USD, it has to do with Norway's primary exports.

Dagangan aktif:

We also had on 23rd June the central bank of Norway increase in interest rate up 0.75 instead of 0.5 as expected

Dagangan aktif:

First opportunity to take profit is nearing at 9.77
2nd Profit target 9.69
3rd Prodit target 9.55
4th profit target 9.37