{"id":16549,"date":"2010-12-09T09:00:16","date_gmt":"2010-12-09T14:00:16","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=16549"},"modified":"2010-12-09T09:00:16","modified_gmt":"2010-12-09T14:00:16","slug":"usdnok-short-on-breach-of-support-zone","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/12\/09\/usdnok-short-on-breach-of-support-zone\/","title":{"rendered":"USD\/NOK Short on Breach of Support Zone"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong> &#8211; The USD\/NOK shows a clear support zone that once broken may allow momentum to drop the pair back to its October low.<\/p>\n<p>Looking at the daily chart, the 5.9300  level has served as a major area of both support and resistance over the  second half of the year. The failure of the pair to breach this level  in August, the resistance from the double top in October (at the 5.7000  level), and now in early December gives traders a clear entry point  short.<\/p>\n<p>A breach below 5.9300 may bring the pair to test the October low of  5.7017. A protective stop may be placed above yesterday\u2019s high at a  level of 6.0500. This would give traders a respectable profit to risk  ratio of 2:1<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/12\/USDNOK-Daily.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/12\/USDNOK-Daily.JPG\" alt=\"\" width=\"590\" height=\"579\" \/><\/a><\/p>\n<p><em><strong><a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><span style=\"text-decoration: underline;\">Forex Market Analysis provided by ForexYard.<\/span><\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                                                                                                                                                                       may         not         be                            suitable             for              all                                              investors.                           There                is      a                                                                               possibility                             that                                        you                        could                                  sustain  a               loss                    of         all                  of                    your                                                                      investment         and                                                           therefore        you                                               should              not                                  invest                                   money              that                you                                               cannot                               afford    to                                       lose.           You                                           should                be                         aware             of                               all                     the                 risks                                                          associated                       with                            Foreign                                         Exchange                                             trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Russell Glaser &#8211; The USD\/NOK shows a clear support zone that once broken may allow momentum to drop the pair back to its October low. Looking at the daily chart, the 5.9300 level has served as a major area of both support and resistance over the second half of the year. The failure of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/12\/09\/usdnok-short-on-breach-of-support-zone\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;USD\/NOK Short on Breach of Support Zone&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-16549","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/16549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=16549"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/16549\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=16549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=16549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=16549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}