USD/NOK stages powerful rally

FXStreet (Barcelona) - Accordingly to the 1-hour MACD, the runaway USD/NOK market has reached its highest intraday momentum of the last month of trading.

Caution is advised not to trade into a buying climax as a torrent of selling could very well ensue. This could take the form of short-term profit taking or long-term sellers joining the market. The just printed hourly MACD value shows less acceleration, an early sign of a possible plunge in USD/NOK price action.