NOK/SEK (+110 pip value 0.14 actual +16)

with the oil dropping in a recent few days steadily, we could count on some weakness in commodity currencies connected to oil (CAD, NOK). Pair is confronting two retracements on weekly chrt 38.2% retracement from 1.0708 - 1.3173) and 38.2% as well from (1.3173 - 1.1607) We can see on 8h chart that pair is trading right bellow 200SMA. Entry in this trade could rather be difficult, or rather the timing of it, because if we look more carefully we could argue that there is inverse head & shoulders pattern, what would be clearly bullish sign. Taken this into consideration it might be a better strategy to sell possible spikes above 200 SMA. Stops should start clearly above 200 SMA, and targets placement should start bellow 1.2100