USDNOK possible rotation back to the bottom of the channel
USDNOK and after completion of a nice rounded top at the top of the major channel it now broke the neckline and a key support level that may open the way for the bigger move to the bottom once again. I am now looking for a correction higher to then look for bearish evidence on 1-4 TF for a possible sell trigger.
Comment:
Good news for the short idea:
Norwegian Bank
Stronger growth Regional Network contacts report that output growth has picked up since February.Growth over the past three months is the highest since autumn 2012.Activity is increasing most in the oil service sector, services and construction, but has also picked up in retail trade.Higher oil investment, purchases of technology-related services and large-scale public investment are the strongest contributors to growth.Capacity utilization and employment have increased further and more enterprises report difficulty recruiting qualified labour. Contacts have revised up their estimate for annual wage growth in 2019 to 3.2%.Enterprises expect output growth to remain firm ahead and are planning for solid investment growth.
Norwegian Bank
Stronger growth Regional Network contacts report that output growth has picked up since February.Growth over the past three months is the highest since autumn 2012.Activity is increasing most in the oil service sector, services and construction, but has also picked up in retail trade.Higher oil investment, purchases of technology-related services and large-scale public investment are the strongest contributors to growth.Capacity utilization and employment have increased further and more enterprises report difficulty recruiting qualified labour. Contacts have revised up their estimate for annual wage growth in 2019 to 3.2%.Enterprises expect output growth to remain firm ahead and are planning for solid investment growth.
Comment:
Hello guys!! as mentioned in the previous update those news was good for the short here, hope you all making some nice pips here.
Comment:
Not much left to target two now, keep selling rallies specially if it reach the 50% correction of the ongoing down leg.
Not much left to target two now, keep selling rallies specially if it reach the 50% correction of the ongoing down leg.
Comment:
If you missed the first and second drop, you can watch this level for another sell.
If you missed the first and second drop, you can watch this level for another sell.
USDNOK time to start looking for bearish evidences her, but be aware about the really bad NOK inflations numbers we just got today and that you maybe will get the reversal if USD CPI numbers to be bad tomorrow Wednesday.
Norwegian Core Inflation YY (May) 2.3% vs. Exp. 2.6% (Prev. 2.6%)
Norwegian Consumer Price Index MM (May) -0.3% vs. Exp. 0.1% (Prev. 0.4%)
Norwegian Consumer Price Index YY (May) 2.5% vs. Exp. 2.9% (Prev. 2.9%)
Norwegian Producer Price Index YY (May) 0.4% (Prev. 2.6%)