after pullback confirmation we can go SHORT . ThankYou
Right now, the fundamentals are mainly supporting the Norwegian krone, helping it to recover against the single currency. Technically speaking, the krone is a commodity currency, meaning that it’s very much affected by how the crude market moves. And looking at the current status of crude, it appears that prices are currently steady as of the moment. Another...
A very technical environment here with Germany away from their desks, support clearly defined at the 10.8x lows while resistance towards 11.05x will cap the highs. With Crude starting to reach interesting levels for sellers the NOK rally will begin to unwind. The supply side can rebalance as much as they like, it will not offset the demand shock:
We've got a break of an ascending trend line. We've got a head and shoulders pattern. I'd wait for a confirmed break and retest of the H&S pattern/horizontal line before entering a sell.
a key support is broken, it make a retest. im going to short
We can see drop continue after forming this larger bearflag and sell. ThankYou
EURNOK looking very bullish here, had a massive push up and now falling and found support on the 61.8. On smaller timeframes also had another small push up and found support on that 61.8 fib again. I think a retest of at least 50 or 38 fib levels as marked.
I compared EURO value to all major world economies outside of European Economic area (EEA) for an accurate evaluation of euro currency on global scale (USA, Canada, China, India, Japan, Russia, Ukraine, Brasil, Australia and South Korea). And this is what we get in times of COVID crisis: When COVID started in Wuhan and China international demand for EURO started...
With falling oil prices and corona-virus spreading like a wildfire, we are likely to see the obx drop even more. It does not look like Saudi or Russia is planning to stop dumping the oilprice either. The Norweigan krone is has had a huge loss because of the oil price, and foreign investors leave the norwegian market when the price of NOK vs EUR/USD is rising. The...