In this update we review the recent price action in the USDNOK and identify the next high probability trading opportunity and price objectives to target
Commentary EUR/NOK multi-week higher tops and higher bottoms on price indicate a dow pattern uptrend; provided price can hold above the 10.9 key support the potential for a continuation of the prevailing uptrend remains for a move towards 11.05 in the short term (5-13 days), otherwise if price fails to hold above the 10.9 key support then scope for a price...
First things first: all hail valhalla! Why I like this trade: - NOK with the MUCH better fundamentals - NOK clearly undervalued on a longterm timeframe - Norges Bank quite dovish in their last meeting but could get hawkish again in march as -> inflation has massively surprised to the upside - inflation expectations on thursday will be key for NB - NB could reduce...
Also on the weekly chart, it bears downwards. I think we will have a real bearish rally.
$USDNOK - Now we wait... Another week for us traders to take advantage of Excellent set up for usdnok - now we wait for a break to either direction we do have key fundamental data this week. Will Powell be as before dovish or will he hawkish as well as that softer cpi coming our way expected and then taking into consideration the technical view of usdnok it's...
I think DXY may lose some ground in the next few weeks, to where no one knows against NOK there seems to be one of the clearest patterns a descending triangle, confirmed by the volumes on NOK Futures I expect a clear break below 10.40 and confirmation volumes on the futures, even if on the descending triangle they are not essential
USDNOK We expect more rise in the coming period since prices are above the support point of 9.45605, and we expect it to target prices of 10.0599 in wave ((iii)), and an extension may occur in the third wave and reach prices of 10.3552
USDNOK looking for higher resistance it seems. The 61.8, former wave two, and c=a at 10.00- psychological lv. Looks like a nice spot for bears up there. Crude also doing its thing, but should watch the reaction to EU reform of the power market. Grega
technically, we have a false breakout from the 10$ level. if we will have a summer rally in stocks, we can give it a try with a short on this pair
Easy to read chart- price pressing against the major trend line. Lots of consolidation. Bottomed out fibs. Stoch RSI still needs a bit more flattening on the month in my opinion? Thoughts? *Not trading advice.
Bouncing off supply zone ..waiting for breaking the trend lines for short trade up to the next demand zone ..waiting for confirmation using smaller time frames.
Overall Average Signal from all our indicators suggests a Short. Entry is at market open and exit is shortly before market close or whenever you are okay with profits. You should be careful with this one.
GBPNOK LONG - Buy Entry - D1 Chart Buy @ Market Symbol: GBPNOK Timeframe: D1 Type: BUY Entry Price: Buy @ Market Resistance @ 12.41680 Resistance @ 11.97872 Pivot Point Yearly @ 11.89933 Resistance @ 11.83269 Resistance @ 11.66966 Support @ 11.30668 Support @ 11.21511 ✅ If you liked this analysis, please consider Following and giving it a Thumbs Up...
Nokia Corporation - Short Term - We look to Sell at 5.31 (stop at 5.54) We look to sell rallies. Previous support at 5.30 now becomes resistance. 50 1day EMA is at 5.44. There is scope for mild buying at the open but gains should be limited. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 5.30, resulting in...
Nokia Corporation - Short Term - We look to Sell a break of 5.24 (stop at 5.45) A move through bespoke support at 5.40 and we look for extended losses. Our overall sentiment remains bearish looking for lower levels. A lack of clear direction has formed a channel on the intraday chart that has a mild bias to break lower. We look for gains to be extended today....
EURNOK price closed above 10.13905. Watch for a bullish price action signal to go long.
Nokia Corporation - Short Term - We look to Buy at 5.33 (stop at 5.16) We look to buy dips. Trading within a Bullish Channel formation. A higher correction is expected. Previous support located at 5.40. We expect this move higher to continue and look to set longs in early trade using previous lows as a stop. Our profit targets will be 5.76 and 5.95 ...
Bearish on Nokia once again. Downward zigzag with technical suggestion of further downward movement. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere...