We see that price has potentially formed an inverted head and shoulder pattern , with price now approaching the neckline of the pattern we could potentially see a break and retest of the neckline for the chance to go long .From the fundamentals ,NORWAY CENTRAL BANK has decided as of 22/6/2023 to raise interest rates 3.75% beating the markets expectations of 3.5%...
Nokia has been quiet for years - too quiet I suspect. You remember those old brick phones, the ones that were nearly indestructible, right?
I have been watching Nokia off and on since March of last year, trying to find a decent entry point. This is an update to my original idea linked below.
Due to Nokia's prior reputation, I have for nearly a year had a very...
I spy a breakout and a retest, an inverse head and shoulders, and a new high on the RSI. Where do we go from here? I say the target is about 23% higher at $30. This of course hinges on oil strength and dollar weakness, as is always the case with NOKUSD.
ENOR is a more liquid equivalent to NORW-- there is enough volume to trade it hour-by-hour rather than day-by-day. I was curious why neither ETF followed the Oslo Boers exactly and... apparently the arbitrage is from its correlation to the currency pairing NOKUSD. So really Norway ETFs' strength comes from oil strength and DXY weakeness, both of which aren't...
NOK Nokia Chief Executive: we will do “whatever it takes” to lead in the 5G space!
On 7/6/2021 BNP Paribas brokerage Upgraded the rating for NOK Nokia from Neutral to Outperform and set a $7.70 price target.
I extended the Fibonnaci retracement tool from the strong support to the previews top and came out with a 6.5usd price target.
The USDNOK pair has sure taken a beating lately. But there are signs that the trend may be changing to bullish.
1. The RLCO crossover occurred Friday suggesting a new upside trend.
2. The CMF shows bullish divergence (a higher level every time a similar level in price is achieved - notice, for example, May 13 vs May 21).
3. We've possibly made a triple bottom,...
Chart painting from the early 21st century, artist Maxi Scalibusa. No investment advice or a recommendation to buy or sell any securities. This is entertainment. Start 4.2800 EUR
NOKUSD was in a multi-year uptrend before COVID disrupted things.
We have now regressed far below where we were previously, and there is reason to think that a turnaround may be in store. At minimum, we are likely to catch a small bounce here.
1. Bullish divergence on volume-based indicators. With each of these three tests of 8.20, the OBV and Chaikin Money...
NOK/USD has broken out of an Inverse Head and Shoulders Pattern and is now consolidating above the 200 EMA, a break out of this rectangle will signal more upside.
We look at why Oil prices are supporting the Commodity-linked Canadian Dollar & Norwegian Krone.
I analyse how markets use Manufacturing PMI data In the U.S to know when to buy and sell Oil based on demand expectations driven from Global growth.
We can take the following trades
BUY CAD/JPY
BUY NOK/JPY
SELL USD/NOK
SELL USD/CAD
We all now that the USD dollar are the king, but how long can the american bank hold this price, before is bade for the international trading with usa
who will pay the import prices if usd dollar are so expensiv..... The norwegian will find a away.
strenghten the kroner or make pressur on the usd to make good trades.
Anyway good trades on lots of cannels vs usd
Norwegian Krone is highly correlated to Crude Oil futures (front month), but over the last year it appears to diverge. NOK/USD has continued to slide while Crude stabilised. This could be due to strengthening Dollar, and the low oil prices indicating weaker future economic growth.
The blue trend line marks multi-year highs. With prices touching this trend,...
I suggest that traders short the Norwegian Krone against the USD for the following reasons:
/dx has broken out of its ~2yr consolidation pattern amid Trump's fiscal stimulus promises and subsequent repricing of the Fed's hiking cycle in anticipation of higher US growth and inflation.
NOK remains highly vulnerable to /cl as >50% of Norway's exports are...
As of October 1st 2016, the Norwegian Krona against the Swiss Frank is unquestionably one of the highest probability trades I currently see in the FX market, if not the highest probability trade on a weekly closing basis. TradingView is not giving me permission to set-up a NOK/CHF cross, so instead I set-up the USDNOK/USDCHF, which neutralizes the US dollar in the...
We have a nice pair opportunity (and perhaps a great *USD trade) in the NOK crosses. NOK shows excellent relative strength, and has a lot of catching up to do with the Yen, which makes it ideal to long NOKJPY or long NOKUSD and short JPYUSD, risking 1 weekly/monthly ATR per side.
The NOKUSD trade is to long at market or on dips, and risk a drop under today's open,...
