Potential continuation of long term uptrend following bounce off ascending channel support strengthened by 2009 and Jul-2015 resistances. Uptrend confirmed by bullish price and 50 MA both above bullish 200 MA. Potential trade following break of Jan-2015 resistance beyond circa 9.3000 up to target of 2009 resistance circa 9.7200. Potential 4.5% gains at a 1:2 risk...
- Ichimoku setup is bullish, Price retested Kijun Sen, which acted bullish support for last two days
- Possible Heikin Ashi buy-reversal signal at support
- Brent Oil is still under selling pressure
- Looking at 4H: 100 WMA acted as strong supp/res. In case Price breaks above 9,00, that will trigger further buying, and Ichimoku setup would turn to bullish again on...
Weekly: Attention!
- Ichimoku setup is bearish, with supports at 8,80+ and 9,00
- Heikin Ashi already signalled loss of momentum last week: inside candle body with no higher high and both candle high and close below the weekly Kijun Sen. We may have further sideaway or a bearish resumption this week, watch if haDelta comes back below zero.
Daily:
- Ichimoku is...
Bat Pattern on the EUR/NOK with D at 8.71323
Entry @ 8.71400
Targets @ 8.60078, just above Support/Resistance (look left @ ~8.580) and is a 38.2.
Stops @ 8.78700, just above the X point
Fully welcome any ideas to prove me wrong/other view points
Weekly:
- Ichimoku setup is very hard to read still, because the rare spike in dec/2014 made some distorsions of the indicator. I'd say it is kind of neutral, as Price is at the equilibrium measured from datas 26 weeks ago, and Chikou Span hit Price candles.
- It's been 6 weeks now since EURNOK tries to break the major uptrend line and the key supp/res zone of...
Well, this week or the next we should see the fate of NOK. Actually I think this week Norges Bank will determine the fate of their ccy. EURNOK got very close to a major inflection point. A make it or break it time is ahead of the pair.
Weekly:
- Price has reached a multiple support/resistance zone: bullish trendline, Kumo, 100 WMA, and horizontal key supp/res...
Weekly:
- Price is reaching an extremely important zone 8,35-8,38. If Price ever breaks below this zone, the long term picture would change to strategic bearish
- Ichimoku setup right now is neutral, with bearish bias.
Daily:
- Ichimoku setup is bearish, all average lines point down, Chikou Span is in open space
- Price retested 8,50-8,55 bearish support zone....
Weekly:
- Ichimoku setup is hard to read a bit. All in all it is rather neutral: Price is still above Kumo, but below Kijun and Senkou B (9,00). Chikou Span will hit Price candles within a few weeks. Strategic bearish reversal could take place only below 8,45.
- Heikin Ashi candle pattern shows a pull back (correction) for the last five weeks. Watch this week's...
Weekly:
- Ichimoku setup is neutral/weak bearish
- Heikin Ashi candle turns red again, weekly haDelta/SMA3 crosses down. We should see bigger candle body and on back of that haDelta to go deeper below zero line for more bearish action
- 8,35-8,45 weekly support zone is in focus now
Daily:
- Slowly drifed lower after the spike to Kumo. Ichimoku setup is about to...
Rate cut, rate cut, rate cut, rate cut everywhere! This is the new monetary policy phenomenon, the ultimate perpetum mobile! In fact since 2008 there was one rate cut by every third trading day!!! Central Banks lost their mind, heating ccy war further... except one! It looks like Norges Banks is the only one left, thinking that rapeing the financial mkts may be...
NOK is the only G10 ccy which has not yet started to perform against EUR. Why is this ccy so much hated? Due to Oil px action? I doubt, as CAD is performing quite well. I rather think people wait for Norges bank decision. But look at EURSEK! What has happened after Riksbank announced rate cut + QE? Initial spike, then collapse, what's more, it has ended in a multi...
We are very close to the channel support which most likely will provide a small bounce higher at some point. However the real question is, are we going to take out the 2008 highs or not?
Time will tell.
Daily:
- Ichimoku setup is bearish. Price below Kumo and Kijun Sen. For confirmation we need Price break a bit lower, sending Chikou Span into open space after its bearish break below the past Kumo.
- Heikin Ashi has been showing undecision for more than 2 weeks now. Green, red and doji candles changing each after. Today candle is bearish, with haDelta turning...
The big bias is bearish, but the price is touching a strong support now.
We have reason for a deeper pullback.
Weekly chart analysis:
On D1 details on the chart.
I prefer to enter now for a better R/R ratio
Greetings
Weekly:
- Short looks good until trades below Kijun Sen and Senkou B
- Heiken Ashi supports further bearish move
- weekly trend and horizontal support is between 8,40-8,45
Daily:
- Bearish Ichimoku setup, Tenkan and Senkou A lines pointing down.
- Heiken Ashi turns bearish again with haDelta back below SMA3 and zero line
- With next wave down watch Oscillator...
After a bullish rally the EURNOK has began a trend change.
It is not late to join this movement now.
Price is bouncing from a broken resistance, trendline and forming EW third wave.
Fundamentally, the NOK will recover soon from impact of low oil prices.
Happy trading.
Norway is AAA rated, they have no debt at all, but they have huge cash reserves in their national funds.
The only "problem is" that they are Europe's oil producer country. But its a problem only until Oil starts a correction, or at least stops falling further. Otherwise what is the bigger problem? That Norway's income depends on oil, or if that ECB is ready to...
