Since my last post the counter trend idea worked well. Now it's time to start think about taking profit on counter longs and consider re-enterring shorts again.
Daily: Price reached a longer term equilibrium level ard 8,30, it is right at the Kumo, which we have to assume as resistance for further bullish moves. Note that the Kumo is not thick, so we can not...
After a sort of a double top, with a divergence, EURNOK corrected back to the strong support area. Now the impulse is blue, and the divergence is over. We have sort of a bullish divergence, and a candlestick pattern. Expect higher and higher prices!
I have bought this pair this week at different levels. I expect 9.00000, but till there, strong resistance has to...
Norway's CPI published today was in line with mkt expectations at 2,1 % YoY (although core CPI MoM was a bit lower)
Daily: As I have written in my previous post the major bullish trendline and horizontal resistance held well for now and Price started to correct towards Kijun Sen. MACD and Slow Stoch are both Bullish now, but the Ichimoku setup is bearish....
Daily: There is a strategic bearish Ichimoku setup, which means we will have to look for sell on spikes. However it seems EUR is recovering a bit on all crosses, so likely the 8,0940 trend and horizontal support will hold for now on EURNOK too.
MACD lines closed in, may give a bullish signal on next spike. Slow Stoch has been oversold now for some time.
4 Hrs:...
Daily: Ichimoku likely started to develop a medium to long term strategic short bias, but as I wrote in my last post, by now Price has reached a key support/resistance zone, and also the longer term bullish trendline is close.
MACD and Slow Stoch turning up, so it's not impossible that we see some kind of pull back to 8,2350 - 8,2700 levels.
4 Hrs: Consolidation...
In the long run I am rather bearish for EURNOK, I think NOK will perform well against EUR later this year and likely next year too. I've been short for about three weeks now, but as it's getting oversold and enterring a key support zone, also getting close to long term trend line, it is time to take profit. (anyway, my short Put options have maturity this week,...
I opened some shorts today, based on my last post (pls see linke below) and on today's 4 Hrs px action. Maybe I did a bit too early, but gvn the daily Kumo, I had to pull the trigger to get reasonable expected risk-reward ratio. Anyway, it looks like we may see a further consolidation.
Daily: Not much change since my last post. Small daily hammers following each...
Daily: Since the huge pin bar Price corrected down to Kijun Sen, then again up to Kijun Sen.
Last two days closings were both hanging man, rejecting the Key Resistance at Kijun. Slow Stoch gives a sell signal, with negative divergence to Price as well.
I expect this cross to come down into the Kumo this week. Later it will deoend a lot on ECB policy. Fundamental...
Looking this pair with comparison of USDNOK. USD is at resistance against NOK , EUR is at resistance against USD and against NOK as well, So short EURNOK could be highly fruitful with handsome risk reward ratio.
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I stumbled upon EURNOK over some chance discussions with some members here couple of weeks ago. I took on a short position back then and ever since I kept adding to my positions. This pair also gives +ve rollovers for shorts.
This is the weekly chart, which validates the short positions.
A descending triangle and RSI divergence on the weekly charts. I don't...
Despite NOK used to be one of my favourite ccys, I have not been paying too much attention to it recently. It was a mistake. I missed this sell setup and short entry two days ago, even though it was so obvious. EUR already sold off on all crosses, except this one. The setup was there, I even realised it in the morning, I just hesitated too much to enter the OCO...
