Daily Slow Stoch may give a buy signal, and also on 4 Hrs chart we had a higher low with Tenkan/Kijun weak bullish cross. We may see a retest to 8,21 - 8,24 support levels, where we can start to look for short opportunities again in line with the daily bearish trend.
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...
Euro area inflation will be due in about 12 hrs... I am expecting a lower then forecast CPI which should pressure the pair coming into this weeks ECB meeting.... We have a nice descending trendline technical pattern to support the short entry.
