FOREXCOM:NOKSEK OANDA:XPTUSD FX:EURCAD FX:EURGBP
In the duel of the Nordic nations between the strong Norwegian Ragnar (NOK) and the fierce Swedish Earl (SEK), only one can survive. I am betting my gold coins on the Norwegian krone for the following reasons: - NOKSEK is fundamentally undervalued -> fundamentally the pair should rather be trading at 1.04 - 1.05 - Norges Bank surprised EVERYONE...
NOKSEK is exhibiting consolidation with a bullish bias. It is hitting resistance levels and if it succeeds in penetrating could be the start of a Bullish Reversal.
NOKSEK is forming Falling wedge pattern. Stop Loss and TP'S have been marked.
Long NOKSEK 0.9570 stops 0.9470 for 1.0070 TP seeing consolidation around 0.95s forming as a base. not sure I m right ?
Signs of Bullish momentum after a post-move consolidation. Opportunity for early entry into a Bullish Reversal but respect the stop-loss which indicates a continuation of the downtrend
The 13 EMA has Broken above the 5 EMA on the 4 Hour Time Frame The Fast MA on the Trade Development Index has already broken the 20 implying that the currency pair was over bought Fib Retracement confirms a target to the Short side Take Profit is Derived from Pivots
NOKSEK Pair is trading in range once it breaks giving good entry in both ways
The 5 EMA has Broken above the 13 EMA on the 4 Hour Time Frame The Fast MA on the Trade Development Index has already broken the 20 implying that the currency pair was over sold Fib Retracement confirms a target to the Long side Take Profit is Derived from Pivots
Both currencies are exposed to risk aversion but we look for SEK to outperform. NOK was unable to capitalize on a hawkish Norges Bank outcome but SEK might gain if Riksbank delivers another hawkish surprise.
Bullish breakout : Entry price 1.03677 Take Profit 1.04553 Stop Loss 1.03185
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.
Short term count - just a thought, waiting for confirmation from price action (bullish scenario). Wave 4 would mean 38% fib retracement from Wave 3
Monetary policy divergence and oil price is driving this cross. Watch to find out more.
Target Price 1.11399 Entry Price 1.08989
After creating a series of LHs and LLs the price action seems to be retracing. With the formation of two strong bullish candles enter a BUY, Targeting 38% FR and protecting the last LL.
2 for the price of 1. Have a watch to find out more.