You might wonder why we are looking for a possible top in USDNOK, as the underlying trying for 2014 is with no doubt up. Based on the underlying economy in Norway and the forecast for Norges bank, the index weighted Krone should be a lot stronger than current levels. But stronger macro from US and falling oil price has reduced the demand for NOK, especially...
Wolfe Waves potential 5. target_1 : 6.429 target_2 : 6.400 target_3 : 6.385
Norgen Bank begins buying Kroner to manage national oil fund. technically there is a double top forming on the chart suggesting a significant pull back could begin here
Today Norges Bank announced it will buy NOK 250mn/day in October, first time since 2000. This factor should support a stronger NOK, not volumewise, but sentimentwise. Levels to watch for short term is 6.38 and 6.32/6,30. If we break this support area, we should see further strenght for NOK down to 6.20. While on the upside we have now established resistrance...
Missed seeing this early on. Price above 200 EMA, break out of the handle and the cup line. Look to buy the dips with a small buy order above today's high if price closes lower. Ideally, expecting to see a retracement to any of the Fib levels. Target, 6.67
After the recent peak around 6.45, the pair has lost momentum after last weeks Policy meeting in Norway. A rate-cut due 2014 is out of the question and we should expect a stronger Norwegian Krone (NOK) upcoming weeks and months. Since last weeks sell-off, the pair has today retraced 61.8% of the move down and we should see a possible turnaround from current...
I believe USD/NOK will try for a test of 200Ma before any meaningful downside.....Short from 6.37172, OR at upper TL for a test of 633252 hopefully breaches this level for more downside.
1. EW sequence completed 2. Bearish shark completed 3. Bullish 5-0 3rd wave 224 ext. completed 4. RSI overbought I guess enough reasons to be short :) Good luck
This pair will continue going higher and higher. The USD is rallying strongly, and the fundamentals are against the Swedish krona. A rate decision is coming on 18th September. I added to my position on the breakout, but I should have added before that.
This is the same idea as going long USDSEK, as these pairs move together, the only difference being the range of the movement. USDNOK suffered a heavier correction than USDSEK last weeks. The weekly chart doesnt look as bullish as the USDSEK chart Correction seems to have stopped at 38% Fib, at a strong support area.
USD/NOK should make one more high to complete 5 waves move. Wave 4 target completion is 6.238 - 6.248. Long from this area to the new high. SL can be set below 50% fib of wave (iii) or it can be set at 1.618 extension from the high. Good luck and trade safe. ------------------------------------------------------------- Twitter: twitter.com Website:...
USD/NOK has reached 6.27 target from previous post (see link below) and profit already booked. However, it looks to still have more extension. It's a good timing tool for USD correction towards major pairs. USD should correct pretty soon after USD/NOK completes the 5 waves. ------------------------------------------------------------- Twitter:...
Looking to see bearish shark formation with bearish price action confirmation around 88.6% retracement. This is my first published idea, so please advise me.
USDNOK rallied form 5.848 (May) to 6.2478 highs with no ret. Failed to complete the bearish bat but stopped at strong previous (2013 Q4) strong structure res. Nice short opportunity with stops above 6.26 all the way to 6.12 levels, almost 1:2 RR ratio.
USD has been strong lately towards all other major pairs. One pair that can be used as a timing tool to see how long the USD strength will last is USD/NOK. USD/NOK looks to be completing a 5 wave impulsive rally with a target of 6.27. Once the pair completes wave 5, USD should weaken (or better say correct), before starting the next leg of rally. Good luck and...