Another long term currency swap play I am buying into is the Norwegian Krone. I have started to swap some of my usd cash into the Krone while I am getting a good price for it before a downward move in the pair.
Bullish Trending Structure
Price holding above strong Support Zone and Dynamic Support
Hidden Bullish Divergence on MACD indicator, suggesting a move up
Enter at the break of the last HH.
Targets up to 100% Fibo Expansion in confluence with the Falling Trendline / Dynamic Resistance.
A failure to break the former high and a shift in orderflow from bullish to bearish informs our sell limit set ups. Presently we have a change of character and a break of structure. We anticipate a minor bullish correction to activate our sell limit orders at 11.16 price handle.
based on the corrective structure which began 2021, we have been in a corrective phase, which will eventually reverse for a down move.
Waves show us the third move but never the timing.
Trade with care use a stop loss.
The pair had its little run upwards as expected, but considering the shape of the pattern, which resembles a 'false bull flag' the likely hood remains we may see lower back to 11.0250 again.
Strategy SELL @ 11.1900-11.2200 and place SL @ 11.32 and take profit @ 11.0350.
USDNOK is trading inside a Channel Up for almost four months, with the 1D MA50 supporting as the medium term Support. The very healthy bullish 1D technicals (RSI = 62.188, MACD = 0.074, ADX = 41.092) indicate that the current price action will lead higher so we are buying into today's strength and aim at another +4.60% rise (TP = 11.500).
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The pair has room moving higher again. We are positive SMI and further, retracement values suggest we could reach 11.1650 again.
Strategy BUY @ 11.0250-11.0575 and place SL below 10.9750 for now. Profit order I suggest @ 11.1450.
The pair has been locked in within a right range, and the Doji cross, and stochastic showing signs of turning the side, suggests we should have a going south strategy.
Strategy SELL @ 11.1500-11.2000 and place SL above 11.3000 for now. Profit order @ 10.8550.
The USD/NOK pair is currently facing some *support* near the 10.7500 level, which coincides with the 61.8% Fibonacci retracement of the last major upswing from 9.5385 to 11.2836. This level could provide some temporary relief for the pair, as some buyers may step in to take advantage of the lower prices
USD/NOK (USDNOK=X) Live Rate, Chart & News - Yahoo Finance....
The USDNOK pair is trading within a 1 year Channel Up with the price above both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). Last week's rejection on the 0.786 Fibonacci retracement level is similar with the one in March 16 2023, which after pulling back to the 1D MA50 and was contained above the 0.382 Fibonacci, it reversed upwards to a new...
The pair may correct little bit upwards, and its possible to re-test 11.0000 before we move lower towards GANN support. The stochastic is negative, and we have a hammer bottom close.
Strategy SELL @ 10.9850-11.0250 and place SL @ 11.1200 for now. Profit order @ 10.8150.
The pair is overbought, and a too steep ascend, I feel.
The stochastic is negative, and RSI is overbought (not shown due to lim9tation of chart. Suppose to be 3 on chart for basic and now 2 lol ). Anyway, it will do the job trying to provide some ideas for my fellow tradingview friends.
Strategy SELL @ 10.9750-11.0500 and take profit @ 10.7850. SL above 11.1250.
This is high probability trade based on transient and recurrence theory.
Signal is for a short position with a 96,6% success rate.
Price will revisit TP .
TP 10,585
The pair is positive short-term, and same as my build model, we are on BUYING side currently.
The stochastic is positive supported by GREEN AO which is above zero line even. This suggest we should see higher prices in the short-term.
Strategy BUY @ 10.7750-10.8200 and take profit near 10.9350 for now. SL let's say below 10.6850 for now.
The pair looks a little confusing, but I feel overall we may see south due to the fact we got a rising triangle pattern. Further, negative across the board. We need to overcome the support levels to break.
Strategy SELL @ 10.7300-10.7850 and place a stop-loss above 10.9250 and take profit @ 10.3850 for now.
Hello,
Welcome to this analysis about USDNOK and the 4-hour timeframe perspectives. In my recent analysis, I discovered some interesting signs forming in USDNOK which are important for the upcoming determinations. As when looking at my chart now we can watch there how USDNOK is about to complete this major head-and-shoulder-formation with the left shoulder and...
The pair is starting to come under pressure with ample resistances @ 10.8350 area. The stochastic and RSI are NEG and this adds to the expected demise.
Strategy SELL @ 10.6500 - 10.6850 and place stop-loss above 10.8575 for now. Profit order @ 10.3450.
