not every SHS pattern looks like textbook
so check out this ugly friend of a SHS at Usd Nok..you can clearly spot a transition in price movement
waiting for a neckbreak n close to long this pair
The EUR/NOK currency pair has been stranded in an ascending channel in force since mid-July. The latest confirmation was provided in this session when the price halted near the 9.33 mark for the second time in two days.
Being a bullish pattern, this ascending channel should guide the pair for an upside breakout that may occur next week. However, the latest two...
The US Dollar has appreciated against the Norwegian Krone during the past four weeks. As a result, the pair has formed two patterns, namely, a channel up and a descending wedge.
It seems that the junior formation has already reached maturity; thus, a breakout, most probably to the upside, is likely to occur already in this session. Technical oscillators are...
I think the pair found the medium term bottom and we are heading up for a nice ride. We have a perfect double bottom. Expecting a retest and buy buy buy.
The European common currency is trading in a channel down against the Norwegian Krone. The given pattern is a relatively narrow short-term formation that can be considered as a part of an intermediate ascending channel.
The rate reached the lower channel boundary of both patterns mid-session and therefore is expected to dash above the 9.32 mark to initiate a new...
USD/NOK is currently trading in a short-term channel down. The given patter was formed when the US Dollar lost value against the Norwegian Krone within the last week, thus resulting in a breakout of a more senior channel.
The rate halted at a two-month low of 7.7276 and has since recovered minor loses. Even though daily technical indicators flash bearish...
The US Dollar was depreciating against the Norwegian Krone for several weeks when this momentum downwards allayed, thus resulting in the formation of a descending triangle. The lowest point of the fall, t.i., the 7.7571 mark, is likewise the 2016/2017 low. The pair was also trading in a symmetrical triangle which was breached to the upside last week. The Greenback...
Daily candle analysis suggests that GBPNOK is ready to make a move lower.
I will be accumulating short entries on the 15 minute time frame.
10 pip stops, 50 pip take profits for each entry.
Monthly candle analysis suggests EURNOK may move lower. This together with Brexit turmoil and economic instability in the world will help propel this pair down.
This instrument is now on my watch list for the month of August. I'll be looking for short signals on the daily time frame. Once I get a signal I will attempt to make entry on the 15 minute chart during London.
Monthly candle analysis suggests that this market may move lower this month. This is due to how price behaved around the 5 EMA in July as well as economic uncertainty keeping GBP weak.
This pair is now on my watch list for the month of August. I'll be watching the daily time frame for short signals. Once I get a signal on the daily, I'll move down to the 15...
The US Dollar has appreciated substantially against the Norwegian Krone, jumping more than 80% within the last eight years. The ultimate high was reached in January 2016 when the pair managed to push up to the 8.9682 mark. Subsequently, the Greenback traded lower and entered a long-term consolidation period that confined the price in the 8.8000/8.0000 territory....
Norwegian Krone is highly correlated to Crude Oil futures (front month), but over the last year it appears to diverge. NOK/USD has continued to slide while Crude stabilised. This could be due to strengthening Dollar, and the low oil prices indicating weaker future economic growth.
The blue trend line marks multi-year highs. With prices touching this trend,...
The European common currency is trading in a narrow channel down against the Norwegian Krone. The given pattern was formed after the rate failed to reach the upper boundary of a rising wedge. Nevertheless, the price has altered its direction, as apparent from its failure to reach the upper channel boundary. The rate plunged mid-session, but was supported by the...
