On february it was broken the long term rising trendline with a strong impulse to the downside. The correction for this move seems almost completed and i'm expecting a new wave to the downside.
USDNOK
As the market has for some time now trading sideways/range mode, USDNOK should offer a nice exit from 8,60 level down to possible support around 8,40. After the announcement from Brexit, USDNOK never managed to close and break resistance above 8,60 which now act as great barrier for the pair. In that matter, the risk/reward should be great for a short...
USDNOK looks to be breakout out short on the swing timeframes for a play back down to the bottom of the consolidation. I entered at 8.3722 following a breakout of price and momentum to the 2 hour Ichimoku cloud. My risk will be trailed above the Ichimoku Kijun Sen until I reach my target at the bottom of the Daily range where I will tighten up my stop.
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Trading opportunities from a symmetric triangle, providing us with the opportunity to trade a break below or above the resistance/support. My opinion : Further downward pressure on oil will cause the USD to strengthen against NOK (Norwegian Krone) due to Norway's economic dependancy on oil prices. This will cause a break above the triangle and hopefully a profit...
H&S pattern resting on previous H&S res turn sup. Measured move to the upside. Although many factors including brexit could throw all technical out the window. Trade with caution this week.
Refer to Chart for Details.
Good morning traders, I´m been heavily bearish on this pair for months and downtrend is resuming after correction till 8.4 . I think a retest to 8.00 area is stil posible while price is below 8.25 on a daily close . So shorting @ MKT You can subscribe to my mailing list for FX Alerts : eepurl.com 6 Trading Rules : 1. Never add to a losing position . 2. Don´t...
Some fundamentals: + Norwegian inflation is at 3.3% (little or no room for monetary easing) +Price of Brent recovering + Massive current account surplus -Huge drop in GDP growth to 0,1% - Deteriorating consumer sentiment
FX:USDNOK www.tradingview.com Safe Trades;
FX:USDNOK BAT: Point B: 38.2% to 50% XA Point C: 38.2% to 88.6% AB Point D: 88.6% XA Targets: TP1 38.2% AD TP2 61.8% AD Safe Trades;