Brent, CPI, Norges, 9,60 refused -> GOTO 9,35

FX:EURNOK   Euro / Norwegian Krone
40 0 3
- Brent Oil             is still under heavy selling pressure. This and previous general Euro             buying caused a sharp spike from 9,20 to 9,60 in EURNOK             .
- However NOK             Bears could not push the price above 9,58-9,60 key resistance since 8/Dec. Seven failed attempts.
- Norwegian CPI             last week was higher than expected despite falling oil             prices.
- Market believed in a Norges Bank rate cut with 50-50 chance, but Norges kept its benchmar on hold at 0,75 %. For me it was not surprising at all, given the fact ECB was less dovish and the above mentioned CPI             number.

- Ichimoku bullish biased, but bullish Kumo breakout missed textbook confirmation, as price did not make a higher high above 9,60 prev resistance.
- The pair faced heavy selling after Norges decision today. Price is down -1,4 % as bulls unwinding positions. Price reaching Tenkan Sen. We had 5 candles showing undecision and choppy trading in a wide range of 9,43-9,59. Today Heikin-Ashi candle has huge upper and lower wicks again, but this time a red body! haDelta/SMA3 however may dip below zero line. -> Turning bearish!
- Pull back on its way, with possible initial tgt             to 9,30-9,35.

If you want to enter swing short, do not rush, as this G10 pair has been trading like a wild EM cross! Try to catch spikes to 9,48-9,52.

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out