FX:EURNOK   Euro / Norwegian Krone
45 0
Those who follow me on Twitter, already saw a similar chart from me about EURNOK . Now I add the weekly too, plus I'll have some more notes.

- The big trend is bullish , but we may experience further counter trend wave towards stronger supports
- Ichimoku picture is bullish ... or is it turning neutral? It will be decided if we finally see a decisive candle close below Kijun.
- Stronger supports below Kijun are: 100WMA and Senkou B (Kumo bottom) ard 9,00-9,05 and the major trendline ard 8,80+
- Heikin-Ashi still showed undecision last week as candle had both upper and lower wick and a very small body, but price action was bearish on friday, which ended in a red body finally. Price has not managed to move back above Tenkan Sen (9 weeks avg ) for 4 weeks, however still could not close below Kijun either.
haDelta/SMA3 crosses down at zero, this suggests bears may get stronger momentum.

Note: bearish divergences are always nice to realise and examine, but as you can see in both haDelta and EWO , divergences can develop and exist for extremely long time! Divergences alone can not be traded!

- As it often happens, the initial bearish Kumo break did not have an immediate follow through at beginning of March. Bulls tried everything to push back price above 100WMA and 9,50-9,51 key supp/res lvl , but they failed 14-16 times!!! (that is like trying for almost every trading day for more than 3 weeks!)
- Heikin-Ashi signals turned bearish last friday, with strong momentum. In case price clears 9,30-9,35 resistance, selling will accelerate down to 9,00-9,10 zone.
- EWO is still neutral/starting bearish .

As I wrote on Twitter, I have been holding sometimes more sometimes less EURNOK short for several months now. I think it is time to hold more! If someone doesn't like selling EUR ag NOK , can still do another relative value trade, long NOKSEK , which I also called for on Twitter few days ago.

p.s.: Of course the whole success depends a lot on Brent Oil price action, as Norway is one of the world's biggest oil producers, but recently I see Oil price well supported by buyers.

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
HE עברית
Home Stock Screener Forex Screener Crypto Screener 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