Kumowizard
Long

EURNOK - Sharp Kumo break and trend reversal

FX:EURNOK   Euro Fx/Norwegian Krone
48 0 1
With Norges turning dovish, NOK             got hamered last week. The 3000 points jump was quite remarkable, so here I expect some pull back and consolidation. Fundamentally it is hard to be strategic bearish for NOK             , especially against EUR, but technicals tell us the opposite.

All indicators turned bullish on daily chart . Price is above Kumo, T/K bullish , MACD , Slow Stoch and DMI             also bullish .

Actually I still have some small short EURNOK             in my portfolio, but in case the retracement takes place, I will defenately close that short too. Retracement target is 8,2450. If it goes deeper and tests the Kumo between 8,21-8,2450, there we may look for some buy signals as well. The question is wether we should do it ag. EUR, or if we should rather have a look at USDNOK             , or maybe NOKSEK             as a relative value trade.
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
中国
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out