I am short too from 6.56, good luck!. What is your target on the downside? I am looking for 6.39-6.40 as a 1st target.
traderWgun
⋅
It depends on which kind of movement we get from here. But from an technical analysis stand point, 6.35-26, where we find 61.8-50% fib and former resistance.
Good luck to you too! :)
ACROFX
⋅
Hi, thank you for sharing your ideas regarding USDNOK.
We have believed in stronger Norwegian Krone for quite some time and so far we have been dead wrong. But with last weeks candle (weekly timeframe), we also noticed a negative divergence between RSI and price on daily chart.
From a fundamental point of view, Norwegian krone is around 3-4% weaker than Norges Banks forecast for I44 (import weighted Krone index). Furthermore, the market is pricing 25% possiblity for a rate-cut on upcoming interest meeting this thursday (24th of October). Most likely they interest rate will be on hold. Time will show!
traderWgun
⋅
Thank for sharing your view. It's going to be interesting to follow the NOK and other correlated markets, like USOIL which is also getting interesting
It's at the bottom of the range and it looks like it's doing a Elliott wave triangle We are also seeing hidden bullish divergence on the weekly
LudmilaHanania
⋅
Hi, I think the interest rate will hold too, I am invested heavily in Norway, I have various accounts with Dnb Nor , purchased 2 apartments in Sorenga last week, it is a country with a good economic future , I see you are Norwegian ,may I PM you with a few questions? thanks