You're never gonna keep me down, I get NOKed down, but I get up again, You're never gonna keep me down! Now that you all hopefully have the song stuck as much into your head as I have ;) we can go straight to the facts: It is true that over the past two years, the Norwegian krone has all too often been one of the big losers in the FX market. Not only has it...
The EURNOK pair is currently testing the 1D MA200 (orange trend-line), being at the same time supported by the 1D MA50 (blue trend-line). This ranged trade is the Higher High after the pair bottomed on December 27 2023 and started rising within a Channel Up. Based on the similar bottom rebound after the July 25 2023 Low, we expect the pair to reach the 0.5...
EURNOK is currently in wave 4, which appears to be a flat correction. Flat corrections consist of 3(A) 3(B) 5(C) subwaves. We are currently in wave C = 5 subwaves. We are anticipating one final move down to complete wave C. Trade Idea: - Enter on break of trendline or signs of reversal - stops above blue structure or above price once entry trendline breaks -...
EURNOK is currently giving us a masterclass on Elliott Wave. We have the perfect impulse schematic, which follows every rule of Elliott Wave Theory. IMPULSE ELLIOTT WAVE SCHEMATIC Wave 1 = 5 waves (Impulse) Wave 2 = 3 waves (Correction) Wave 3 = 5 waves (Impulse) Wave 4 = 3 waves (Correction) Wave 5 = 5 waves (Impulse OR Correction in the form of a diagonal) ...
The EURNOK pair has topped on the long-term having made a Cycle peak on the week of May 29 2023. So far however, the 1W MA50 (blue trend-line) has (nearly) held twice as Support, but both rebounds failed to cross above the 0.618 Fibonacci level. This price action is very similar to the previous Cycle peak of March 2020, leading to a 1W MA50 rebound that again...
Over extended needs a break.
Nice loopie spring. Lets see where this is headed. I'd say up.
Regular Divergence, RD-, Daily Timeframe. I expect correction and touch the cloud.
EURNOK is showing a notable amount of Bearish Divergences across many timesframe at the PCZ of this Potential Bearish Deep Gartley.
Commentary EUR/NOK multi-week higher tops and higher bottoms on price indicate a dow pattern uptrend; provided price can hold above the 10.9 key support the potential for a continuation of the prevailing uptrend remains for a move towards 11.05 in the short term (5-13 days), otherwise if price fails to hold above the 10.9 key support then scope for a price...
There is a positive wick on the resistance line the price bounced from it , if the price break the down trend , i think by 65% the price will go up , correct me if i am wrong
First things first: all hail the vikings! Why I like this trade: - NOK with the MUCH better fundamentals - NOK clearly undervalued on a longterm timeframe - Norges Bank quite dovish in their last meeting but could get hawkish again in march as -> inflation has massively surprised to the upside - inflation expectations on thursday will be key for NB - NB could...
First things first: all hail valhalla! Why I like this trade: - NOK with the MUCH better fundamentals - NOK clearly undervalued on a longterm timeframe - Norges Bank quite dovish in their last meeting but could get hawkish again in march as -> inflation has massively surprised to the upside - inflation expectations on thursday will be key for NB - NB could reduce...
Hello, Friends! After some time of sending us mixed signals EUR/NOK is finally giving us a solid bearish bias And judging by the price action at the lower timeframes The pair is about to go down! SELL! ✅LIKE AND COMMENT MY IDEAS✅
EURNOK has formed a nice double top close to the 38.2% fib. Unfortunately I missed the entry to go short, I will try to get into the trade once price retraces to the upside. The target of the short would be another touch of the bottom trendline. We also have a slight bearish convergence on MACD.
Parallel Channel formed on EURNOK Weekly Time Frame. Enter a long position.