The main view of this trade idea is on the 2-Hour. The fx cross USDNOK appears to have found support around the 8.7 price level, as the countertrend move in the currency appears to have ended. This produces an opportunity to go long USDNOK with initial resistance observed around 8.9, which can be an initial target for the fx cross.
the daily chart of this market shows that it will experience a downward trend in the next few days but at the same time you must be vigilant of the change of this market towards the opposite direction
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I show a rare trend switch on CADNOK for the south on the daily time frame. This usually means business. CADNOK is a very violent pair to trade but potentially one that can deliver. Wide stops and big account sizes are needed.
Strong upside momentum has driven the USD/NOK exchange rate since late March. The pair had appreciated 8.60% until it peaked near the 8.32 mark on Tuesday. It likewise breached the prevailing one-year channel on the same day. As a result, the US Dollar shot up to the 8.32 level and subsequently fell back to the breached senior channel.
During the past few weeks,...
Not a pair that I trade very often, but I couldn't resist to check it out anyway..
As you can see this pair is currently sitting at the 61.80% fib level on the daily chart and the next candle that farm is a very bearish hammer which is a really go signal for a potential short.
BUT then again I would still keep an eye for a pontetial swing to the 78.60% before...