The movement of EUR/NOK has been bounded in several patterns. Following a two-week period of appreciation, the pair bounced off the upper boundary of the senior channel and the 38.20% Fibonacci retracement at 9.70 and formed a new wave downwards. This movement has been relatively flat, as the Euro has since remained trading near the senior channel.
By mid-today, ...
The US Dollar has appreciated substantially against the Norwegian Krone this week. The pair shot up 2.82% in just one session, thus moving away from the 2016/2018 low of 7.64 and confirming one more time a downward-sloping trend-line circa 7.8820.
The pair has since edged slightly lower in order to ease from the aforementioned daily surge. It is likely that the ...
"We expect risk appetite to rebound, helped by benign wage growth in the US. In this environment, short CHFNOK trades should do well. Recent Norwegian macro data have generally beaten market expectations, with forward looking indicators like PMI also holding up well. NOK also receives additional support from rallying oil price which helps its oil sector, as ...
Current levels of EUR/NOK could offer interesting selling opportunities.
NOK should outperform EUR in the coming weeks and months on the back of growing policy divergence between the Norges Bank’s policy outlook and the ECB’s, which is reflected in an increasingly negative 2Y EUR-NOK rate spread. The divergence could intensify as both banks start to cautiously ...
Hello fellow traders!
Today we are excited to share with you our USD/NOK trade!
Double bottom has formed on the daily, we've broken up with good volume and seem to be going bullish.
Stops below our double bottom, and take profits at fibonacci levels.
Cheers!
Although many resistance levels were passed on other US Dollar's pairs during the fundamental surge of the Buck generated testimony of the Chairman of the Federal Reserve Jerome Powell., the USD/NOK pair’s resistance has held its ground.
Namely, the resistance of the large scale pattern, which represents the pair’s decline since late 2017, has held its ground. ...
After bouncing off the senior channel on January 29, the common European currency began a new up-wave and formed an ascending channel along the way. The rate tested this junior pattern two weeks ago prior to edging lower down to the 6.68 area where it is trading today.
A closer look at the pair’s previous movement demonstrates that the Euro has been successful ...
The US Dollar has been trading in a channel down against the Norwegian Krone since mid-November. As apparent on the chart, the Greenback has moved in neat channels within the bounds of this pattern.
After reversing from the senior channel and the 50.00% Fibo retracement at 8.0271 on February 9, the pair has since formed a new short-term channel down.
Taking ...
The Euro began weakening against the Norwegian Krone after reaching the upper boundary of a long-term ascending channel located at the nine-year high of 9.9880. The pair reached a one-year up-trend marked with the dotted line late in January and subsequently began surging in a steep upward movement. The pair was testing the 23.60% Fibo retracement (low and high at ...
The US Dollar has made a sharp recovery against the Norwegian Krone during the past trading sessions. This strong upward movement comes after the pair bounced off the bottom boundary of a long-term descending channel circa 7.63. Given that this line was respected, the pair is likely to advance even further within the following week or two, setting the 8.05 area as ...
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The US Dollar has been trading in a channel down against the Norwegian Krone since mid-October. The bottom boundary of this pattern was tested last Wednesday when the pair hit a four-month low of 7.82.
It has remained relatively stable during the past week. The Greenback re-tested the aforementioned low a few sessions later but nevertheless failed to form a ...
Following a southern breakout of a three-month ascending channel, the Euro started to weaken against the Norwegian Krone, thus resulting in a formation of an opposing channel. This pattern was likewise breached on Friday, thus leaving the rate in a symmetrical triangle—a pattern that has already reached its maturity.
Currently, the pair is stranded between the ...
EUR start to lose power and the cross want to go directly on the target delimited by the two supports in chart
A long term market pressure of - 11.7 confirm the downtrend
This analysis is based on market pressure.
On my twitter profile https://twitter.com/TizianoBruschi you can find everyday the market pressure value for all crosses.
Have a nice trading !
