The NOK could have finished it's flat correction. Oil is set to weaken again and it would hurt krona. Minimum target is at the previous top 8.99
USDNOK recently saw downside after coming into a key weekly trendline resistance combined with the Norges Bank (the central bank) talking about the potential to hike interest rates in 2019 as their economy continues to grow. Looking to the USDNOK pair technically we can see the market created new lows after rejecting the weekly trendline resistance. Using our...
If we manage to stay above trend line Fig.1 I believe we will have a beautiful rise in price these two next days. Tryhard trader = Moon eyes. please feel free to teach me some pro tips xD - Safe trading
Norwegian Krone is highly correlated to Crude Oil futures (front month), but over the last year it appears to diverge. NOK/USD has continued to slide while Crude stabilised. This could be due to strengthening Dollar, and the low oil prices indicating weaker future economic growth. The blue trend line marks multi-year highs. With prices touching this trend,...
Norwegian economy looks stronger that economy of EU. Plus strong oil supports NOK. Weekly chart breaks triangle.
Long term up trend CHFNOK is finished. Norway is accelerating thx to stimulus being put into the economy which has kick-started and enormous amount of infrastructure builds around the country. Oil industry is done with its "cleanup" on jobs with new job openings up 56% in the oil region in nov/des. Housing market fundamentals in Oslo is overheating with the...
This is my first time tech analyzing a chart. I think it will keep decreasing to 279, then it will go up again.
DNB is trading in the bottom of a nice trading range. Potential for a low risk high reward long trade if price opens in the same area it closed on Friday. Stop-loss level just below support line.
MHG has been in a strong uptrend for quite some time and now appears ready for a correction. RSI and price are diverging, signalling reduced momentum in the trend. A strong close below the trend line would signal a short. After the first resistance zone there is potential for an even larger decline.
Trading opportunities from a symmetric triangle, providing us with the opportunity to trade a break below or above the resistance/support. My opinion : Further downward pressure on oil will cause the USD to strengthen against NOK (Norwegian Krone) due to Norway's economic dependancy on oil prices. This will cause a break above the triangle and hopefully a profit...
Some fundamentals: + Norwegian inflation is at 3.3% (little or no room for monetary easing) +Price of Brent recovering + Massive current account surplus -Huge drop in GDP growth to 0,1% - Deteriorating consumer sentiment
Quite a solid symmetrical triangle forming here and getting very close to the apex. Profit targets based on previous structure. (Zoom out to see lower target structure.) Trade a close outside the triangle.