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,...
If you happen to be a bull on oil this fx pair is a good proxy Stops above high
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...
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....
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 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...
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...
A negative market pressure on USD continue to push USD to lower prices. This is really clear on crosses with huge movement. On USDNOK a long term market pressure of -4.8 and a short term market pressure of -6.8 is driving the prices in a continue fall, and the market did'nt find an hard rock bottom. This analysis is based on market pressure. On my twitter...
The US Dollar has been appreciating against the Norwegian Krone in a channel up since late August. During this period of appreciation, the pair managed to reach its six-month high of 8.4161 on December 21. After that, the bearish sentiment took over and thus allowed for a breakout of the aforementioned long-term channel earlier this week. It is expected that...
The US Dollar has been appreciating against the Norwegian Krone in a channel up for the last four months. The trading range within this pattern, however, shifted upwards when the rate failed to reach the bottom channel boundary three weeks ago. The same situation occurred last week. As apparent on the chart, the Greenback was trading between 8.2523 and 8.3509...
The USD is waking up and this cross seek higher prices. This maybe a good entry point for the next target of a bull trend The market pressure long term (+1.8) and short term (+5.5) give us the information that the cross is pushing up
After reaching the 2016/2017 low of 7.7018 on September 8, USD/NOK started a period of recovery in an ascending channel. If looking at the current situation, the pair’s latest wave down began two weeks ago and it is gradually leading the US Dollar towards the bottom boundary of the previously-mentioned channel. This movement has been stranded in a falling wedge....
USDNOK broke the moving average, suggesting a potential trend change. This in tandem with October's monthly bull candle gives me enough reason to believe an up trend is about to begin. My orders are placed at fibonacci retracement levels 1.0, 78.6, 61.8, 50.0, 38.2, 23.6. and 0.0. Each order contains a 30 pip stop loss and no take profit target. These trades...
The US Dollar has strengthened against the Norwegian Krone since mid-August, thus forming a channel up. If looking at the pair’s movement during the past two weeks, a junior ascending channel could also be distinguished. The Greenback is trading near the lower boundary of this short-term pattern, suggesting that a reversal might be in sight. This assumption is...
not every SHS pattern looks like textbook so check out this ugly friend of a SHS at Usd Nok..you can clearly spot a transition in price movement waiting for a neckbreak n close to long this pair
The US Dollar has appreciated against the Norwegian Krone during the past four weeks. As a result, the pair has formed two patterns, namely, a channel up and a descending wedge. It seems that the junior formation has already reached maturity; thus, a breakout, most probably to the upside, is likely to occur already in this session. Technical oscillators are...
I think the pair found the medium term bottom and we are heading up for a nice ride. We have a perfect double bottom. Expecting a retest and buy buy buy.
USD/NOK is currently trading in a short-term channel down. The given patter was formed when the US Dollar lost value against the Norwegian Krone within the last week, thus resulting in a breakout of a more senior channel. The rate halted at a two-month low of 7.7276 and has since recovered minor loses. Even though daily technical indicators flash bearish...