Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
We had to back out to the 1D to get a more clear picture. We have an ascending trend line with numerous reactions. We have come down to that point as well as being oversold on the RSI. If this dips below, I’d want to see it come back to test before heading further down. Or, it could easily reverse to head back up.
FOLLOWING LAST WEEKS DOWNTREND WAITING FOR RECTANGLE TO BREAK OUT OF CONSOLIDATION 4 HR FULL BEARISH CLOSURE BELOW 9.66065 CONSOLIDATION, ENTER SHORT
The better than expected conditions of the oil production in Norway is helping bearish investors to rally in sessions. The downward momentum is projected to last until the first half of June and potentially drag the USD/NOK lower and lower. The Norwegian krone is strengthening thanks to the optimism in the country’s oil output and considering that the crude market...
USDNOK looks to be breaking above and possibly retesting this descending trend line on the 4H. The next couple of closing 4H candles could indicate a clear direction.
USD/NOK could give us a long swing soon, however a further dip into the support zone cannot be ruled out. As long as we are in the support zone there should be could buying prices.
We have broken down below the trend line. We are currently retesting. The next 1-2 4H closes will tell you direction. Either back up above or we fall below. If we fall, we could fall pretty far to the next clear support zone.
USD is at a level against the Krone that offers an attractive risk/reward for a long (or short NOK).
Distribution occurs prior to a downtrend. Distribution is the process of "smart money" selling shares without significantly affecting price. Source: school.stockcharts.com The attributes of distribution: 1) It occurs after an advance. 2) Price should form some sort of a topping pattern. E.g. a double top, rising wedge, etc. 3) Price should not be making new...
Experts are betting on a bearish trajectory for the USD/NOK exchange rate for several factors. First, currencies that aren’t closely linked to the conditions of the commodity market and crude prices are most likely the ones who can successfully and efficiently recover against the greenback. The Norwegian krone isn’t a commodity-linked currency thus raising the...
It is forming unconfirmed 123 pattern. Needs to break confirmation resistance to reach the target price.
price below kumo going SHORT otw ema200
We've got a pretty decent trend line with a number of reactions (stars). We've reached the trend line again. Is it going to continue down (we're retesting the break) or will it bounce back up?
A possible hidden bullish divergence is spotted on the 4H. Indicates underlying strength. Good entry or re-entry. Occurs during retracements in an uptrend. Nice to see during price retest of previous lows. “Buy the dips.” 200EMA supports price.