USDNOK Formed a double top structure on the daily timeframe and from there we saw a breakout of the neckline and yesterday the price retested the neckline. The daily candle close was a pinbar showing bears attempt to push the price lower. All this gave reasons to go short.
What is your opinion on USDNOK?
There is a history of ranging before breaking down in this pair. See how it was ranging between 8.6450 and 8.3800 for several weeks before it broke below. Now we have something similar and despite multiple attempts during the past 6 weeks, this pair has been unable to close above 8.3800. This pair has clearly been on a strong bearish trend since Nov. and I don’t...
The Norwegian Kroner continues to strengthen against the U.S Dollar.
Higher Crude Oil prices are increasing the demand for the commodity-linked Norwegian Krone.
The Dollar is weaker due to lower interest rates and the negative balance in the U.S Current account.
In the video we look at selling the exchange rate, with take profit targets, stop loss, and entry...
We have a sell set up for the USD/NOK as higher oil prices support the commodity-linked Norwegian Krone.
We look at entry price, stop loss strategies using volatility analysis.
Both times retraced to fib 0.618 which means even if wants to complete daily elliot, it should first normalized to fib 0.618 as a rule of tomb. I want call this strong sell!
USDNOK expected to rise up to 1st resistance at 9.03979 where it could potentially react off and drop down to 1st support at 8.93861.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USDNOK expected to rise up to 1st resistance at 9.03979 where it could potentially react off and drop down to 1st support at 8.93861.
*Disclaimer.*
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities...
USDNOK expected to rise up to 1st resistance at 8.97772 where it could potentially react off and drop down to 1st support at 8.89307.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USDNOK reversed off its resistance at 8.92350 where it could potentially drop further to 8.76076.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USDNOK reversed off its resistance at 8.92350 where it could potentially drop further to 8.75474.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USDNOK reversed off its resistance at 8.92350 where it could potentially drop further to 8.75474.
*Disclaimer.*
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL...
