EURnok shortEurnok has seen some bearish signs over the past couple of weeks and it will continue in the same direction
About Euro / Norwegian Krone
The Euro vs. the Norwegian Krone. Changes in oil prices and interest rates are correlated to the value of the Norwegian Krone when compared to other currencies. In other words, rising oil prices and interest rates brings Krone strength relative to other currencies and vice versa.
EURNOK to start impulse move of downtrendEURNOK was observed to be undergoing corrective move during downtrend on 1H timeframe. However it has been noticed to retrace from 38.2%fib and is likely to continue impulse move of downtrend. No divergence on RSI has been observed. An instant sell order has been placed on retracement from 38.2%fib
EUR/NOK Looks bearishIt is loosing its bullish strength and starts to look a little weak. EUR/NOK looks to be in a long term downtrend on the 4hr timeframe, which further confluence the heavy resistance it has right above. This also gives a clear area of demand waiting for it below to catch up a healthy trend.
Back to 11.32000 ?Here's what I see for this pair. Looks like an attempt to come back down to the 11.32000 level.
Short EURNOK huge dropMarket Talk Roundup: Norges Bank Raises Rates, Another Rise in September Is Likely
Aug 17, 202311:59 GMT+1
Norges Bank raised its policy rate by 25 basis points to 4% on Thursday, as expected, and flagged the likelihood of another rise next month given inflation remains high. It refrained from furth
EURNOK: Ascending Broadening Wedge Potential Partial RiseWe have a potential Partial Rise at a 61.8% Retrace within an Ascending Broadening Wedge Pattern on the EURUSD with a Bearish PPO Confirmation Arrow.
If we hit the Demand Line from here, it is very likely it will break down and hit the Measured Move Target down at 7.22
#eurnok long biasHey guys hope you doing good.
As we can see EURNOK MN demand is tested by the price and after all price just broke the descending TL on our entry time frames so its time to go long. Here we have got a very fine area to trade. Minimum we trade that as per its height. So good luck
EURNOK - Sideways (Buy/Sell Stop)After ending the bearish trend by printing last LH and LL Price goes in a range and left printing New Highs/Lows.
EURNOKAs the market is in non trending phase, we place buy stop and sell stop in order to enter in market when the market transition into the trending phase
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