EUXNOK trade ideas
EUR/NOK 1H Chart: Pair likely to breach triangle soonFollowing a southern breakout of a three-month ascending channel, the Euro started to weaken against the Norwegian Krone, thus resulting in a formation of an opposing channel. This pattern was likewise breached on Friday, thus leaving the rate in a symmetrical triangle—a pattern that has already reached its maturity.
Currently, the pair is stranded between the 200-hour SMA from above and the 55– and 100-hour SMAs and the weekly PP from below. Given the strength of the southern barrier, it is more likely that the former is breached. In order to confirm a surge, the pair should also breach the monthly S1 and the weekly R1 circa 9.7050. A possible upside target in this scenario could be the monthly PP circa 9.85.
On the other hand, the 9.56 area should limit further losses in case bears take the upper hand.
Target in aim EUR start to lose power and the cross want to go directly on the target delimited by the two supports in chart
A long term market pressure of - 11.7 confirm the downtrend
This analysis is based on market pressure.
On my twitter profile twitter.com you can find everyday the market pressure value for all crosses.
Have a nice trading !
EURNOK shortWait for the price to go up near the major resistance, then look for the reversal candle pattern to go short.
Probable shortIf the upper channel border which we are close to now (approximately 9.95- 10.00) is not crossed then a move down is to be expected. Moreover 10.00 is a psychological barrier. Even though I also take into account the possibility that the price will get to 10.20 for a while and then sharp move back will take place. Good luck!
2018 FORECAST WITH ABCDs "HARMONIC MOVEMENT OF THE PRICE"2 ABCD PATTERN:
A)THE SMALL ONE: 161.8 extension//
B)THE BIG ONE: 127.2 extension//
so Chance for "abcd-s"with confluence of fibonacci /////
EURNOK longIdea: Possible support and return long.
DISCLAIMER:
This is where I practice ideas and work on my trading techniques. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal. Trade at your own risk.
Update idea
EUR/NOK 1H Chart: Euro points to weaknessThe common European currency has been appreciating against the Norwegian Krone in an ascending since late September. This pattern has guided the pair up to the 9.9156 mark—its highest level during the past several years.
Apart from this channel, the pair is likewise trading in a junior one valid since November 21. Its slope is relatively steep; however, as apparent on the chart, the Euro has failed to initiate a solid wave up.
This suggests that a change in the bullish sentiment might occur soon. This assumption is likewise supported by technical indicators.
In terms of support, the pair might hinder near the 9.75 area near where the monthly PP, the 200-hour SMA and the weekly S1 are located.
Alright, EURNOK 2nd Time Around Bearish Bat ShortMy last EURNOK didn't go quite well, but thats okay, win some lose some. Anyways, I am going to strike this pair again. Going for a 26.18 and a Bearish Bat pattern at the same time forming.
The 2.618 trade is a great pattern invented by Jason Stapleton, kinda high risk pattern but is great as its always going to have a greater than 1:1 risk reward.. I am paring this 2.618 pattern with a bearish bat, together, will give me less risk more reward.
Lets see, price needs to bounce just a bit higher for me to get in.
Long long term EURNOK observedHello Traders,
Long Long term observed for EURNOK
Your reflection on my analysis I highly honor.
Thank you.
EURNOK shortTwo target prices (blue lines), first is on bullish trendline, on which we must see to add more short or wait for another retest of highs.
If first support fails, we could see further weakness in EUR, before correction and retesting of now broken bullish trendline, on which I plan to add more shorts.
EUR/NOK 1H Chart: Pair tests triangleThe common European currency is trading against the Norwegian Krone in a channel up valid since mid-July. The latest test of its upper line occurred on October 31.
Along the way, the rate entered another patter—a descending triangle. The general characteristics of this pair suggest that the rate should break out to the upside.
The rate hindering near the upper triangle boundary might serve as an early indication of such a move. This scenario would set the Euro towards the upper boundary of a junior channel circa 9.56.
However, the rate has been stranded between the 55– and 200-hour SMAs for two sessions. A breach of one of these lines is likely to set the tone for the subsequent movement. In case the 200-hour SMA is breached, the aforementioned scenario should occur.
Conversely, a breach of the former should guide the pair towards the 9.43 mark in the short-term and possibly even lower.
