EURNOK
EURNOK Breakout 3TAPWaited for this to happen for some time now. Hopefully patients will pay off. I have a pretty aggressive short position. Be aware of my stop loss. It is large, but it needs to be over the breakout line so I do not get stopped out if/when stop loss hunt begins. Profit could be bigger than I show, but currently I limit it around 8.83730 which is the last time 200MA had a consolidation. (Zoom out on the chart to see)
EURNOK Norse resistanceEURNOK might not be the most popular pair, but it sure is graphical. Look at this 4TAP formation. You can be sure if that breaks, it will fall like a stone. If not, it might bounce up to a nice long which will eventually find support resistance again at 55MA, if it breaks that we look at resistance at 200MA. Really looking forward to see what eurnok does over the next week.
EURNOK LongEURNOK has hit a resistance level at around 8.929 and I would look for a rebound upwards. There is also a wedge forming which further emphasises the long recommendation.
We can also see an uptrend on CCI and RSI was close to being oversold before it showed some momentum upwards.
I would look for a return to the diagonal trendline as a first target, and a return to around 9.12 as a second target.
Eurnok Short At Major SupportANALYSIS AND RESEARCH:
We can say that it is moving in clear consolidation zone and for most traders this area is more interesting for trend reversal trades and it acts like the same so in our opinion if it drops more and breaks below lower trend Line then we can expect it to drop more towards the flag possibly.
Eur on overall basis acts as weak pair so keep an eye on that as well.
Extra News Related to this Pair:
According to zukumati sarkoshi our cheif analyst saying that if it drops below the lower major support it is armageddon for eur/nok pair let us see which way it will fall.
EURNOK - UPTREND FORMING(?)This post is a bit hypothetical and completely out of character for me, because I usually trade after I've received complete and total indication that moves are going to play out in my favor, but I've seen this pattern play out so many times that it seems silly not to at least make you guys aware of a possible way this pair could develop. I see an uptrend forming here, considering the strong RSI, as well as the recent bounce off of the support. Keep an eye on this one, and get in if you feel comfortable.
EURNOK Resistance + very bearish price actionTook a position two days ago on 9.08 due to bearish price action and resistance on 100day average + 0.382 fib. Got some very bearish candles these last two days confirming the bearish bias with first TP on 8.93 area.
Also hoping for a break of the rectangle and a continuation of the downward channel/trend.
EURNOK : SELLHead and shoulder.
Now it retest LOW.
IF it continue, it proove that confirm wave 3 or C.
TP around 8.56762
EURNOK Short Based on some fundamentals the NOK is strong at present 1.5% 1M Change and the EUR more weaker 0.5% 1 Month Change i have added in some technical to short the EURNOK.
First TP is at the Pivot 9.01414 but i will be watching 9.05158 38.2% Retracement from 4 Week Low as it could change back to the upside here.
Further target if all red point are clear below final target would be 8.95804 1st level pivot support
EURNOK: Rsi Oversold + Diversion + Pattern + Wait for PA = LONG YOUR LIKE MATTERS : Give it a like if this has helped you in any way , follow for more ideas and daily updates.
PA: PRICE ACTION
It's a NOK-On! EURNOK is trading at some interesting levels, if the breaks key levels; I will be a seller.
(1h) Bearish Shark @ 224% extension confluence with 618% retraceFX_IDC:EURNOK
At Divergence...
Safe Trades;
EURNOK SHORT TRADE IDEA ON H2Looking for short trades on this pair after it made a corrective pattern.
EUR/NOK breaks major support 9.2570, good to go short on ralliesNorway's core inflation surged to record highs in July, dampening Norges Bank’s rate cut speculation.
The Krone has surged after inflation data release. EUR/NOK hit multi-week lows at 9.2094.
The pair has broken major trendline support at 9.2570 on the daily charts, we see scope for further downside.
50-DMA at 9.3507 is major resistance on the upside, while 9.1970 is next major support on the flipside.
Good to go short on rallies around 9.2500, SL: 9.3510, TP: 9.1970/ 9.1550/ 9.1375
UKOIL - Possible short trade setupWe have recently seen a nice rebound in UKOIL after the massive downturn due this summer from 50 area. As for now the price as has retraced around 61,8% from consolidation high around mid 48 area, which also acts as horizontal resistance around 46 area.
Short term, we should see some support around 43,50. If this level fails, we could very likely retest recent lows around 41 area.
In that matter, trend is your friend and a possbile short trade should be nice.
Trade setup:
Short at current levels (43-44 area) with 1/3 of desired size. Rest if we rebound up to 45,50-46. Stop loss if the price closes above 46. Target should be mid 30's.
EURNOK - possible long trade EURNOK has fallen to great support just above 9,20 area, including horizontal support and a long trendline since the bottom since april/may this year.
For now, we might have seen a whipsaw of possible longs, as the price was below trend support. If the price manage to go above the trend and close higher than current level, we might see a possible rebound.
Long trade setup:
Entry around 9,23-9,25. Stop if we close below 9,21 on a daily basis. target is set to 9,40.
