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EURNOK

USDNOK is facing a crossroadAs mentioned last week, we did not have any clear direction and the pair reflects high volatility for time being. However, we have due to French election touched the upper trendline since the highs in 2016 and now reacted down. From a weekly timeframe, a weekly close below 8,60-8,58 would suggest some kind of retracement, where support is found at 8,40 and lows 8,30's. Several other indicators are also now slowly turing down, which could support a lower move. In that matter, a short-setup could offer a fair risk-reward. Trade setup: Short entry from 8,58-8,60. Stop loss if we close above 8,65 on a daily timeframe. Target 1 is 8,40 and target 2 is 8,30. Play it safe and goodluck!
Short
by ACRO
Important level coming up in USDNOKSince the lows in february this year, the trend has been upwards with higher highs and higher lows. But recent top above 8,65 came with a negativ divergence and now we might face a possible trend-change. However, the level around 8,52-8,50 should be key for the next big move in USDNOK. Failure to hold this level, we will confirm a new counter trend with lower highs and lower lows. The levels to watch for, as in bull/bear line is 8,52-8,50. On the upside we have great resistance just above 8,65, and while on the downside we should find great support 8,41-8,43. Play it safe untill we see a better trade-setup, offering a better risk/reward.
by ACRO
EU Losing MomentumEU have had a good run lately, but it seems over, for now at least. EURNOK is a bit special to me. Won a lot, lost a bit, yet, I keep fixating on it because of the large swings and very clear formations it makes. Finally it has come to a point when it is either breaking out short or consolidating. Looking at the past six days, it couldn't make new tops, it's sliding downwards. To add on that, short-term MACD, RSI and mid-term Stochastic seems to agree on most charts, that it's going downwards.
Short
by chastic
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