EURNOK - Euro / Norwegian Krone - H4 - Fib RetracementHello Community,
here is my long idea...
1. UP TREND
2. FIRST (Fib Retracement 50% - 62%)
3. SECOND (Fib Retracement 50% - 62%)
4. MY ORDER
best regards
EURNOK
Euro trying to break resistance against Norwegian kroneThe Euro has rocketed higher during the trading session against the Norwegian krone, reaching towards the 10.20 NOK level. This is an area where we have seen selling previously, so it would not be a huge surprise to see resistance in this pair at this level again. However, if we can clear the 10.20 NOK level, the market is very likely to go towards the 10.30 NOK level, which was the recent highs.
The 50 day EMA is starting to show signs of being dynamic support, and as a result it’s important to pay attention to it. With this, I believe that there is a bit of a “floor” at the psychologically important 10 NOK level, an area that had been very resistive previously, and is now offering support based upon “market memory” and of course the psychological importance of that figure. At this point in time, the market is going to be moving with oil as well as risk. The “riskier” the global situation is, the more likely this pair is to go higher. If oil rises, then that could put downward pressure on this market, depending on how strong and whether it can break above the $60 a barrel level. At this point, it looks very likely to continue pushing higher, but keep in mind that the OPEC meeting this week could throw a bit of a monkey wrench into the situation when it comes to the petroleum influence. With that, I believe that this market remains bullish, but a short-term pullback may be necessary in order to build up the necessary momentum to finally break higher and reach towards the recent highs again. A breakdown below the 10 NOK level would be extraordinarily negative, and as a result sellers would more than likely come in and push this pair down to the 9.85 NOK level, an area that was supportive in the past.
EURNOK Weekly Analisys Price is forming a very nice high timeframe set up for a possible swing where price is sittin on a strong weekly ascendign TL and the last two days prioce has rejected the Mp of 2x 38% that confirms a possible sell but befoire going short i must wait and see if price can close below that TL and current daily structure or in case price close above 10.1350 we might look for a swing buy on this pair
EUR/NOK Price Action Study For study and educational purposes of price action. Price reached an all time high in late October, and pulled back/sold to the point noted within the ascending channel. Price action study for possible continuation back towards previous recent high and possibly higher. Studying Price action at noted zones for movement towards higher highs or either exhaustion of bullish momentum and subsequent drop, in accordance with ascending wedge structure. I am more inclined to think we will see a continuation up towards the most recent high before a drop further. However, study of price action will tell.
EURNOK: Buy opportunity on the Rising Wedge.The pair is trading within a 1W Rising Wedge (RSI = 59.298, MACD = 0.080, Highs/Lows = 0.0000). Yesterday not only it made contact with the Higher Low trend line, but also touched the 1D MA50 (blue line). This indicates that the price has more probabilities to rebound towards a new Higher High. Our Target Zone is 10.400 - 10.500.
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EURNOK HEAD AND SHOULDERS - BEARISHWaiting for price to break both the Head and Shoulders Pattern and more Importantly the Ascending Channel, this Advanced pattern is invalid if price doesn't continue to break below this Parallel Channel. There's a chance price can Respect its channel and the market will Reverse Bullish, that is why it is so important we let price work its course and we will enter when price is showing us a continuation (Candle Sticks).
Euro finding support against Norwegian kroneThe EUR/NOK pair is a bit exotic, but it does give an insight as to how the Euro is doing in relative strength against crude oil. After all, the Norwegian krone is highly susceptible to pricing of crude oil, so this is an interesting and informative commodity pair. Looking at this chart, the EUR/NOK pair has tested the 10.05 level which was previous resistance, and now looks to be supportive.
The 50 day EMA is currently just below the trading over the last couple of days and hanging about the 10.05 NOK level. At this point, it looks as if the market is trying to form an inverted hammer, so a break above the highs from the trading session on Friday could send this market back towards the highs at the 10.28 level. Alternately, if the market was to break down below the 10 NOK level, then the market reaches down to the 9.88 level where the 200 day EMA sits. That being said though, the market is very likely to continue to grind higher based upon the overall trend, unless of course the Euro breaks down against currencies around the world in general. One of the greatest barometers will be the EUR/USD pair, which although bearish, isn’t necessarily breaking apart. At the same time, we would need to see serious strength in the crude oil market which has been basically range bound for the last several months although quite a bit of volatility has accompanied that. At this point, this is a market that can be used to trade directly, or to get an idea as to how to trade the Euro in general, and even crude oil as there are so many different inflections in this chart by the various bits and pieces that go in to pricing it.
EURNOK Head and Shoulder After the EURNOK broke the neckline of the head and shoulders It may go to 9.95 area.
EURNOK short 1/3 size positionstop @ 10.35 target 10.02 the reason why I say 1/3 size position is because at these levels the risk to reward is simply not great and that is why we plan to take 3 more postions if the trade moves against us.
2nd 10.1950, 3rd 10.2250 and 4th @ 10.2650 which will give us a better risk to reward scenario.
EUR/NOK - H4 CHARTHi, today we are going to talk about EUR/NOK
We observe a H4, some important points. The details are highlighted above.
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eurnok short @ 10.1588stop @ 10.2850 target @ 10.0330 should the trade move against me 2nd position @ 10.1930
EURNOK STRONG SELL IS COMING SOONhello everyone, strong sell will come to EURNOK at the all time highs! trade safe and trade with care! also check lower time frame for entry! if price keep pushing higher be patient and wait for the right time. sell is here at least corrective sell!
EURNOK upward movementafter breaking really strong resistance and all time high, now we are in buy zone for EUR continue upward
EURNOK is near historical highest price As you can see EURNOK is near highest price (green line) and tested this line many times and fails to break this. its nice trade to sell at this price and put SL on top of that. in the other hand trend line (black line) is really strong and had been test for many times and again fail to break that. so we can take short here till target 1. if trend line breaks, target 2 and target 3 are accessible
RISK ON, SHORT EURNOK for long term tradeHello fellow traders,
I expect all major markets to trade RISK ON since the FED announced QE 4, ECB starting QE ETERNITY, which is EUR negative, Brexit deal was just announced and optimism over a trade deal between the United States and China has ebbed.
