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EURNOK

EURNOK BULLISH TREND-HIGH PROBABIITY TO MAKE MONEYReversal pattern for EURNOK completed and ready to go. EURNOK analyze built reversal pattern what is a reversal pattern, Trend reversal patterns are essential indicators of the trend end and the start of a new movement. They are formed after the price level has reached its maximum value in the current trend. The main feature of trend reversal patterns is that they provide information both on the possible change in the trend and the probable value of price movement. What pattern do we have? A head and shoulders pattern is a chart formation that resembles a baseline with three peaks, the outside two are close in height and the middle is highest. In technical analysis, a head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal. source: Head And Shoulders Pattern Definition - Investopedia What is the target? The target will be probably around 10.60. Thank you to read and good luck .
Long
by Quotendance
ridethepig | Apple in the worm for CADNOKA very good time to update the short-term flow setup for CADNOK after such a brilliant squeeze. For those tracking the 2020 Macro flows: This week we have a simple technical move in play. A textbook case of "Apple in the worm" as it seems to me a poor choice of the moment for buyers to continue the advance. Extending the characteristics position (= swing configuration) by letting buyers go overboard and bet on momentum while the macro defence can be a reliable guardian. A better move is to sell the 6.99xx highs here with targets located initially at the support levels 6.865xx.. and then perhaps 6.47xx. The business of a bullish NOK did not become an attacking instrument; stops can be kept comfortably above the 7.00xx handle. Good luck all those trading CADNOK in the coming sessions, as usual thanks for keeping your support coming with likes, comments and etc!
Short
by ridethepig
EURNOK: Buy opportunity on 1D MACD.The pair is trading within a long term 1M Channel Up (RSI = 53.878, MACD = 0.135, ADX = 43.274, Highs/Lows = 0.0000) since Q4 of 2017. At the moment the price seems to have found Support around the 1D MA200 (orange line) and withi the 1D MACD making a bullish cross over, is expected to rise. According to a similar fractal in January 2018, the High of that spike could be around the 0.618 Fibonacci retracement level. We place our Target at 10.0700. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Long
by InvestingScope
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.
by Forex4you
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.
Long
by mrsceleste