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Krona

USDISK is gonna fly to the moon, again...After applying a fixed Gann sqaure to Icelandic krona weekly chart, we seem to have arrived to the start of a new Gann wave, which if correlated with 2 previous waves, should be a much steeper run to a new high at about 156 or higher. Ichimoku elements show bullish momentum as well (amazing how well Ichimoku aligns with Gann square ). Even if we take into consideration solely a double bottom (W pattern), price should hit 120 (the length of W move) pretty soon. USDISK´s rise aligns well with our DXY 0.00% 0.00% 0.00% ( dollar index -0.27% -0.27% -0.27% ) Gann projection, which is only to strengthen this year. One thing I do not understand, why does not Iceland´s government replace ISK (which as volatile as crude or bitcoin) with a more stable currency like EUR. Theu could have done so a long time ago, being EEA member.
Long
by ICFX
EUR/DKK About to declineThe common European currency has met with the resistance of a medium term pattern against the Danish Krona. Moreover, the resistance line is strengthened by the 100 and 200-period simple moving averages and the monthly S1. Meanwhile, take into account that the currency exchange rate is also facing the support of the weekly PP and the 55-period SMA. These two facts combined indicate that in the near future the pair is set to break out from this stalemate. However, due to the existence of a medium term channel down pattern, the breaking out to the downside is more favorable.
Short
by UnknownUnicorn890690
USD/SEK: trading short-entryGrowing divergence after hitting the weekly barrier at 8.5290 suggests sellers are returning again. Expect a breach of the trend line and a correction back to 8.3000, 8.1570 and roughly 8-even over the next days and weeks. Although the longer term is more or less neutral, broader USD weakness does support an aggressive short-entry strategy. Near term trend: neutral Long term trend: neutral/slightly negative Outlook: correction, moderately negative Strategy: avoid or aggressive short-entry Support: 8.3000 / 8.1570 / 8.0050 / 7.8600- Resistance: 8.4775 / 8.5290 / 8.66+ Outlook cancelled/neutralized: above 8.4775
Short
by buyem_nl
USD/NOK Dominant resistance is testedAlthough many resistance levels were passed on other US Dollar's pairs during the fundamental surge of the Buck generated testimony of the Chairman of the Federal Reserve Jerome Powell., the USD/NOK pair’s resistance has held its ground. Namely, the resistance of the large scale pattern, which represents the pair’s decline since late 2017, has held its ground. Its upper trend line had enough power to hold. However, it was strengthened by the weekly R1 at the 7.9194 level. Meanwhile, during the recent trading sessions a new long term pattern was spotted, which is a result of the pair bouncing off the lower trend line of a multi year pattern. To keep it short, the mentioned patterns are set to face one another in the upcoming trading sessions and a triangle pattern is likely to form and result in a break out.
Long
by UnknownUnicorn890690
EURSEK Lets short it for 1500 pips!Trading method: RSADVANTAGE Stage 5, accurate system manually forward tested over 3 years designed to stay out of ranging markets and only target strong trends suited for swing trading. This system is made of custom adaptive volume indicators and Oscillators that properly detect trends very early and provides exit signals at dynamic S/R zones once the trend has ended. // Average yearly pips gained is 40k per pair on D1 charts alone. I have provided a similar limited version of the system on Trading view to help traders visualize the strategy. EURSEK To open SHORT positions for EURSEK , it is required: In this situation our system indicators to confirm trade entry confirmation for movement to the downside but if the market trend continues to range this signal will become invalid. Market execution for entry, I will confirm signal once the conditions have been met. Risk Description: Once signal is confirmed we will excecute more positions on the position on H1 and 30M charts. Minimum 1500 pips will be up for grab with small risk SL at swing high. Target 2500 pips Profit expectations: 1-4 day trade length expected before hitting profit target I will post exit strategy when signal receives a exit signal.
Short
by UnknownUnicorn1372988
EUR/SEK 1D Chart: Channel in TriangleBy large the slow moving low volatile EUR/SEK pair has been slowly moving in an ascending channel pattern on the daily chart. However, it has experienced a distinct spike in the second half of September, which in general is a cause for caution. Meanwhile, on a larger scale the currency exchange rate has formed a massive scale triangle pattern. The tip of the triangle is located almost at the 9.50 mark and in the year of 2018, which means that the triangle might hold for a long time. Although one should watch for possible breakouts near its borders. In regards to shorter term trading, the pivot points and the daily simple moving averages are a good guide.
by UnknownUnicorn890690
EUR/SEK going down on all scalesThe common European currency recently reached the upper trend line of a junior descending pattern against the Swedish Krona. Due to that reason the pair can be considered at a significant crossroads for short term traders. If the pair passes the resistance, which is a lone one, it would surge first to the 100-hour SMA at the 9.50 mark and later on to the resistance cluster located from the 9.5110 mark to the 9.5165 level. On the other hand the rate might fall and search for support in the 55-hour SMA at the 9.4825 level. In addition, if the 55-hour SMA continues to decline, it will be strengthened by the weekly S1 at the 9.4796 level.
Short
by UnknownUnicorn890690
Krona trading hourly channelThe hourly chart shows solid upward movements consistent with our expectation that the 9.5103 Fibo retracement is up for tests. The pitchfork holds its ground, while a junior channel leads the rate south, facilitated by very bullish-looking SMAs that rest beneath. Resistance at 9.5279 forms an ascending triangle, which has just been broken and then reinforced, giving reason to believe that some more hitches could come from the area, but that eventually the rate will push through.
by UnknownUnicorn890690
Krona on the shoulderOn the daily chart, we see more reasons for a correction. Even though bearish momentum is quite strong with all three possible death cross signals having been posted in the last couple of months, the pair has started a small-scale up-wave, targeting the 23.60% Fibonacci level at 9.5503. The Commodity channel index could not be more indifferent with a reading of almost zero, and suggests that a real trend is yet to emerge. The pair is about to hit the Fibonacci Fan arc over the next few weeks, meaning that it is then that it will surely start eyeing the major cluster below.
Short
by UnknownUnicorn890690
Krona up for demand pressuresEUR/SEK had its ups and downs over the last 20 years or so, setting a high at 11.4465 and a floor of 8.1186. The latest downfall stripped off 31% of the pair's value, and has now resulted in a partial recovery after 8.3253 sent it skyrocketing. A rising wedge pattern is, however, signaling bulls to watch out and it might be time some downward risks remind of themselves. A newly sketched unconfirmed channel up pattern does not gain our trust enough for us to shift into green-zone expectations, but gives some guidance for unanticipated rallies. The weekly chart gives us more reason to believe that bullish momentum will not be sustained and that a dive is to come next. First of all, the pair has set an almost-perfect head and shoulders pattern, following a break outside of the trading range it had been bound by for several years. The shoulder is set at 9.6208 where the previous range boundary rests, but the pair is now approaching the neckline which clusters with the bottom boundary of the rising wedge – together providing very strong bearish potential, if broken around 9.4372. This cluster leads us to the next note – the pair is testing the very edge of the pitchfork which, along with a green cloud, neckline and wedge trend-line might cause a correction phase before weakness is gathered enough to dip beneath. When the zone is broken to the downside, risk will shift to 9.3151, the STARC band which also clusters with a Bollinger Band (not depicted in the chart), setting a strong target for a southward movement. Both CCI and ADX indicate a lack of trend and rest in the grey area.
Short
by UnknownUnicorn890690