The NOK could have finished it's flat correction. Oil is set to weaken again and it would hurt krona. Minimum target is at the previous top 8.99
as you can se we have weekly and daily patterns and divergence so for those with big accounts you can hold a short position. but for smaller accounts i will post a lower timeframe projection for you
Icelandic krona reached a critical level. It formed a classic double bottom (bullish reversal pattern) on monthly. By double bottom rules it should hit 119 (height of double bottom projected from upper double bottom neckline) pretty soon. There we also have Ichimoku cloud resistance, RSI trendline and Gann (Fibonacci) angle as you see. So 120 is critical level....
This may be reflect a possible Elliott Waves Count for the pair!
Short CHFSEK @ 9.40; TP @ 9.212, SL your choice
Price was pushed off weekly 50 Fibonacci level forming a shooting star on daily. Half of the move already took place and this is how far we can short on hourly after Fib extension (there is cloud support on 4 hours | weekly | monthly and daily tenkan-sen at that extension).
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...
Overbought and a retest of previous highs in the 8,50 area stop loss 8,35 target 50% of trade 8,90 rest will follow to highs around 9,35-45
Short CADSEK @ 6.7334; TP @ 6.5979, SL your choice
The 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...
Growing 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:...
By 2020 it should reach the upper side of the flag and at that point an upward breakout should occur. The breakout move usually equals the height of flag´s pole.
Long SEKNOK @ 0.9250' TP @ 0.9440, SL your choice
Short CADSEK @ 6.705; TP @ 6.5712, SL your choice
Short GBPSEK @ 11.8228; TP @ 11.5864, Sl your choice
Long CADSEK @ 6.2643; TP @ 6.3895, Sl your choice
Although 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....
hi all i think buying area is from 7.397 and 7.49 is more safer for targeting 8.50 then 9.05 and more good luck