USDNOK has now tested trendline established since early 2016, where the last touch point was due Brexit. The recent move upward has been on declining volume and created a negative divergence which supports a possible failure of breaking resistance @ 8,50. In that matter, this pair should offer a nice risk/reward for a short play. Trade-idea: Short entry between...
Triangle may broken assinding direction as all signals shown on the chart. Target can be around $23.5 up to next March 2017
UKOIL moved to down to the resistance area if it closes below 51.00 oil will be going down to 48.50 if the 48.50 level breaks we will see further lower point for oil 41.50
Sell the rejection of green channel.
price should retrace and hit the 14 point average and just touch 618 fib ratio before going lower, stops are placed at previous high. it should go as low as 48-49 before retesting the top at 52.93-53.
Bearish divergence here at FIB 0,5 = 47,6 now , could it make it turn down again ? It maybe depends on USD also, if it will turn back up again, after FED's no rate-hike 21.sept.....
BTW, API Reports 12.1 Million Barrel Draw of US Crude Oil Inventories earlier today. Also there is EIA report coming tomorrow morning 11:00AM New York time. Oil is still bearish in the big picture as long as it's below $51.20. GL
USDNOK is again testing horizontal support around 8,15-8,10 area. For now, we have seen a possible bounce from support on the 4H timeframe. In that matter, we should have a great long-setup with entry around 8,18-8,16 with a stop loss if we close below 8,14 on a daily timeframe. On the upside, we have target 1 at 8,25 and target 2 up against 8,30. This should...
The price has moven quite fast in USDNOK since the bottom mid-august and currently testing 50% retracement from highs due July this year. If we fail to break above 8,36, we should see a test of the recent breakout area around 8,25. In that matter, I believe this pair offers a great trade setup (short). Trade setup: Short from 8,33-8,35 with a stop if we close...
Support levels: 48.49, overall upward flag
EURNOK has fallen to great support just above 9,20 area, including horizontal support and a long trendline since the bottom since april/may this year. For now, we might have seen a whipsaw of possible longs, as the price was below trend support. If the price manage to go above the trend and close higher than current level, we might see a possible rebound. Long...