In this update we review the recent price action in the USDNOK and identify the next high probability trading opportunity and price objectives to target
Also on the weekly chart, it bears downwards. I think we will have a real bearish rally.
Perhaps it is time for a sharp correction. I think so. Let's play!
USDNOK has seen a reversal pattern formation. We have also seen DXY retreat last week as fears of the fed rate hike eased a little allowing the DXY to print a new low. DXY could see a move down to 102 allowing more dollar weakness and this pattern to play out. All eyes on thursdays inflation data
$USDNOK - Now we wait... Another week for us traders to take advantage of Excellent set up for usdnok - now we wait for a break to either direction we do have key fundamental data this week. Will Powell be as before dovish or will he hawkish as well as that softer cpi coming our way expected and then taking into consideration the technical view of usdnok it's...
I think DXY may lose some ground in the next few weeks, to where no one knows against NOK there seems to be one of the clearest patterns a descending triangle, confirmed by the volumes on NOK Futures I expect a clear break below 10.40 and confirmation volumes on the futures, even if on the descending triangle they are not essential
Expect USDNOK to increase. Watch for buying opportunities for USDNOK currency pair.
USDNOK We expect the rise to continue in the medium term, targeting 1.382 percent at prices of 10.7305, and it may extend to 1.618% at prices of 10.9623 to end wave (iii). this rise continues since trading is above the support point of 9.7775
USD came down last week as sentiment changed when ECB raised rates by 75bp, so it appears that the USD will now give some moves back as other CB trying to follow the FED. We have also seen some rally on crud, as demand can increase as we approach the winter. Higher crude oil will have a positive impact on some commodity currencies, like NOK, CAD and even MXN,...
USDNOK $USDNOK Long Scalp. TPs on chart. 50-200X leverage. Choose your own SL.
USDNOK We expect more rise in the coming period since prices are above the support point of 9.45605, and we expect it to target prices of 10.0599 in wave ((iii)), and an extension may occur in the third wave and reach prices of 10.3552
Expect USDNOK to increase 2558 units. Entry at retest of trend line.
Watch how USDNOK currency pair reacts to price level 9.76525. I am expecting a "bounce up" from 9.76525 price level.
Main Pattern: probably weekly rounding bottom Entry now, Stop 9.45 Target 10,80~
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I used price action knowledge to gauge the momentum of the market and determine the weekly bias.
USDNOK reached the top of the Price Channel and seems to move nice down again to the bottom of this channel. Using the 4H charts with Pivot Point SuperTrend and Price Channel. For more profitable ideas, like this idea and follow us!