USDNOK to reverse from upside confirmation, potential drop!
USDNOK to reverse from its upside confirmation at 8.95097 where it could potentially drop further to 8.86434.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Usdnoklong
USDNOK to reverse from upside confirmation, potential drop!
USDNOK to reverse from its upside confirmation at 8.95097 where it could potentially drop further to 8.86434.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USDNOK to reverse from upside confirmation, potential drop!
USDNOK to reverse from its upside confirmation at 8.95097 where it could potentially drop further to 8.86434.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USDNOK to reverse from downside confirmation, potential drop!
USDNOK to reverse from its downside confirmation at 8.68724 where it could potentially drop further to 8.65682.
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USDNOK to reverse from downside confirmation, potential drop!
USDNOK to reverse from its downside confirmation at 8.72425 where it could potentially drop further to 8.68724.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USDNOK to climb from upside confirmation, potential bounce!
USDNOK to climb from its upside confirmation at 8.69565 where it could potentially bounce further to 8.72425.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USDNOK BULLISH TRADE IDEAHi Traders,
The USDNOK reversed from a weekly support level and broke out of descending trendline and resistance level.
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Price seems to be making an ABC zigzag corrective pattern which is likely to attract buyers at the 38.2 Fib ratio that lined up with swing level and moving averages.
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We will wait for the completion of the corrective structure and then look for buy entry once the price breaks the blue CTL.
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According to Elliot Wave principle, when wave (i) is extended, wave (iii) through to (v) is often 61.8 - 78.6% relative to the size of wave (i). So the price has the potential to move up towards the 61.8 - 78.6 Fib Extension level that lined up with a key resistance as planned on the chart.
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Thanks for reading!
Veejahbee.
POTENTIAL LONG SETUP ON USDNOKPrice completed a motive contracting leading diagonal wave and made a corrective ABC structure.
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The ABC corrective structure also ends with a double bottom pattern at the support confluence level and price has the potential to move up towards the resistance level.
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Considering that the price has broken the counter trend line, all the bullish criteria has been met. So we just have to place an order and see how price unfold.
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Safe trading!