EURNOK ShortsHi traders, in this setup I am looking for short oppotunities on EURNOK.
Price broke the trend line and created a supply zone which I am looking at for price action to take shorts
EURNOK trade ideas
BUY Opportunity on EURNOKI'm expecting price to BUY from Support Zone on 4H at Bottom BB 10.49184 to Resistance Zone 10.53459. Take profit at 10.53459. Stop loss at 10.47040
Are you trading NOK or OSEBX?BE aware for change in trend. EUR/NOK have good support at these levels. unexpected and noticeable weakning of NOK should lead to short -term correction.
EUR/´NOK (Euro / Norwegian Krone)-> Analysis of 20 Aug.
-> Good Morning Friends, here is my 4H-Chart idea to EUR/NOK . -> (all further information can be found in the chart)
-> Please note: These analyses are not intended as investment recommendations! The analyses presented by me are in no way to be understood as financial advice! Please also note that you are always responsible for your own investments when trading on the stock exchange! The analyses are only based on my opinion and view. Many thanks for your attention
EURNOK: Downtrend continuation- This pair has been in a long term downtrend
- With the Euros short term uptrend against other Pairs the Norwegian Krona kept the Euro under control and gave up minimal territory to the Euro
- This trade was on our watchlist after we saw Lower highs and a Bearish pin bar/inside bar combo
- We entered this short trade following the break of the candlestick formation and a break of the 200 day MA
- We will add to the trade should the pair close below the previous lows at 10.45 level
Long Trade - EURNOKEURNOK doing a triangle consolidation, waiting for the break and then the retest of the Daily support to go long.
The EUR/NOG exchange rate is having some difficultiesThe euro to Norwegian krone exchange rate is having some difficulties climbing up in the trading sessions. But luckily for bears, the odds are looking better for the Norwegian krone. Looking at it, the strength of the Norwegian krone is mainly driven by crude prices and it’s also affected by the single currency and the performance of other currencies in the region. As of writing, oil prices continue to hold on despite the heavy pour of bearish news. It was recently reported that the Organization of the Petroleum Exporting Countries finally relaxed its historic production cut and the markets are bracing for more. This comes as major economies continue to open their economy and ease their travel restrictions despite the still increasing number of COVID-19 cases around the world. Earlier this year, the group agreed to dramatically reduce their production to prevent oil prices from plummeting, this also helped the cause of the Norwegian krone.
