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Euro / Norwegian Krone

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EURNOK trade ideas

EURNOK, LONG POSITIONLadies and gentlemen, boys and girls. Hereby you find my analysis for EURNOK. Those currencies (EURNOK) aren't that easy to trade in, but finally I could make something of it. I chose LONG POSITION because I saw a bullish three-drives pattern. I know you're asking yourself "Where is that pattern?" It's too small and invisible to see but if you take a close look at it, you will definitely notice it. Bear in mind that you won't make a lot of profit, but as one says "It's better to have something than nothing". Share your opinions with me and let's make FOREX great again (I hope you see the reference)
Long
by MyrvenMansour
EURNOK - 240 - Breaking the the upside support lineTrade Alert EURNOK has broken the medium-term upside support line, drawn from the low of October last year, and is now also testing the key support area, near the 9.7332. Such a setup favors the bears more than the bulls, which means we might see a follow through to the downside. For now, we will target slightly lower levels, as the euro is currently feeling a bit on the weak side. That said, given the proximity of the rate to the upside support line, we will still keep in mind the possibility for a strong reversal back above the upside support line. And if that happens, we might abandon the above-mentioned bullish scenario. Please see the chart for details. Don't forget your SL.
Short
by JFD_Research
EURNOK crossroad setup - breakout or fake outThe EURNOK has completed a Donchian shift from the lower to the upper channel. The price is breaking out of the 9.81 resistance as well as of typing this. HOWEVER, the breakout will only be confirmed with a successful close outside of the level. The 150 SMA is waiting for the price just a few points higher. If the breakout succeeds and if the price can stick to the outer Donchian channel, we might see the origin of a new trend emerging. Still a while to go for the potential breakout and if the price turns around, we might face a range bound market for a while. The EUR is not particularly strong as of now either.
by Tradeciety