EURNOK trade ideas
EUR/NOK_H4_4/27/2019H4
bullish engulfing on weekly timeframe
tendency is up
tested supply zone ahead
and a fresh supply zone
forexTrdr EURNOK- NOK THAT PAIR BACK DOWN FROM EXTREME LEVELSMorning traders,
This morning we have had the Swedish central bank come out and delay interest rate rises with market now pricing no rise until early 2020 (from mid 2019). This has had a secondary effect on the Norwegian Krona leading to a 700 pips drop versus the Euro. We are looking to capitalise on this move into extreme overbought territory and looking for a pull back into the previous trading range of 9.55 to 9.60.
The spike bounced off of resistance levels dating back to early 2019 and forming a descending trendline from previous high levels in April and early February as shown in our Trading View charts.
Simple clean trade on event driven news.
As always this is not a trade recommendation and simply technical observation.
Good luck trading
from the Team at forexTrdr
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Eur/Nok Swing Sell Hi All ,
Opening My 6th Swing Trade on this pair .
Price broke down major support level on M1 . Wait for the retest of previous Resistance turned support and enter your swing sell position .
For more information , Please contact me .
Many Thanks.
EURNOK - BuyWe have spotted a long term uptrend about to test the support line, looking to buy as long as support is not broken.
EURNOK - short on economic surprise differentialFundamentals:
-EU: eco slowdown continues, underpinned by ECB
-NOR: inflation picking up, central bank will further hike this year -> carry trade
-NOK gained even under risk-off sentiment
-CitiBank Eco Surprise Index (1mo) differential: -53.9 vs +53.6 in favor of NOK
EUR/NOK_H4_3/25/2019H4
potential head & shoulders
200 MA resistance on H1 timeframe
Tendency is upward
EUR/NOK_DAILY_3/25/2019DAILY
descending triangle
support at 9.64239
initial resistance at 9.70427
price above 200 MA
EUR/NOKH4
downtrend
possible bounce from the demand zone
bullish divergence
below 200 MA
trade idea - long
entry at 9.71108
TP at 9.78747 to 9.82278
stop at 9.69645
EUR/NOK_DAILY A
DAILY
sideways/downtrend
above 200 MA
initial support at 9.64430
possible triple bottom
RSI support at 34
EURNOK buy setup H1EURNOK buy setup H1
RSI divergence with possible formation of bullish shark pattern at support trend line. For a buy at 9.68653 , TP at 9.7498 and SL at 9.6564 you get a RR ratio of 2.11
TIME FOR EURNOK TO GO UP NORTH?Will we use the S/R consolidate here and go up from here or are we going to retest the old range first (BLUE LINE)? Im long on the midterm on this pair. looking at price action as a hawk for a new long entry.
EURNOK - 240 - Just a quick ideaThis is a short-term idea, which could potentially work out.
Only on a break of the 9.7880 that we will start looking further north. Also, in addition to the break, we would like to see a daily candle closing above that 9.7880 barrier, so that it could attract more buyers.
Please see the chart for details and the alternative scenario.
Don't forget your stop-loss.
EUR/NOK Bounce with "V"Bounce bottom/W + "V" with right structure on H4 ( if will break 123)
lot of space for move UP
EURNOK - Trend Reversal & Bat PatternEURNOK broke the downtrend line and made a new higher high. Looking for an entry at the Bat entry level for a long position
Shorting EURNOKAfter 7 days of straight bullish candles, we are now facing a reversal movement. MACD line is above the Signal line and both are below 0, which it gives us a better chance to go bearish. Same with Stoch RSI, already on an overbought level and ready to fall.
