High short pressureWe are observing high short pressure on this cross
maybe a good opportunity for entering in positivite swap cross
EURNOK trade ideas
EURNOK buy setupHi guys,
The pair EURNOK looks like a buy. The pair nicely landed on the resistance turned support structure, and there has been a nice bullish engulfing signal and a clear follow on to the upside after. It is clear that there is more upside to be seen, and I am expecting a move to at least the previous structure high, as outlined on the chart.
Best regards,
Tom_Killick
EURNOK longterm daily/ monthly outlookEURNOK was in an uptrend on the daily chart since February 2017. The trend reversed in July as the trendline was broken to the downside.
There are three support levels that can act as profit targets. While profit target 1 and 2 might be reached this year, profit target 3 lies outside of a wedge/ triangle that was formed by monthly candles since about end of 2014/ early 2015.
If price does not break through profit target 2, it is likely that price will go up to the upside of the wedge/ triangle.
Monthly short set up on EURNOKMonthly candle analysis suggests EURNOK may move lower. This together with Brexit turmoil and economic instability in the world will help propel this pair down.
This instrument is now on my watch list for the month of August. I'll be looking for short signals on the daily time frame. Once I get a signal I will attempt to make entry on the 15 minute chart during London.
"Trade what you see not what you think" Bullish sentiment Validated confluences
1.Daily Trend-line broken
2.Support broken Resistance valid
3.Profit margin 1:5
4.Big buyers near 9.2700
Waiting for retracement to strong support which broke through the resistance if price action meets take profit and there no signs of reversal we hold to 9.4500 which increase the profit margin to 1:11
EUR/NOK D1 Supply zonePrice in control of Monthly Supply zone.
Price created new Weekly Supply zone and nested Daily Supply zone for potential short.
EURNOK has broken the triangleEURNOK finally broke the triangle that we've been waiting for. Great risk/reward ratio. Wait for the price to break the resistance for maximum safezone.
Let's wait and see what the price will tell us. Good luck!
EURNOK D1 shortEURNOK was in a huge uptrend but the trend reversed a few days ago. The price might fall even further if it crosses the support level. Otherwise it might continue the uptrend.
EUR/NOK 1H Chart: Channel DownThe European common currency is trading in a narrow channel down against the Norwegian Krone. The given pattern was formed after the rate failed to reach the upper boundary of a rising wedge. Nevertheless, the price has altered its direction, as apparent from its failure to reach the upper channel boundary. The rate plunged mid-session, but was supported by the monthly S2 at 9.3007. Thus, the upcoming hours should indicate about its future direction. Technical indicators are generally bearish, suggesting that a breakout is likely to occur to the downside. This scenario may realise in case the aforementioned S1 is breached. The nearest resistance is formed by the weekly S1 at 9.3329, while the 55-hour SMA circa 9.3800 might be considered a more significant upside barrier.
EURNOK : is trendline can hold it?it is the nice setup if you want to sell.
But wait the price to consolidate and breakout support for sure is better.
EUR/NOK in wave 2 FX_IDC:EURNOK
1- Currently in wave 2 of 1 of C or 3.
2- Wave 2 found resistance at 78% Fib retracement.
3- Bearish Candlestick.
4- Stochastic OB
Sell at current market price
Picking up LongtrendAgain we try to pick up a long trend with a great Risk Reward Ratio!
We also have a conclusion with the S1 Pivot Point level with a Jack-Hammer Candlestick Pattern confirmation on H1
Could NOK be outperforming EURO soon?EURNOK is currently in a topping pattern; RSI is showing divergence. Short would aim at the bottom of the pattern first.
EURNOK: Techno-Fundamental TradeA very interesting pair to short based on a fundamental story and a technical set-up.
The fundamentals favor NOK going forward in terms of growth and yield. NOK is effected by OIL, so this simplistic picture is a bit distorted.
Looking at the chart, a small short just under 61.8% (9.9550) or a watch at 9.5622 for a short, might make a short-term trade, which could snowball into something else.
3 hour:
1 hour:
EURNOK 3 Month Supply Zone in ControllAfter rallying the last 3 consecutive Months, EURO seems to loosing steem right at the top of a Monthly Supply Zone (within a higher 3 Month Supply Zone). Short Bias
