EUR/NOK will collapse soonOur algorithm has detected today a strong reverted cup and handle pattern on EUR/NOK in weekly (and also in 4H). The probability of a downtrend is 91% with the current configuration. Objective of gain is 8.5.
EURNOK trade ideas
EURNOK at important weekly levels - can we break the trendline?EURNOK is at important weekly levels again. Looking to short if we break the important trendline from even 4 years ago.
First target is marked on chart, but potential for this to go even further down.
EURNOK : SELLHead and shoulder.
Now it retest LOW.
IF it continue, it proove that confirm wave 3 or C.
TP around 8.56762
A major trendbreak? - 4 years trendline being testedFirst of all I hope you followed this trade idea in last two days on Twitter. Then you are already short in EURNOK.
If you missed the Tweets, no problem, it is still not too late. I show you why.
Weekly:
- Ichimoku setup is bearish: Price is below Kumo and Kijun, Tenkan/Kijun is bearish, Tenkan and Senkou A point down.
- Ichimoku basic rule of Kumo breakout says the break has to be validated by a lower low on next leg down. That would be around 8,90. This would also mean a clear break of the 4 years major strategic bullish trendline!
- Heikin-Ashi gives a sell signal this week! haDelta and DM_Oscillator dip below zero.
- EWO and MACD are bearish too.
If it breaks down, next bearish targets are 8,50 and 8,35
Daily:
- After some consolidation in the Kumo, and testing 100wma, it clearly turns back to bearish.
I called for this trade back in June-July. I took profit in October, and I was waiting very patiently for the pull back and the consolidation. Yesterday I enterred short again.
OPEC has changed the game, and Norway will be one of the big winners. As I also wrote in my previous posts, the Norwegian economy is very healthy with C/A surplus, no debt, but with already increasing inflation path!
I really believe this can be one of the big trend trades in 2017!
EURNOK Bearish oppertunnitytraders,
Its been a while, got another oppertunnity to go short on EURNOK. Likely to see more downside on this pair!
Best regards,
TRIANGLE PATTERNWe have a triangle pattern on 4hr time frame in development
There are a two possible scenarios: bullish and bearish.
My favourite view is we will have a move to upside as there is a monthly trendline I have marked as magneta color.
Wait for breakout first and enter trade with target as on chart.
Structure might change still as triangles develope long time often.
I will post update.
EURNOK bullish is resistance is broken !EURNOK entered a neutral phase and is delimited by an horizontal canal since beginning october. The price is currently fighting with its major resistance, if this resistance is broken, EURNOK will enter a bullish cycle.
EURNOK-Update: Bulls Strong, Upside Likely From Here! #ForexTraders,
UPDATE: Price moving very well since last posted this pair (see related ideas)
Strong bullish engulfing signal at the sideways resistance turned support. Bullish momentum to be seen here, to the highs of the range. Moving nicely into the highs of the range, expecting more upside.
I hope you have a tested trading strategy to trade this move when it starts
Thanks for your support
EURNOK: Bulls Very Strong, Upside Likely From Here! #ForexTraders,
Strong bullish engulfing signal at the sideways resistance turned support. Bullish momentum to be seen here, to the highs of the range. After such a gap down in FX, and an engulf, it shows the bulls are likely legitimate. Could be a very strong move.
I hope you have a tested trading strategy to trade this move when it starts
Thanks for your support
EURNOK weekly overviewI know that it's not a popular pair, but maybe somebody is interested in.
It seems we are near the next move down, so if it breaks, no doubt to sell and wait several weeks for big profit.
long opportunitywe have two reasons to go long , historical uptrend and the the price hit the trendline last week and created buy signal..just find an entry point on lower time frame ..good luck
EURNOK Short Based on some fundamentals the NOK is strong at present 1.5% 1M Change and the EUR more weaker 0.5% 1 Month Change i have added in some technical to short the EURNOK.
First TP is at the Pivot 9.01414 but i will be watching 9.05158 38.2% Retracement from 4 Week Low as it could change back to the upside here.
Further target if all red point are clear below final target would be 8.95804 1st level pivot support
Nice run, but consolidation comes. Cover shorts, resell higherPlease track back this trade idea! This was my best trade in 2016! Held and built position for more than 6 months.
Weekly:
- Ichimoku is turning bearish, but price reached long term trendline support.
- Heikin-Ashi has been nice bearish for weeks with strong momentum, but haDelta reached an extreme low. Consolidation is possible at first resistance, especially that price is also bit fr below Kijun now.
- EWO is bearish, but reached extreme low.
Daily:
- Bearish Ichimoku setup with supports at 9,13 and 9,20+.
- Heikin-Ashi signals start of consolidation/pull back.
- EWO is bearish, but we'll see either a small wave up, or some sideaway.
- Cover shorts for now, try to resell in 9,11 - 9,14 zone (in case of a sell signal)
EURNOK: Rsi Oversold + Diversion + Pattern + Wait for PA = LONG YOUR LIKE MATTERS : Give it a like if this has helped you in any way , follow for more ideas and daily updates.
PA: PRICE ACTION
EURNOK ShortExpecting a pull back during the early weeks of the month in order to shake off sellers who got it right and gather buyers to pay for the move down.
If pending order is not picked up by 1659 U T C -4 on Monday, October 31st, then the order will cancel.
