EURNOK-SELL strategy 4 hourly chartThe pair is under pressure with a negative stochastic, and a close resistance of 11.3200 rounded.
Strategy SELL @ 11.2800-11.3000 and place SL above 11.3550 and take profit @ 11.0300.
EURNOK trade ideas
EURNOK Weekly M formationOn the weekly we have a clear M formation - the neckline is the take profit.
On the daily we kinda broke the structure - waiting for a retest
On the 4h waiting a restest of :
-38% fibonnaci
-EMA
-Structure
-MACD going above 0
EURNOK-BUY strategy daily chartThe pair chart pattern is looking great. It resembles a "falls bear flag" pattern and this usually indicates a sharp move higher from lows.
Strategy BUY @ 11.18-11.2300 and place SL @ 11.0450 and take profit @ 11.4350.
EURNOK-BUY strategy 4-hourly chartThe pair went much further than what I anticipated. However, even though rates are raised, market has carried away itself.
Strategy BUY @ 11.2150-11.2600 and place SL below 11.0850 and take porofit @ 11.5575.
EURNOK-BUY strategy 4-hourly chartThe pair has been extreme downside now, and it feels overdone. Stochastic very low, but negative still.
Strategy BUY @ 11.3500-11.4000 and take profit @ 11.6150 and SL let's say below 11.1550.
$EURNOK at a good levelGoing into the end of the year, I believe this is a good trade.
we are not at the 61.8 fib retracement and acting weak above the moving averages.
First trade small and I will add even on the upside until I have a full position
EURNOK-NEUTRAL SELL strategy 4 HourlyThe pair has room upwards, but its to near to objective expectation. The over all pattern suggest we move back towards 11.6000.
Strategy SELL @ 11.9750-12.0200 and place SL @ 12.1200. Profit order @ 11.6550.
EURNOK-SELL strategy Daily chartThe pair had a very good run up, and the current pattern resembles a 'falls bull flag'. This suggests we may see a reasonable pullback, and the stochastic is on the high side as well, but still positive.
Strategy SELL @ 11.8350-11.8650 and place SL @ 11.9150 (financial stop) and take profit @ 11.6550 for now.
EURNOK One of the best long-term sellsThe EURNOK pair has topped on the long-term having made a Cycle peak on the week of May 29 2023. So far however, the 1W MA50 (blue trend-line) has (nearly) held twice as Support, but both rebounds failed to cross above the 0.618 Fibonacci level.
This price action is very similar to the previous Cycle peak of March 2020, leading to a 1W MA50 rebound that again failed to break above the 0.618 Fibonacci. The direct consequence was a Channel Down to the 1W MA200 (orange trend-line) and the -0.382 Fibonacci extension.
As a result, we will sell as long as the price is below the 0.618 Fib and target 10.9000, a projected contact with the 1W MA100 (green trend-line).
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EURnok shortEurnok has seen some bearish signs over the past couple of weeks and it will continue in the same direction
EURNOK to start impulse move of downtrendEURNOK was observed to be undergoing corrective move during downtrend on 1H timeframe. However it has been noticed to retrace from 38.2%fib and is likely to continue impulse move of downtrend. No divergence on RSI has been observed. An instant sell order has been placed on retracement from 38.2%fib ; SL and TP have been proportionately marked on chart.
EUR/NOK Looks bearishIt is loosing its bullish strength and starts to look a little weak. EUR/NOK looks to be in a long term downtrend on the 4hr timeframe, which further confluence the heavy resistance it has right above. This also gives a clear area of demand waiting for it below to catch up a healthy trend.
Back to 11.32000 ?Here's what I see for this pair. Looks like an attempt to come back down to the 11.32000 level.
Short EURNOK huge dropMarket Talk Roundup: Norges Bank Raises Rates, Another Rise in September Is Likely
Aug 17, 202311:59 GMT+1
Norges Bank raised its policy rate by 25 basis points to 4% on Thursday, as expected, and flagged the likelihood of another rise next month given inflation remains high. It refrained from further guidance, however, leaving the possibility that September could mark the central bank's final rate increase. The Norwegian krone rises following the announcement. The following is a selection of analyst comments.
Norges Bank Poised For One Last Hike, Krone Could Strengthen From Here
1049 GMT - Norway's central bank is poised for one final rate increase in September, and with other major central banks either at or close to their peak for policy rates, the impetus to raise rates further is fading, ING's James Smith and Francesco Pesole say in a note. The last set of forecasts saw the policy rate peaking at 4.25% later this year and there's little reason to doubt that, they say. The krone is moderately stronger today and a period of stabilisation in risk sentiment could dramatically increase the currency's attractiveness, with ING anticipating a broad-based rally in the krone before year-end. The bank expects the 11.00 level in EUR/NOK to be tested before year-end. EUR/NOK trades at 11.5145, down 0.2% on the day. (dominic.chopping@wsj.com)
Norges Bank Versus ECB Divergence Seen Supporting Krone
1030 GMT - The Norwegian krone could be set to rise as Norges Bank is likely to raise interest rates further after Thursday's 25 basis-point increase to 4.0%, especially as eurozone interest rates look closer to peaking, Nick Rees, FX market analyst at Monex Europe, says in a note. "With the European Central Bank likely at the end of policy tightening and the Norgesbank set to keep on going, we expect a stronger krone as our base case all else being equal, especially given an explicit signal for further policy tightening to come," he says in a note. He adds that slowing global growth, FX purchases and oil prices could all play a role in driving EUR/NOK. EUR/NOK falls 0.2% to
EURNOK: Ascending Broadening Wedge Potential Partial RiseWe have a potential Partial Rise at a 61.8% Retrace within an Ascending Broadening Wedge Pattern on the EURUSD with a Bearish PPO Confirmation Arrow.
If we hit the Demand Line from here, it is very likely it will break down and hit the Measured Move Target down at 7.22
#eurnok long biasHey guys hope you doing good.
As we can see EURNOK MN demand is tested by the price and after all price just broke the descending TL on our entry time frames so its time to go long. Here we have got a very fine area to trade. Minimum we trade that as per its height. So good luck
EURNOK - Sideways (Buy/Sell Stop)After ending the bearish trend by printing last LH and LL Price goes in a range and left printing New Highs/Lows.
EURNOKAs the market is in non trending phase, we place buy stop and sell stop in order to enter in market when the market transition into the trending phase
EURNOK-SidewaysEURNOK is currently moving Sideways , making Support & Resistance
So taking
Buy Stop & Sell Stop
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