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Norwegian Krone/US Dollar

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NOKUSD trade ideas

USDNOK-SELL strategy Daily chartThere is strength in the pair, and USDZAR has come back as well in strength. However, we are near GANN resistance 10.7400 and 10.9200. The stochastic is high 90.0 so I suspect we must carefully continue to SELL the pair. It is difficult to change view point in this case, since we did not correct the pair as yet, as the conditions have not changed technically, is my viewpoint. Strategy SELL or ADD @ 10.7850-10.8250 and place stop-loss above 10.9750. Profit order @ 10.3250 for now.
Short
by peterbokma
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Long
by GMthepipgod
USDNOK-SELL stragegy Daily chartWe are in a range for now between 10.3850 and 10.0300 area. The shape of the channel suggest it will become a continuation pattern, and for that reason I prefer SELL into rallies. The range will remain wide, so we require deep pockets for this one. The stochastic and RSI are turning, but not confirmed SELL as yet. Pressure exists though, and for that reason I feel we remain or should be short. Strategy SELL @ 10.2300-10.3150 (or sooner depends to your risk appetite). Take profit @ 9.8350. we need break of 10.0300 of course, but am estimating the GANN angle and it feels we go south more than before. Stop-loss above 10.3950 only.
Short
by peterbokma
2
USDNOK-BUY strategy 4-hourlyt feels the pair has been behaving like a fixed exchange rate. we have range for many, many sessions, and this may discourage anyone for committing to a trend. The cloud is supportive with support 10.0400 (base cloud) and 10.1390 above cloud. The base- and conversion line are identical, and for the rest stochastic is NEGATIVE. The daily chart shows we are positive for higher levels to be seen. Strategy can be twofold: 1. BUY @ 10.1500 and place stop-loss @ 10.0250, and taker profit @ 10.3750 2. SELL @ 10.1900-10.2100 and place stop-loss @ 10.2350 and take profit @ 10.0575.
Long
by peterbokma
USDNOK: Confirmed Bullish Butterfly at Structural Demand LineUSDNOK is sitting at the Demand Line of an Overall Bearish Ascending Broadening Wedge Pattern that happens to align with the 1.272-1.618 PCZ of a Bullish Butterfly; along with that, we have PPO Confirmation, RSI BAMM, and a MACD Bullish Crossing. Given the scenario, I can see this trying to retrace up 50-88.6% of the Harmonic Range before coming back down and confirming a partial rise, after which we will then possibly have to look for opposing Bearish signals.
Long
by RizeSenpai
USDNOK-Mixed strategyIt depends to the overall purpose. If we look at the 3-hourly chart, we have resistance 10.0940 area DC top, and support GANN 9.9700 roughly. So we would play between those bands short-term. If take the daily chart, we got DC support below 9.9200 and for the rest we are open until 10.2100. Strategy 1 - SELL current @ 10.0750 and place stop-loss above 10.1025 profit @ 9.9850 Strategy 2 - BUY @ 10.0450-10.0700 and place stop-loss below 9.9200 and take profit @ 10.2075.
Long
by peterbokma