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Norwegian Krone/US Dollar

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NOKUSD trade ideas

USDNOK-BUY strategy Daily chartIt also has been a painful managed ride. The issue here, firm CPI and weaker US CPI etc. The ride down from above 10.80s and to the pre-CPI US numbers, was already a rich experience, and after we saw lows of 10.0950 area. The shorter time frames are heavily oversold and the 2-hourly has turn signals and we may see corrective action soon, is my personal view. Being LONG at earlier levels and managed, means we add at the lower levels with low leverage of course, or place proper stops is another protective way no doubt. Strategy BUY current @ 10.1000-10.1300 and take profit @ 10.2700-10.3000 for now. However, the correction could bringn us near 10.4500 overall, are my thoughts.
Long
by peterbokma
USDNOK Sell Opportunity: Anticipating Downside PotentialPair: USDNOK Entry: 10.46195 Stop Loss: 10.67581 (above fair value gap) Take Profit: 9.69620 Risk-to-Reward: 3.63 Strategy: Selling USDNOK as a short opportunity. Explanation: The decision to sell USDNOK is based on the anticipation of a potential decline in the exchange rate. Here are a few reasons why this is considered a short opportunity: Fair Value Gap: Placing the stop loss just above the fair value gap suggests that the price is near a level that is considered fair based on market analysis. This indicates a potential resistance area where sellers could take control. Technical Analysis: Additional technical analysis might indicate bearish signals, such as a breakdown of key support levels, bearish chart patterns, or negative momentum indicators. Traders may use these technical factors to support their short position. Fundamental Factors: Fundamental factors specific to the USDNOK pair, such as economic data, geopolitical events, or monetary policy decisions, might suggest a negative outlook for the US Dollar and/or a positive outlook for the Norwegian Krone. These factors could influence market sentiment and potentially drive the exchange rate lower. Risk-to-Reward Ratio: The risk-to-reward ratio of 3.63 suggests that the potential reward outweighs the potential risk. This means that the potential profit from the trade is 3.63 times the potential loss. Traders often look for opportunities with favorable risk-to-reward ratios to ensure that potential profits justify the risk involved. Remember, it is essential to conduct thorough analysis and consider multiple factors before entering a trade. This explanation provides a general overview but should not be considered as financial advice.
Short
by UpHighTrade
USDNOK long after false breakoutPrice broke the previous price structure located at 10,807 and making HH and HL. I will trade the retest of broken resistance, which will act as support. If you want to trade this idea, wait for false breakout and monitor the retest on lower time frames like 15M-30M or 1H. DO NOT ENTER earlier. If you don´t know what is false breakout, study. It doesn´t make any sense to enter earlier (because of the better price), you would just loose money. Green lines are TP, but also strong pullback areas, TP your trade partially. Wish you good luck. I´m not a signal service, don´t have 10K followers, do not selling anything. If you want to buy something, contact some signal service which will comment this idea. I share my own traded ideas. Check my previous ideas to know, what(and with who) you will trade.
Long
by Rendon1
1
USDNOK Can See More Weakness As Crude Tryign To FInd A SupportCrude oil is trying to stabilize ahead of the FED today, showing some interesting intraday recovery from around $67.00 per barrel. Can be a small impulse, but I want to see a steady recovery ehre and possibly a broken resistance line to make sure that w-x-y in E of (B) is completed. Also, the global oil supply fell 660k bpd in May on OPEC+ cuts, which can help to stabilize oil price going forward. With higher crude I like NOK. Keep in mind that crude oil and USDNOK, both traded south recently, but crude trying to stabilize now. If it closes higher today, then USDNOK can see much more weakness. Current bears on USDNOK are also acting impulsively so far. GH
by ew-forecast
2