My Weekly Analysis 44 Pt. 2I go through my currency pairs and analyze them while listening to music and talk to you guys.
*not a financial advisor*
NOKUSD trade ideas
USDNOK Can Fall Hard If Neckline Is BrokenUSD came down last week as sentiment changed when ECB raised rates by 75bp, so it appears that the USD will now give some moves back as other CB trying to follow the FED. We have also seen some rally on crud, as demand can increase as we approach the winter. Higher crude oil will have a positive impact on some commodity currencies, like NOK, CAD and even MXN, especially during the USD weakness. As such, we have decided to look at the USDNOK today as this one can have the most downside potential.
On a daily chart we can see that price came nicely higher last year, but recovery from 2021 low is overlapping which normally means it's a corrective price action. We see this as a higher degree pause in wave B that can be coming to an end after recent turn down from Fibo. cluster resistance area. The divergence line on the RSI also suggests that bulls can be done, especially if we consider the Head & Shoulders top formation. However, a trendline near 9.6 must be broken to confirm lower prices into the third wave of a decline.
USDNOK $USDNOK Long ScalpUSDNOK $USDNOK Long Scalp. TPs on chart. 50-200X leverage. Choose your own SL.
USD / NOK idea (31/08/2022)USDNOK
We expect more rise in the coming period since prices are above the support point of 9.45605, and we expect it to target prices of 10.0599 in wave ((iii)), and an extension may occur in the third wave and reach prices of 10.3552
My Weekly Analysis 41 Pt. 2I go through my currency pairs and analyze them while listening to music and talk to you guys.
*not a financial advisor*
USDNOK; Technical Resistance at 10.00USDNOK looking for higher resistance it seems. The 61.8, former wave two, and c=a at 10.00- psychological lv. Looks like a nice spot for bears up there. Crude also doing its thing, but should watch the reaction to EU reform of the power market.
Grega
usdnok buyusdnok buy .. head and shoulders .. buy above the resistance 1 and 200ma ... possible target resistance 3 ...
My Weekly Analysis 40 Pt. 1I go through my currency pairs and analyze them while listening to music and talk to you guys.
*not a financial advisor*
USD/NOK: The downside prevails as long as 10.0570 is resistance USD/NOK the price after a Long bullish trend, now it started to create lowers swings with the price standing below its 20 and 50 periods moving average. Our Bias is for a new bearish trend.
USD/NOK SHORT OUTLOOKFOREXCOM:USDNOK
Looks like we are heading to the downside.
The week ended with a bearish engulfing so we expect price to drop.
If we sense strong selling we will execute a short position and cash out.
Break and Retest of Parallel Channel ExampleAfter the break of channel resistance, wait for price to retest channel resistance-turned-support. Enter a market execution order after the retest candle closes.
USDNOK Daily develops CD Leg of Bullish CypherFX_IDC:USDNOK
18 July 2022
TRADE PLAN
PAIR: USDNOK
BAR SIZE: Daily
Looks like the pair is developing a CD leg of Bullish Cypher Pattern.
Let's see how the plan plays out
Disclaimer
Charts are EDUCATIONAL, not INVESTMENT recommendation
false breakout at the 10$ level?technically, we have a false breakout from the 10$ level.
if we will have a summer rally in stocks, we can give it a try with a short on this pair
usdnok 2 scenariosusdnok 2 scenarios .. 1]buy after the break above the resistance 1 .. 2] sell after the break under the support 1 and 50ma
USDNOK Sell setupUSDNOK is approaching a very key supply level. This is a good sell set-up as this is a fresh level.
THE HOLY GRAIL TRADE SIGNAL Buyers broken bearish pullback and it going to retest the high with the possibility of breaking the trend line and retesting the center
USD/NOK End of trend. Second attempt.Turtle soup pattern.
Just stopped out of first attempt.
Ready for another SL on this attempt.
Will fire again, with failure on upper trendline.
Any break above upper trendline.
should be a parabolic trust up, so plan is to go long if that scenario occurs.
Risk: 1% SL above daily candle with some wiggle room.
TP target: 8.6
USD/NOK End of trend.Price hacve hit a trendline and showing signs of exhaustion.
10.00 is also a major area for USDNOK, only been above this level once according to my memory ( covid crasy )
I expect price to come down and test the lower parallell trendline projection and with that confirming a channel.
Rate decision on thrusday 23 of june, and price likes to move before the decision and accelerate after the news.
Hiding stops above recent daily high just in cause my analysis is dead wrong.
USDNOK Potential Buy OpportunityWatch how USDNOK currency pair reacts to price level 9.76525. I am expecting a "bounce up" from 9.76525 price level.
USDNOK moving downUSDNOK has peaked for now, above is weekly chart. At least another week of loss before attempting another high. USOIL moving down from a peak also, USDNOK correlated to oil commodity.
USDNOKFirst, it will experience a return upwards and a collision with the resistance area, and then it will go down to the supportive blue trend line. If the pattern line is broken, we will have a drop to the take prafe point.
