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USD/NOK

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USDNOK trade ideas

USDNOK Channeling Towards 9.35Trend Analysis The main view of this trade idea is on the 2-Hr Chart. There appears to be an upward trend channel developing for USDNOK. Higher lows are observed around the 8.63 and 8.76 price levels. Higher highs are seen around the 9.00 and 9.10 price levels. Expectations for the fx cross to continue higher in the trend channel, taking USDNOK towards 9.35. A breakdown in the rally of USDNOK will be observed if the fx cross falls below 8.80. On the longer term timeframe, if USDNOK breaks above the resistance of the upward trend level, the fx cross can rally towards 9.80. Technical Indicators The technical indicators are pointing out that USDNOK will rally over the next couple of months. USDNOK is above its long-term Moving Average (440-MA) and is in a bullish mode for the Supertrend Indicator. The Supertrend is also producing higher lows and higher highs, similar to the upward trend channel. The Awesome Oscillator (AO) is above 0 and green and the RSI is above the 50 level. Recommendation The recommendation will be to go long at market, with a stop loss at 8.80 and a target of 9.35. This produces a risk/reward ratio of 1.60. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes.
Long
by Ceddy86
Short Vision on USD NOK for 22/02/2022Hello Dear Traders, You find below my analysis for USD/NOK, the currency pair is in the sell zone. I expect the price to fall. According to my set of rules, in the M30 frame USD/NOK will fall to 8.88 as I am showing in my chart. Our Daily Goal is 8.86. Currently, USD/NOK is moving towards the resistance level 8.98,where there is some liquidity from this value we are looking for short-term selling opportunities of USD/NOK. Good Luck and enjoy your Bearish Market for today. Entry:@8.98 TP1: @8.95 TP2: @8.91 TP3: @8.88 SL: @9.1 As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment. Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
UShort
by HugoAJROUCHE
USDNOK Elliot Wave 4 Hour ChartUSDNOK has a trading opportunity to the upside. In line with the USD index being bullish, there's high potential for the pair to follow suit. It suggests the formation of a regular flat, and the C wave is about to start. The smaller regular flat outside the channel has reached equal legs (100% fib extension) and might turn upside any where within the box. I'll check for trading opportunities there, but right now there is no clear indication of the a trade to the upside. It might tag the lower side of the box and then have an aggressive push to the upside.
Long
by SlowMobius12