USDNOK SHORT -TERM ✅OANDA:USDNOK
This is a short term deal!
Drawn boundaries mean target.
Drawn lines mean a return on price.
Do not forget that you can not trade without a signal because this is an analysis.
IRFOFC
USDNOK trade ideas
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!
USDNOKKnock USD down?
It's a simple bearish flag.
Presently, price has formed a Double Bottom. I look forward, to it been a failed LONG attempt for bearish confluence.
Smilq.
USDNOK - short-term buyPrice consolidates after an expanding flat, one more upward move is likely at least to test the high or the upper border of the channel
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.
USDNOKBUY
A high probability setup with very low risk.
SL should be at 8.75657
Make sure you utilize good risk management.
--THE BLUE FLAG SHOULD BE YOUR TP AS USUAL.
🔺 Disclaimer! The content of this analysis is subject to change at any time without notice.
🔺 It is provided for the sole purpose of assisting traders to make independent investment decisions.
🔺 You must do your own research to create your own trading plan for the market.
longggggit's time to increase . follow me . in weekly mood you can see chart throw ichimoko and 200 ema important things . you can sl to below those lines of ema and ichi
Round support, oil correlationI believe the price has bounced off the 9.0 level again. With OPEC that has been undershooting its targets in recent months, I don't see an oil drop, hence USDNOK is fundamentally bearish as well as technically.
Oil-Sensitive Currencies (NOK, RUB, CAD)My comment on Friday evening...
Oil-sensitive currencies (NOK, RUB, CAD) turning lower in recent sessions. Could it be suggesting that oil (still strong) may be overextended to the upside in the short term?
For more real-time insights and ideas, get in touch today.
Long opportunity for long termI expect to usd/nok prices go higher until mid of 2024,
It looks like From 8.50 to 8.40 range best place to long usdnok right now 8.21 or 8.05 might be your SL place according to your position.
Long Position entry Location 8.40-8.50
SL:8.21 or 8.05
TP1: 11
TP2: 12.75
TP3: 13.60
TP4: 14.90
Potential ABCD BAMM Currently Trading At The 800 Day SMAWe have a big potential ABCD BAMM in the works here that could send the USD up to the 2.618 if we bounce from here and we are currently setting up for a Reciprocal CD leg.
We are right on top of the 800 day Simple Moving Average and the CPI data releases tomorrow so we will probably know rather or not this was a good trade really soon after the release of the data.
USDNOKTechnical Analysis:
Potential Double Bottom located. RSI oversold on 4 hour. Mac D oversold as well. Although we have a strong bullish candle, momentum color change hasn't kicked in yet on Mac D. Only looking for a retracement. Not a home run. I would like to see price reach 61.80% of the previous high. Let's see what happens!
Fundamental Analysis:
Business Confidence has dropped in the most recent report from Norway.
Business Confidence has risen in the most recent report from USA.
Norway's' inflation rate has increased more than the USA has in the most recent report.
Norway has a higher GDP growth rate. However, USA has the higher GDP overall.
Norway Inflation rate is higher than USA.
Norway government debt has increased more than the USA compared to the most recent report.
Norway Retail Sales YoY has decreased while sales in the USA have increased.
Norway Housing Index has decreased while the index has increased in the USA.
Not Advice.
There is a chance that this trade may go wrong. That's just how it goes. The main goal is to continue practicing to get better!
Let's keep working!
Currency pair analysis usdnokIt is possible to reach the target by combining strategies 1 and 2 myself
Don't Miss this Buy Setup !Don't Miss this Buy Setup !
This is a huge opportunity to long this pair from the bottom.
This can be considered as an Extended W or trade it an accordance to the harmonic pattern highlighted in this chart.
EURNOK shortAfter breaking the SL, I changed the interval to a higher one, I waited for the price to reach the tops, I marked the zone. I got a signal from the market and opened short positions
USDNOK Entry Price 8.97804USDNOK Parallel Channel, Horizontal Support & Resistance, Diagonal Support & Resistance
USDNOKI believe it is time to short USDNOK.
The Oil bounces from 75.0 level and it is pretty significant.
If it is sustained, USDNOK should be dropping as the US is the oil importer and the Norweigian economy stands mostly on oil.
Talked about this in detail in the set-prep post a few days back.
USDNOK will hit psychological as Oil approaches supportUSDNOK is strongly anti-correlated to the prices of oil. Although the US imports most of its oil from Canada, some of the oil producers there are owned by a Norwegian company. Then, the prices are moving globally with oil being one of the most traded commodities.
Last time they USDNOK and USOIL both hit a psychological resistance, both reversed at the same time. USDNOK has fallen sharply from 9.0 level as oil has risen from a 65 level. Later on, the oil went for 200 EMA and USDNOK returned to 9.0 and bounced again.
I don't see any fundamental basis for cheaper oil. Even if there are lockdowns, they will be fairly limited and then, the demand is bound to stay high. Even more so with Europe concerned about winter and Japan starting to use its reserves soon.
So I find it very likely that Oil might stop and reverse at 75 or 70 level where the price meets 200 EMA, also. Of course, at that time, USDNOK will be around the level of 9.0 and that's when Norwegian Krona started to gain strength against US Dollar.
When the price action on both pairs supports the idea, I will be shorting.
USDNOK Target Price 8.93795USDNOK Exponential Moving Averages, Trend Lines, and Pin Bars In An Up Trend. Entry at the closing price of pin bars and rejection candlesticks.
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