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USDNOK trade ideas

$USDNOK Analysis - Harmonic Patterns and OutlookFX_IDC:USDNOK The USDNOK pair continues to demonstrate remarkable complexity with multiple harmonic patterns. Let's review the previous analyses and see how the latest setup fits into the overall picture. 📉 Current Analysis: As of September 12, USDNOK is trading with intraday support at 10.765. A drop below this level might indicate a significant decline, with a potential new bullish shark pattern emerging at 10.675, aligning with the target zone of the previous pattern seen at 10.876. 📊 Context of Previous Patterns: Recent patterns include a bullish alt-bat formation on August 28, leading to a resistance level at 10.737, with further upward movement towards 10.861. On September 11, the pair reached the 224% Fibonacci extension at 10.876, forming a bearish shark pattern that suggests possible downside moves with retracement targets below 10.677. Monitoring the support level at 10.765 will be crucial for assessing the next potential moves. Happy Trading, André Cardoso
Short
by Andre_Cardoso
Trading Signal: USD/NOK MovementAttention Traders, Our latest analysis using the EASY Quantum Ai strategy indicates a selling opportunity for the USD/NOK currency pair. Direction: Sell Enter Price: 10.8384 Take Profit: 10.78341333 Stop Loss: 10.87778333 Reason for the Signal: 1. Technical Analysis: Our proprietary algorithm, EASY Quantum Ai, identifies a bearish pattern forming on the USD/NOK charts. Key indicators such as moving averages and momentum oscillators are signaling a downward trend. 2. Economic Data: Recent economic reports from the US show signs of slowing growth, which typically weakens the USD against other currencies. Simultaneously, Norway's economy remains steady, boosting the NOK. 3. Market Sentiment: There is an observable shift in investor sentiment favoring the NOK. This is evidenced by increased trading volume in NOK-related assets and a general optimism around Norway's economic stability. Trading Plan: - Entry Point: Initiate the sell order at 10.8384. - Take Profit: Close your position at 10.78341333 to secure gains. - Stop Loss: Set your stop loss at 10.87778333 to limit potential losses. Stay sharp and manage your risk appropriately. Best of luck and trade wisely, The EASY Quantum Ai Team
Short
by ForexRobotEasy
1
USDNOK Is Still Eyeing June LowsUSDNOK is sideways for the last two years that looks like a triangle within uptrend. It's an ABCDE pattern where wave E can be in play, ideally still to the lower side of a range for subwave (C) after the recent subwave (B) rally. Notice that we see price turning sharply and impulsively from the upper triangle resistance line as expected, so wave (C) is in full progress which can push the price down to 10.30 - 10.00 support zone before we will see stabilization and recovery. USDNOK is not at the June lows yet, so we believe it's still in wave 4 correction before a continuation lower for wave 5 towards 10.30 – 10.00 zone. Ideal resistance is at 10.60 – 10.70 area.
Short
by ew-forecast
3
USD/NOK 1-Hour Long Signal Based on SMA/EMA Crossover and Bull BDescription In this idea, I want to highlight a potential long trading opportunity on the IBKR:USDNOK 1-hour chart, identified through a combination of technical indicators and thorough market analysis. 1-Hour Chart Analysis: A signal was generated as the 50-period Simple Moving Average (SMA) crossed under the 26-period Exponential Moving Average (EMA), triggering a long entry condition. This crossover, highlighted by the yellow background on the chart, marks a potential shift in market momentum, signaling a possible bullish move. The strategy also incorporated the Bull Bear Power indicator to confirm this signal. The indicator showed that the bear power has weakened, falling below a predefined threshold of 0.00140, which further supports the idea of a potential upward move. Additionally, the strategy includes an ATR-based stop-loss and take-profit calculation, providing clear risk management levels for the trade. The stop-loss is set using a 1.2 ATR multiplier, while the take-profit is calculated with an 8.0 ATR multiplier, both rounded to the nearest value ending in 0 or 5 for precision. Daily Chart Analysis: Looking at the daily chart, we can observe that the previous day's candle left a significant shadow, indicating possible rejection of lower prices and potential buying pressure. The MACD histogram on the daily chart shows early signs of upward momentum, suggesting that the market might be gearing up for a bullish move. Moreover, the price is currently hovering around a key Fibonacci retracement level, adding another layer of support to the bullish scenario. Trade Details: Entry Price: 10.5439 Stop Loss: 10.46065 Take Profit: 10.6218
Long
by Tezbot
Trade Signal Alert: USDNOKWe have identified a bullish trading opportunity for the USDNOK currency pair. Here are the details of the trade signal: Direction: Buy Enter Price: 10.8108 Take Profit: 10.85828667 Stop Loss: 10.72256667 Our prediction is based on the EASY Quantum Ai strategy, which leverages advanced algorithms and data analysis to forecast market movements. This Buy signal is supported by several key factors: 1. Technical Analysis: The USDNOK pair recently broke a significant resistance level, indicating strong upward momentum and the potential for further gains. 2. Economic Indicators: Recent economic reports suggest improving conditions in the US economy, which is likely to strengthen the USD against NOK. 3. Market Sentiment: Current market sentiment indicates a preference for USD over NOK due to geopolitical and economic uncertainties affecting Norway. We recommend entering the trade at 10.8108 with a Take Profit target set at 10.85828667 and a Stop Loss at 10.72256667 to manage risk effectively. Keep an eye on market developments and trade responsibly.
Long
by ForexRobotEasy
USDNOK Buy opportunity above the 1D MA50.The USDNOK pair has been trading within a Triangle pattern for the past 2 years (since June 2022) and right now is consolidating right below the 1D MA50 (blue trend-line) after holding the Higher Lows Zone. Within this 2-year pattern, every time the price broke above the 1D MA50 following a bottom bounce, the new Bullish Leg was initiated. Our Target is 11.000 (just below the Lower Highs trend-line). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
USDNOK Is Looking For More Short-Term WeaknessUSDNOK is sideways for the last two years that looks like a larger triangle within uptrend. It's an ABCDE pattern where wave E can be in play as pair stops at the upper side of this contracting range. Ideally, market is coming down for a pullback within higher degree wave E, where pair can complete the sideways price pattern. So for now, seems like there is room for more weakness within a three-wave (A)-(B)-(C) decline to the lower side of a range. Wave (B) looks to be a bearish triangle pattern, unless it's going to be more complex, but sooner or later it can send the price lower within wave (C) of E towards to 10.30/10.00 support area. One of the reasons why USDNOK could face more weakness is also bullish looking Crude oil, which can boost the Norwegian Krone.
Short
by ew-forecast
1