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US Dollar / Norwegian Krone

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USDNOK trade ideas

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
Technical Analysis of NOKUSD: A pressure cooker about to explodeThe weekly chart of NOKUSD reveals a descending triangle pattern, typically a bearish formation that often breaks to the downside. However, there is a notable divergence to consider: the Relative Strength Index (RSI) on the weekly timeframe is forming higher highs and higher lows, contrasting with the price, which is forming lower highs. This bullish divergence suggests that selling pressure may be waning and momentum could be shifting upwards. Should this divergence play out, it indicates a potential breakout to the upside, with a target of 0.11. Conversely, if the price decisively breaks below the support level and sustains that move, the downside target would be 0.078. Traders should monitor these key levels closely to confirm the direction of the next significant move.
by mohsen2sharif
1
USD/NOK- 1D- Bullish Butterfly PatternOn Daily time frame, Bullish Butterfly Reversal Pattern is appearing. Prior to Point C, a bearish divergence and Double top also appeared causing the Price to move in downward trend. If Price chart makes another LL below 10.68962, above which a support level also exists and price may bounce back a bit, then SHORT trade is in order. One can take the trade deep up to 9.4 price level as well, if pattern plays perfectly. However, I'm taking trades on safer side with risk/reward ratio: 1 and 2 for two trades respectively. My trade values are depicted on Price Chart.
Short
by Golden_Spur
USDNOK One of the best sells in the market.The USDNOK pair has formed a cyclical top on the 1D time-frame and is currently pulling back towards the 1D MA50 (blue trend-line). This level has been supporting since March 14 2024. If broken, we expect a a 2nd dip to the 1D MA200 (orange trend-line) as well and as it pierces through the (green) Ichimoku Cloud, stage a dead-cat-bounce back at its top and the 1D MA50. That should give way to the 2nd part of the Bearish Leg towards the 2-year Higher Lows Zone. Our target is on the top of that Zone at 10.400. Take profit earlier if the 1D RSI breaks below the 30.00 oversold barrier before the price reaches 10.400. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot