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U.S. DOLLAR / NORWEGIAN KRONE

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USDNOK trade ideas

USDNOK: Buy signal.USDNOK is trading inside a Channel Up for almost four months, with the 1D MA50 supporting as the medium term Support. The very healthy bullish 1D technicals (RSI = 62.188, MACD = 0.074, ADX = 41.092) indicate that the current price action will lead higher so we are buying into today's strength and aim at another +4.60% rise (TP = 11.500). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
USDNOK Pull-back in full motion. Buy it.The USDNOK pair is trading within a 1 year Channel Up with the price above both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). Last week's rejection on the 0.786 Fibonacci retracement level is similar with the one in March 16 2023, which after pulling back to the 1D MA50 and was contained above the 0.382 Fibonacci, it reversed upwards to a new Higher High just below the 1.236 Fibonacci extension. As a result, we will buy the current pull-back and target 11.5000. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
USDNOK, Major Head-Shoulder-Formation, Here Is How It Completes!Hello, Welcome to this analysis about USDNOK and the 4-hour timeframe perspectives. In my recent analysis, I discovered some interesting signs forming in USDNOK which are important for the upcoming determinations. As when looking at my chart now we can watch there how USDNOK is about to complete this major head-and-shoulder-formation with the left shoulder and the head already completed and now USDNOK is about to continue with the right shoulder in the structure which will finalize likely as there is a main local resistance-zone marked in my chart in red from where USDNOK is likely to pullback and continue to complete the right shoulder in the schedule. Once USDNOK is below the 65-EMA in green and the 35-EMA in red the whole formation is likely to complete as the EMAs already formed a bearish crossover. Once USDNOK finally breaks out below the neckline as it is marked in my chart USDNOK will have finalized the whole formation and it will be the appropriate setup for the continuations to the downside as well as activation of the head-and-shoulder-target-zone marked in my chart in blue within the 8.62 Usd level. Once the target-zone has been reached the situation needs to be elevated anew and if USDNOK manages to firstly stabilize in the structure or sets up a further continuation to the downside, it will be an interesting and important development ahead. In this manner, thank you for watching my update-analysis about USDNOK and the main head-and-shoulder-formation likely to complete and activate targets in the upcoming times, support the analysis with a like and follow or comment for more market insight! "The high destiny of the market is to explicate, rather than to speculate." Information provided is only educational and should not be used to take action in the market.
by VincePrince
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