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NOK

Sell the Green against NOKWhat are we trading here? Norway is outperforming in the G10, unemployment falling while inflation exceeding expectations. As a result, interest rates are moving in favour of NOK. The hawkish surprise earlier in the week from Norges Bank suggested that more hikes are necessary has been supportive of the currency. A key risk is Oil prices holding firm around current levels (starting to look less likely) and Norwegian data softening (not expected) Best of luck all and thanks for the support with likes, comments and etc.
Short
by ridethepig
Brexit, Bank of England and Norwegian kroneThe key event on Thursday was the announcement of the results of the Bank of England meeting. As expected, there were no surprises: the rate left unchanged, as the volume of the quantitative easing program. However, the statement that perhaps a gradual limited tightening of the policy may be needed, can be interpreted as a “hawkish” and this is good for pound. And before that, the British currency ignored the excellent data on retail sales in the UK in February (+ 0.4% m / m + 4.0% y / y, with the forecast -0.4% m / m + 3.3% y / y). The reason for such attitude is clear. This, of course, is about Brexit. Recall yesterday the EU had to give the UK a response regarding the postponement of Brexit. Brussels gave Teresa May a two-week delay. The current situation is: if next week the British Parliament does not approve the deal, then by April 12, Britain should decide whether to seek a much longer delay or British leave the EU without a deal. This could be used to buy the pound cheaper. Meanwhile, The Central Bank of Norway, raised the rate on Thursday. This is the second increase since last September. Against the background of the negative rates of the ECB, such actions of the Central Bank look simply defiant. As a result, the Norwegian krone continues to strengthen in the foreign exchange market. We recommend to pay attention to its medium-term purchases. Considering how aggressively the Bank of Norway is behaving. The current uptrend of the krona is in the process of being formulated Today is going to be kind of busy with macroeconomic statistics data such as: retail sales and inflation in Canada, indices of business activity in the Eurozone and the United States, so it is not going to be boring. Our basic trading positions are unchanged: we are looking for points for selling the dollar in the foreign exchange market. We are buying oil and gold, increasing the short position in ruble, and now we are taking a medium-term long position in the Norwegian krone.
by Trade24Fx
USDNOK: Long term outlook.This pair is trading on a 1W Channel Up (RSI = 56.066, MACD = 0.088, Highs/Lows = 0.0000) which is currently struggling to get past 8.8277. The danger of creating a Double Top rejection is valid and since we are inside the 1W Resistance Zone, long term investors should start considering a short. However until the Channel Up breaks we are targeting 8.8277 and 8.99500 in extension. If 8.40550 breaks we will short with TP = 8.04405. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
by InvestingScope
NOKJPY: Long opportunity on repetitive patterns.NOKJPY has been on a 4H Channel Up which according to its neutral RSI = 51.365 and Highs/Lows = 0.0000 has reached its Higher Low. This is a signal to go long. This Channel Up is identical to the previous sequence that made a 13.010 High. On 1D (MACD = 0.026, Highs/Lows = 0.0133, B/BP = 0.0028) the trend remains bullish as long as the 12.600 support holds. Our TP = 13.000. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Long
by InvestingScope
GBPNOK: Long on Channel Up buy signal.The price is trading inside a 1D Channel Up, which has recently priced its Higher Low (RSI = 54.649, MACD = 0.000, Highs/Lows = 0.0111). We are expecting a Higher High now, hence we are long with TP = 11.200. In case the price reverses to test the support we will open an additional long at 10.800. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Long
by InvestingScope
4
CADNOK: Sell opportunity on a Channel Down.The pair has been trading within a 1D Channel Down pattern (MACD = -0.003, ADX = 20.845, B/BP = -0.0351) with the neutral RSI, Highs/Lows indicating that it is near a Lower High level, hence an optimal short spot. As seen on the chart the High - Low sequence has been fairly straight forward and although it may hit 6.4600 again, the current level offers a respectable R/R sell opportunity with TP = 6.3040. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Short
by InvestingScope
USDNOK: Approaching a bottom. Strong buy opportunity.The pair has been trading within a long term 1W Channel Up (RSI = 55.524, MACD = 0.145) since last April and according to its neutral Highs/Lows (0.0000), it is near a Higher Low. Based on the Higher Highs/ Higher Lows measurements, the next Higher High is projected on a +6.50% rise at 9.0000. We are going long setting however a more modest TP at 8.82250 (practically the latest Higher High). ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Long
by InvestingScope