Get started

NOKJPY

NOKJPY | Daily Outlook | Trade IdeaLooking at the Norwegian Crone/Japanese Yen (NOKJPY) daily chart we can see that it has been ranging for a while after bouncing of our key price level at 12.250 a few months back and has been consolidating since then after failing to break above 12.880. Now looking to the right we can see that NOKJPY just broke out of our current consolidation and if it manages to close below 12.600 I’ll be looking to hold my sells all the way down to 11.620 with my stops at 12.800.
Short
by mosa_moshka
FX Update: One-two punch with USD-, and now JPY strength.Summary: The strong USD and now a strong JPY, together with other market indicators suggest a rather strong wave of risk aversion rolling over markets here on spreading Covid restrictions in Europe and as we await the US Fed Chair nomination announcement and wonder to what degree it matters beyond a knee-jerk reaction. Next week an interesting test for markets as we are set for a US holiday just after the latest PCE inflation data and FOMC minutes next Wednesday. FX Trading focus: Risk off patterns across FX as USD and now JPY trade firmer In this morning’s Saxo Market Call podcast, we looked at evidence suggesting risk conditions are worsening, particularly highlighting the Global Risk indicator, which has slipped into negative. This is an indicator I mostly use to assess the conditions for emerging market currencies, and given their recent woes (very importantly ex-CNH, which is heavily managed, to say the least) the indicator fits with the market action. The sharply stronger JPY today suggests that FX traders may be waking up to this kind of market input as well. US longer treasury yields are a very important factor for JPY direction, but so are credit conditions and carry-trade related currency weakness or strength for the bond-focused Japanese investments, particularly in EM in the most recent cycle, due to the lack of carry within G10. EM credit spreads have widened modestly since bottoming out early in the summer, but the recent strong USD has administered quite a beating to many EM exchange rates, and this week’s Turkish lira devaluation (more below) has added to that story and I wonder if there is a bit of linkage from that into the stronger JPY this week after a brief stab at 115.00 in USDJPY on Tuesday. The NOKJPY chart below shows the no mercy squeeze that some consensus trades linked to commodities and relative central bank outlooks have suffered over the last month, but also the degree to which the weak euro and concerns for the EU outlook are dragging down peripheral European currencies (from SEK and NOK to CEE currencies). FX volatility has undergone a significant breakout over the last week, and a spike in the JPY could add considerable energy to that development. Of course, the Swiss franc is not in that category with the other EU peripheral currencies and it is remarkable that EURCHF has sliced through 1.0500 this quickly. Recent weekly sight deposit data shows the SNB putting up a defense, but apparently unable to hold the line and EURCHF is trading to 6-year lows. Of course, adding specifically to the fresh Euro weakness this morning, we have Austria announcing a Covid lockdown and Germany’s health minister saying that it can’t rule out lockdowns for Germany. Later today, watch out for BoE Chief Economic Pill out speaking, with an intriguing topic in Fed Vice Chair Clarida’s speech later today (“Global monetary policy coordination”). Chart: NOKJPY The NOKJPY captures the whiplash inducing shifts on a number of fronts over the last month, as mentioned above, as over-ebullient NOK longs have been squeezed by crude oil shifting into a range-bound price action (and now under significant pressure today on European Covid lockdown news) and the very weak euro taking down pro-cyclical currencies at its periphery. There have been a number of major weak NOK episodes in Q4. The reversal here is taking on such a scale that it looks very significant and becomes a game changer if we get a reversal all the way back to the 12.00 area, hence reversing the entire recent rally wave. Other JPY crosses are threatening major breakdowns as well. Brainard or Powell? Get it over with already, redux. I am tired of pondering how the market will react to the announcement of whether Biden will give Powell the nod for a second term or nominate Brainard. Supposedly the market is about two-to-one in favor of Powell getting a second term, and we are leaning for higher odds of Brainard. The fact that Democratic Senator is meeting with both Brainard and Powell suggests that the nomination is a part of the horse-trading in whether the $1.7 trillion US social- and climate spending bill will pass. A vote for that bill is up in the House today. Turkish lira spinning into the abyss after latest cut – the lira tried a bit of a comeback this morning, but is trading as of this writing back close to the record lows posted yesterday, likely on the wave of risk-off in the wake of the Covid lockdown news in Europe this morning. Yesterday’s fresh slide was triggered by the Turkish central bank cutting rates for the third time, this time by 100 basis points to take the rate to 15%. The bank offered guidance suggesting that the rate cutting cycle will conclude in December, but the market entirely lacks trust in the signaling and interference from Turkish president Erdogan, and the backdrop, as noted above, is not at all supportive for EM currencies. The lira is down some 35% against the US dollar from the March move by Erdogan to replace the central bank governor with the current Kavcioglu. Disclaimer The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.
by Saxo
NOK - HOW TO PREVENT FOMO TRADING 1. Ask yourself why you want to invest, is it out of jealousy from others cashing in big? Do you want to be apart of the next big hype stock? If you answer yes to either of these do not trade, trading from this emotional perspective will only result in you losing money. 2. Warren Buffet said ''be greedy when others are fearful and fearful when others are greedy'' apply this logic to your decisions, chances are if the stock has pumped tenfold already and people are still greedy this could be an indicator you shouldn't trade - there are always more opportunities. 3. Ask yourself ''am I a sheep?'' Sheep do not make money in the stock market, do not blindly follow peoples ideas, question them and formulate your own understanding. 4. Where did you see the stock? if it was on the news the ship has sailed and you shouldn't buy it, at this point it is already too late. 5. Be careful of stocks that appear to be pushed by the same groups of people - this indicates little to no adoption and they are hoping that you buy their bags from them. 6. If you can't explain what the company does and why it's a good idea do not buy it. Always do your research first, learn about the team, the product, the vision and financials before investing. 7. If the market is mostly green its time to sell, if the market is mostly red, its time to buy. 8. Is it a meme stock? if yes either be an early adopter or do not buy it. 9. Have you got spare capital? always take into account your financial situation and be prepared to lose - never invest more you are willing to lose. 10. Learn to take losses - otherwise, you will end up holding your bag down a -80% drop. Hope this was useful ''Buy Big Sell BIGGER'' - MegaWhale
NYSE:NOK
by MegaWhale
6
NOKIA $NOK still got some fight leftOn the one hour chart, there are a lot of indications we could see a bounce up here back to around the $5 range - not sure if the price will continue after that, be sure to use a tight stop loss as these hype stocks have shown large amounts of volatility and can drop like a falling knife very fast NOK is showing bearish signs on the one hour time chart - expecting a pullback to lower support - alot of people are definitely bullish on this stock and it will be very interesting to see how it plays out long term but the whole market has had an impressive week and it is hard to tell whether the market manipulation is suppressing the price or wether the hype has, in fact, died down - no matter be safe and remember...... ''Buy Big Sell BIGGER'' - MegaWhale (;
OMXHEX:NOKIA
by MegaWhale
7
USD/NOK: PRICE ACTION + BEARISH HARMONIC GARTLEY 🔔Welcome back Traders, Investors and Community! Analysis of #USDNOK If you have found this useful then help us support my page by hitting the LIKE button. If you are not subscribed yet then please feel free to follow my page for daily updates and ideas. Thank you It means a lot to us! *** Strategy: Bearish Gartley on H4 timeframe - We will be waiting for all the confirmations to enter in this trade. A clear chart is Always the best business card for a trader. *** Your support and feedback will always welcome Thank you for your time. The information contained herein is not intended to be a source of advice or credit analysis Regards, Walter
Short
by FOREXN1
8
Nokia NOK first-ever trial run of 4G & 5G fixed wireless accessNokia Corporation NOK recently announced that it has teamed up with Mobily, a Saudi Arabia-based telco, in a concerted effort to conduct the first-ever trial run of 4G and 5G fixed wireless access (FWA) network slicing over the live commercial network of the latter. Notably, the Finnish telco is the first vendor to unveil this technology. As part of the collaboration, Mobily has capitalized on Nokia’s AirScale 4G/5G base stations along with its NetAct solution, which is a field proven network management system that supports network elements in Wi-Fi, telco cloud, public safety along with mobile radio and core. (Source: zacks.com) Please leave me a message if you want to test the buy and sell indicators that i am using.
NYSE:NOKLong
by BuySellMarketMaker
4