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USDNOK

(4h, USDNOK){4H, $USDNOK} the general price movements is in an Ascending-triangle-pattern after price confirm the Support/Resistance-levels {Previous Price Action} last movements shown that the price break under the Support-level of the Mini-ascending-channel and made the first Lower-low after breaking the double-tops neckline while there's no signals of potential reversal. {Current State} price still undervalue while it's moving under the support-level of the Support-level of the channel and the high-selling pressure in the volume tells that there's possibility of more down movements that's why on the chart I chose to select the Lowest-point price reached with the highest point as "Invalid-rectangle-pattern" as long as the price hasn't confirm the lowest-point we can't confirm the pattern yet. {The Plan} we should first wait for the price to confirm the pattern then we can start looking for opportunity of potential breakout in order to go long and trade following the general price direction. {Valid Pattern} none. (Rectangle-pattern not confirmed yet) {Alerts} none. (no alerts until the pattern confirmed) {HQ Chart} i.ibb.co {Original post} stocktwits.com Follow me at stocktwits.com for more: @itsFiras
Short
by FirasMohamed
USDNOK - Bullish extensionUSDNOK (4H) - short term bullish bias The US dollar achieved a new high after breaking above the major resistance level of 9.16. It seems that buyers have not jumped ship but are still committed to the rally. We can expect the price to continue its way up as long as the trend line keeps buying interests intact. The RSI has yet to show an over-bought situation, and a few hours of consolidation are likely before another bullish momentum. Key support: 9.1100 Key resistance: 9.2000
Long
by INFINOX_Capital
USDNOK - Bull trend coming to an end! Prepare for BIG sell off !We have been in a bull trend since June '19 and it's now making an Ending Diagonal, that as the name suggests, appears at the end of a trend. A potential termination point is the Fib cluster zone marked by the yellow box but it can also come to an end even at current level! A good sign of a sustained reversal will be if price breaks below the wave (2) and (4) trend line and then the dotten line from wave (2). A first target can be 9.00 followed next by previous wave support level at 8.875. If on the other hand price goes above 9.2590 , the E.D pattern gets negated because wave (3) would then be the shortest of 1,3 and 5.
Short
by ElliottWaveBelgium