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Swiss Franc / Norwegian Krone

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CHFNOK trade ideas

Looking for a short entry on CHFNOKCHFNOK is in a run up on the daily period. By taking a Fib from the major impulse high - to - low, we can see that we're nearing two fib levels, the 1.414 and the 1.618- I'm going to look for a short entry around these levels, targeting a test of the most recent level gained, indicated by the "level gained" text. Price blasted the level and I'm confident we'll see a test - I don't know whether the level will hold or not. The play is a short, the question is the best entry. By using the fibs, we get a better idea.
Short
by gottimhimmel158
CHFNOKThere might be a short uptrend to about 9.16429 area before the downtrend starts. SWITZERLAND 5 August The State Secretariat for Economic Affairs (SECO) Consumer Climate Index measures the level of consumer confidence in economic activity. On the index, a level above zero indicates optimism; below indicates pessimism. On 5 August this index is forecasted to drop from -6 to -8 or -10. Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity. A higher than expected reading should be taken as positive/bullish for the CHF, while a lower than expected reading should be taken as negative/bearish for the CHF. The forecast is -0.6% to -0.5% from a previous -1.7%. The Swiss economy is likely to slow in 2019, with gross domestic product growth expected to hit 1.1%, followed by a “moderate” recovery in 2020, the International Monetary Fund said on Monday, Apr 1, 2019. Facts about Switzerland: Switzerland has the second highest gross domestic product (GDP) per capita in the world. At the end of 2015 Swiss GDP per capita stood at CHF 77,943 (approx. EUR 73,000 or USD 81,000). About 74% of Swiss GDP is generated by the service sector and 25% by industry. The contribution from the agricultural sector is less than 1%. The European Union (EU) is Switzerland's main trading partner. Around 78% of Swiss imports are from the EU, while 43% of Swiss exports are destined for EU countries. Most Swiss firms (over 99%) are small- and medium-sized enterprises (SMEs). These are defined as companies with fewer than 250 employees. The public debt-to-GDP ratio in Switzerland has fallen considerably in recent years, from 54.6% in 1998 to 34.7% in 2014. Switzerland has the lowest rate of value-added tax in Europe. 8% is levied on most goods and services, 3.8% on accommodation services, and 2.5% on basic necessities and other everyday items. Every year Switzerland spends close to 3% of its GDP, more than CHF 18.5 billion (around EUR 15 billion or USD 20.6 billion), on research and development . Over three-quarters of this funding comes from the private sector. The currency of Switzerland is the Swiss franc. One Swiss franc is equal to 100 centimes. It is abbreviated to CHF, SFr. or Fr. STRENGTHS Political, economic and social stability and consensus; role of direct democracy Close relations with the EU Limited sensitivity of exports to foreign exchange due to focus on high technology and quality Public accounts in surplus and large external asset position European crossroads with excellent communication network WEAKNESSES Small, open and landlocked economy Overvalued Swiss franc used as a safe haven Highly dependent on trading and financial services Elevated house prices Banks’ exposure to real estate (80% of loans), with two institutions accounting for half of domestic assets Population ageing offset by immigration (foreign labour makes up 30% of the workforce) Sweden is 53.3% cheaper than Switzerland IN TERMS OF COST OF LIVING. SWEDEN Sweden has achieved an enviable standard of living with its combination of free-market capitalism and extensive welfare benefits. Sweden remains outside the euro zone largely out of concern that joining the European Economic and Monetary Union would diminish the country’s sovereignty over its welfare system. Timber, hydropower, and iron ore constitute the resource base of an economy heavily oriented toward foreign trade.
Short
by varietyjones
SWISS FRANC / NORWEGIAN KRONE to SELLCHF/NOK is getting ready to go SHORT. Market has been in an uptrend for about 3weeks. A crucial resistance has been hit in its uprise. Market already dropped this week, however, a retest/double top is likely. Wait for confirmation of trend change, then find your entry. Expecting a change in trend within the next week. Scalp/day/swing trade market to the downside. You pick your exit point. DISCLAIMER; Trading carries risks, ideas are for guideline purposes only. Do set stop losses when trading & be generous with how much room allowed for candle wicks. There is also the possibility to hedge yourself, for more confident traders. All comments and questions welcome, if curious about indicators I use then feel free to inquire. How I plan to find my entry;
Short
by Dani0
CHFNOK: Buy on every dip for the next year.CHFNOK is trading on a 3 year long 1M Cup formation (RSI = 52.266, ADX = 24.446, Highs/Lows = 0.0000) with a clear Resistance Zone (8.7770 - 8.9615). Having entered the second half of the pattern, every pull back on 1W can be bought, targeting the Resistance Zone. If the formation turns out to be fairly symmetrical expect a final test of 8.1351 and Higher Lows after towards the completion of the pattern near the Resistance Zone in about 1 year. We are buying the dip. ** 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