EURNOK trade ideas
EURNOK longThe larger picture is obviously a more massive bearish movement, but over the next 2 to 3 weeks... a long setup is ok. Riding the retracement upwards in the interim as it is a significant move, and then inverting and getting into the short position once target reached.
EURNOK 4HR SHORT OPPORTUNITYTrade what we see:
Price is following a bearish channel with lower highs forming.
We have two support lines to work off, one formed on the 4hr chart and the second formed on the daily time frame.
A pin bar is forming now and I am waiting to setup this short position which has a great risk / reward ratio.
If this pair breaks out and we see a successful retest, then there will be a good long bias.
Weekly EURNOK - Potential Carry Trade IdeaEURNOK is setting up a low volatility breakout on the weekly chart.
This may be longer-term carry trading idea, but be sure to check
your rollover and spreads because it's an expensive pair to trade
and the volatility alone makes it troublesome.
38.2% Retracement LONG GWAVEGWAVE LONG, 38.2% Retracement .
FIB Retracement Percentage is calculated in Higher Dimension.
PLEASE WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
EUR/NOK 1H Chart: Long-term triangle dominatesThe EUR/NOK exchange rate has been constrained by a descending triangle which was formed in November, 2017. After testing the upper boundary of this long-term pattern early in May, the common European currency began depreciating against its Norwegian counterpart, thus reaching its bottom boundary at 9.47, likewise reinforced by the monthly S2, mid-yesterday.
It is likely that some downward pressure still prevails during the remaining part of this week, given that the pair might be pressured lower by the combined resistance of the 55-, 100– and 200-day SMAs near 9.60. However, the general price direction should nevertheless remain upwards in line with the prevailing triangle pattern, with its upper boundary being located at 9.65.
EURNOK - Daily - Wait for itTrade Alert
Wait for the break outside of the formation. It might take a while, so we could expect a stronger move on the way out.
This something for you to keep monitoring.
Don't forget your stops!
EurNOK will touch 9.75Hello everybody
I Think EurNok will touch 9.8
this analysis have good R/R
Follow me at Telegram @forexadvisers
EURNOK longClearly, it is forming a bullish ascending triangle, now we have retraced to the resistance line which means it will target the flat top.
this may be the last move inside the tringle before a breakout to our second target
EUR / NOK
BUY:9,634
TARGET 1 : 9,715
TARGET 2 : 9,924
EURNOK Buy IdeaEURNOK Buy Idea @Dialy Demand Zone (9.61862 - 9.58448)
Buy Limit: 9.61862
Stop Loss: 9.58209
Take Profit: 9.66174
EuroNOKkeep your eyes with the triangle; and if the price broke the triangle wait for correction to follow the trend
BUY EURNOKContinuation pattern for uptrend, Head and Shoulders formation, 50Days Ema signaling uptrend, good opportunity to buy.
EUR/NOK 1H Chart: Bounded in bearish patternsThe movement of EUR/NOK has been bounded in several patterns. Following a two-week period of appreciation, the pair bounced off the upper boundary of the senior channel and the 38.20% Fibonacci retracement at 9.70 and formed a new wave downwards. This movement has been relatively flat, as the Euro has since remained trading near the senior channel.
By mid-today, the pair was testing the combined support of the 55– and 100-hour SMAs and the 50.0% Fibo line at 9.61. The current positioning of the pair suggests that it should decline both in the short and medium term. The nearest target is the bottom boundary of the junior channel and the 61.8% Fibo at 9.52, while a downward-sloping trend-line circa 9.42 could be targeted within the following two weeks. The 9.60 area still needs to be breached to confirm this scenario.
Conversely, a breakout of the weekly PP and the 200-hour SMA at 9.63 is likely to result in a re-test of the senior channel circa 9.68.
EURNOK BREAKOUT PULLBACK LONGGoing long, .618 retracement on weekly, .618 retracement on daily, breakout pullback.
NOK'D DOWNCurrent levels of EUR/NOK could offer interesting selling opportunities.
NOK should outperform EUR in the coming weeks and months on the back of growing policy divergence between the Norges Bank’s policy outlook and the ECB’s, which is reflected in an increasingly negative 2Y EUR-NOK rate spread. The divergence could intensify as both banks start to cautiously normalise their policies. Investors may continue to see NOK as a higher beta proxy for the EUR, as NOK tends to outperform when the EUR is supported. EUR/NOK could see 9.40 by the middle of the year. However, depending on incoming data, an undershoot cannot be excluded.
Credit to Credit Agricole Investment Bank
EURNOK SHORTEURNOK, GBPNOK, EURSEK and GBPSEK... tend to move in the same direction (USDNOK and USDSEK can also be grouped in the same category), an analysis on each on where best to make the entry is necessary. But they are generally good movers and with high pip value. The spread can be high though and SL should be placed far much further out.
