Are you trading NOK or OSEBX?BE aware for change in trend. EUR/NOK have good support at these levels. unexpected and noticeable weakning of NOK should lead to short -term correction.
NOKEUR trade ideas
EUR/´NOK (Euro / Norwegian Krone)-> Analysis of 20 Aug.
-> Good Morning Friends, here is my 4H-Chart idea to EUR/NOK . -> (all further information can be found in the chart)
-> Please note: These analyses are not intended as investment recommendations! The analyses presented by me are in no way to be understood as financial advice! Please also note that you are always responsible for your own investments when trading on the stock exchange! The analyses are only based on my opinion and view. Many thanks for your attention
EURNOK: Downtrend continuation- This pair has been in a long term downtrend
- With the Euros short term uptrend against other Pairs the Norwegian Krona kept the Euro under control and gave up minimal territory to the Euro
- This trade was on our watchlist after we saw Lower highs and a Bearish pin bar/inside bar combo
- We entered this short trade following the break of the candlestick formation and a break of the 200 day MA
- We will add to the trade should the pair close below the previous lows at 10.45 level
Long Trade - EURNOKEURNOK doing a triangle consolidation, waiting for the break and then the retest of the Daily support to go long.
The EUR/NOG exchange rate is having some difficultiesThe euro to Norwegian krone exchange rate is having some difficulties climbing up in the trading sessions. But luckily for bears, the odds are looking better for the Norwegian krone. Looking at it, the strength of the Norwegian krone is mainly driven by crude prices and it’s also affected by the single currency and the performance of other currencies in the region. As of writing, oil prices continue to hold on despite the heavy pour of bearish news. It was recently reported that the Organization of the Petroleum Exporting Countries finally relaxed its historic production cut and the markets are bracing for more. This comes as major economies continue to open their economy and ease their travel restrictions despite the still increasing number of COVID-19 cases around the world. Earlier this year, the group agreed to dramatically reduce their production to prevent oil prices from plummeting, this also helped the cause of the Norwegian krone.
EURNOK IS EXPECTED TO BREAKOUT SOONI will like to see bullish momentum on this pair so that we can join the move to the upside.It promise to be a nice trade.Thank you
EURNOK - Opportunities! Not my usual choice, but if there's a good clean set-up I will go ahead and analyse it further.
EUR/NOK - Will the bullish momentum continue?
Technical Aspect:
- Pattern wise - Looks like inverse head and shoulders.
- As long as its above that trend-line up the bulls are still in control
- This trade idea, could reach towards 161.8 areas
As the market moves in waves, nothing goes up in a straight line - Pull back is due EUR looking very over extended.
There's various options you could take:
- Do the pull back towards this trade
- Wait for the pull back and then advance towards next resistance areas.
Please keep in mind below that key trend-line up the bears are in control - only until then!
Remember: Just an idea, not a recommendation.
Have a great weekend ahead.
EURNOK look for a retracement? 🦐EURNOK has been moving inside a discending channel between the orange trendlines.
Lately the market has move inside a minor channel and currently is consolidating below a daily structure.
If the market will manage to break and close above the structure we can set a nice long order according with our strategy .
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Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
EURNOK Trading PlanPattern: Triangle on 1D.
Signal: (A) Bullish if the Resistance breaks, (B) Bearish if the Support breaks.
Target: (A) 11.800 (0.5 Fibonacci retracement level), (B) 10.000 (the Lower Support).
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EURNOK Long I am going long on EURNOK after seeing multiple 4 hour rejection candles form at a Daily support level. I will be targeting previous resistance.
