NOKSEK LongNOKSEK is now net long on the regression break
I am looking over my EA options this pair.
NOKSEK trade ideas
NOKSEK at Key Demand Zone - Potential Buy Setup FOREXCOM:NOKSEK reached a significant demand zone marked by prior price reactions. This area aligns with a key support level, where buyers may step in to push prices higher. The current market structure suggests the potential for a bullish reaction. If the price action shows clear bullish confirmation, such as strong rejection candles or bullish engulfing patterns, I anticipate a move upward toward the 0.97770 level.
Let me know if you agree with this analysis or have additional insights! Feel free to share your thoughts in the comments.
NOK/SEK Trading SignalDirection: Sell
Enter Price: 0.96402
Take Profit: 0.9614
Stop Loss: 0.96821
Analysis & Justification:
This forecast is made using the EASY Quantum Ai strategy, which combines technical indicators and advanced algorithms for predicting market trends. The analysis suggests that the NOK/SEK pair is showing a bearish pattern, indicating a potential downward movement.
Key factors influencing this decision include:
1. Technical Indicators: Various indicators like RSI, MACD, and moving averages show bearish signals, suggesting that the bearish momentum is strengthening.
2. Fundamental Analysis: Recent economic reports have shown weaker economic performance in Norway compared to Sweden, creating a downward pressure on NOK relative to SEK.
3. Market Sentiment: Sentiment analysis from financial news and social media indicates a growing bearish outlook among traders for NOK/SEK.
Given these factors, the recommended trade setup is a sell at 0.96402, with a target (Take Profit) of 0.9614 and a Stop Loss at 0.96821 to manage risk effectively.
Always ensure to conduct your own due diligence before entering a trade. Happy Trading!
Supper/Resistance flip on NOK/SEKVery strong strong support with 4 previous rejections was broken.
Market was comfortable standing on top of that support for sometimes and it's finally broken through.
There was a retest in an attempt to come back up, but it was rejected.
Waited for my time filter.
Bearish pattern formed on the resistance.
My SL well above the resistance.
My TP at the trough.
Battle of the Vikings - Ragnar vs EarlIn the duel of the Nordic nations between the strong Norwegian Ragnar (NOK) and the fierce Swedish Earl (SEK), only one can survive.
I am betting my gold coins on the Norwegian krone for the following reasons:
- NOKSEK is fundamentally undervalued
-> fundamentally the pair should rather be trading at 1.04 - 1.05
- Norges Bank surprised EVERYONE (including me) with an interest rate hike last week
-> inflation is still giving it a hard time
- Oil saw some strength again recently
- NOKSEK with a seasonally strong phase in January and February
- Norges Bank could reduce its NOK sales in the new year
- Rebalancing flows
From a Swedish perspective:
- The unemployment rate has recently been higher than expected (looting Vikings are currently less in demand)
- Swedish inflation rate fell more than expected (due to house prices (no, not Viking huts))
- Riksbank sold more FX reserves than expected within its hedging programme
-> less powder available
NOKSEK - Consolidation after a BreakoutNOKSEK is exhibiting consolidation with a bullish bias.
It is hitting resistance levels and if it succeeds in penetrating could be the start of a Bullish Reversal.
Long NOKSEK consolidation on lower 0.95sLong NOKSEK 0.9570 stops 0.9470 for 1.0070 TP seeing consolidation around 0.95s forming as a base. not sure I m right ?
NOKSEK - Reversal after ConsolidationSigns of Bullish momentum after a post-move consolidation.
Opportunity for early entry into a Bullish Reversal but respect the stop-loss which indicates a continuation of the downtrend
NOKSEK IS TRADING RANGE NOKSEK Pair is trading in range once it breaks giving good entry in both ways
NOKSEK SHORTBoth currencies are exposed to risk aversion but we look for SEK to outperform. NOK was unable to capitalize on a hawkish Norges Bank outcome but SEK might gain if Riksbank delivers another hawkish surprise.
SELLOverall Average Signal from all our indicators suggests a Short. Entry is at market open and exit is shortly before market close or whenever you are okay with profits. You should be careful with this one.
Thoughts and observations on NOKSEKShort term count - just a thought, waiting for confirmation from price action (bullish scenario).
Wave 4 would mean 38% fib retracement from Wave 3
NOKSEK Trade Idea Monetary policy divergence and oil price is driving this cross. Watch to find out more.
W7-9 _ Short Term Bullish Idea _ NOKSEK H1After creating a series of LHs and LLs the price action seems to be retracing.
With the formation of two strong bullish candles enter a BUY, Targeting 38% FR and protecting the last LL.
NOKSEKThe pattern seems to be bearish but it could be temporary since the long term pattern is bullish
NORSEK setting up for a pullbackNORSEK is slowing down. I don’t think it will go all the way down to trend line but somewhere between 50 and 200 EMA.
Divergence is forming on daily chart. Looks like MACD bearish cross over is about to happen.
NOKSEK Horizontal Support LevelsNOKSEK
Trend: Up
Level: Horizontal Support Level, EMA 10 Support Level, EMA 20 Support Level, Fibonacci Retracement Support Level
Signal: Rejection Candlestick
