NOKUSD trade ideas
USDNOK Reverses off of 'Perfect' LevelUSDNOK reversed sharply last week from the line off of the 2016 and 2018 highs. This line was precise resistance AND support in 2019. The area around last week’s low has been a major horizontal level since 2016. I also like that the 200 week average is just under the low. General upside focus is 9.87-9.98. This is the former 4th wave high (5 waves down from the March high) and 38.2% retrace of the drop.
watch for possible short setup!When USDNOK breaks below the structure we can open a nice short setup to the -0.272 fib. level!
...on our watchlist for today!
USD NOK BUY (US DOLLAR - NORWEGIAN KRONE)Hi there. Price is forming a reversal pattern to change its direction. Wait for the price to complete the pattern and watch strong price action for buy.
Two scenarios on USDNOK by ThinkingAntsOkMain items we can see on the chart:
a) The major structure we can see is a Daily Ascending channel
b) Currently, the price is on the lower trendline of the channel + major support resistance zone / That provides us with a strong level
c) Now we have to pay attention either for a reversal movement or a continuation one
d) We have established those 2 zones one for the bullish and one for the bearish direction. The idea is not to trade directly but to wait for the adequate corrective structures
Short: USD/NOKFollowing the weak dollar, I have placed another short on USD/NOK
Doji's and hammers show uncertainty in the market
NOKUSDdont short one of the richest, happiest countries in the world pr capita with its oil fund owning 1% of all world stocks,properties and other investment sectors 10 179 billion NOK, and excessive natural resources in a small country with only 5million people, this is going be a squeeze to fill the empty gap, as other countries printing more and more money to help their people.
daily analysis of US DOLLARD/NORWEIGIAN KRONEHi friends
the daily chart of this market shows that it will experience a downward trend in the next few days but at the same time you must be vigilant of the change of this market towards the opposite direction
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#USDNOK - Next upmove could starts next #NorwegianKrone #NOKMaybe another downmove left but for the next 2 years I see an massive devaluation auf Norwegian Krone.
Norway’s soaring house prices and increasing flight demandsThe pair is expected to break down from a major support line, sending the pair lower towards its October 2018 low. Norway’s soaring house prices and increasing flight demands highlight that recovery of once the epicenter of the coronavirus pandemic, Europe. House prices between the months of June and July increased by 0.9% or 5.0% on a year-over-year basis. This was despite the fact that most European economies are still suffering from the recession. Analysts suggest that the optimism by consumers was brought by the increasing prices of crude oil in the global market. Norway’s major export product was oil and any surplus from its trade was being added to the country’s sovereign wealth fund. The increasing per capita liquidity in Norway is making the Norwegian krone a safe-haven currency investment among investors. Meanwhile, the US still relies on huge stimulus packages to keep its economy afloat at the expense of the US dollar.
USDNOK ShortLooking for a failed retest of the previous support, which has now becomed a resistance. TP is based on the 100% level of fibo extension.
