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Norwegian Krone/US Dollar

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NOKUSD trade ideas

USDNOK - Going to fall Made a spike down but retraced it just as fast and is now going up, for the last time hopefully. Ideal retracement zone is the 61.8% level but we could see it turn a bit sooner, around 9.039. As you can see, the 38.2% retracement level has been hit, which is the minimum required. So, if we see price go down right away, the count still remains a valid one. If on the other hand we see a new high, we will need to get back to the drawing board.
Short
by ElliottWaveBelgium
USDNOK reversed from resistance, potential drop! USDNOK reversed off its resistance at 9.01000 where it could potentially drop further to 8.80785. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Short
by Pepperstone
Top and Bottom Analysis on USDNOK by ThinkingAntsOkUse this as a guide to develop your own setup Main items we see on the 4hs Chart: a)Price Surpass the Maximum Historical zone and the re-enter to the previous levels (bearish Signal) b)Currently, we can see a Consolidation Structure, this kind of structures can be considered as continuation patterns c)We can see an interesting downside potential towards the Daily Ascending Channel d)If you are planning on taking a trade on this setup, consider opening positions on the breakout of the Corrective Structure e)You can Break Even on the First Support Zone d)Consider the Daily ascending trendline as Target Weekly Vision: Daily Vision:
Short
by ThinkingAntsOk
USDNOK reversed from resistance, potential drop! USDNOK reversed off its resistance at 9.01000 where it could potentially drop further to 8.80785. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Short
by Pepperstone