Get started

USD/NOK

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Economic Calendar

USDNOK trade ideas

USDNOK Elliot Wave 4 Hour ChartUSDNOK has a trading opportunity to the upside. In line with the USD index being bullish, there's high potential for the pair to follow suit. It suggests the formation of a regular flat, and the C wave is about to start. The smaller regular flat outside the channel has reached equal legs (100% fib extension) and might turn upside any where within the box. I'll check for trading opportunities there, but right now there is no clear indication of the a trade to the upside. It might tag the lower side of the box and then have an aggressive push to the upside.
Long
by SlowMobius12
USDNOKTechnical Analysis: Potential Double Bottom located. RSI oversold on 4 hour. Mac D oversold as well. Although we have a strong bullish candle, momentum color change hasn't kicked in yet on Mac D. Only looking for a retracement. Not a home run. I would like to see price reach 61.80% of the previous high. Let's see what happens! Fundamental Analysis: Business Confidence has dropped in the most recent report from Norway. Business Confidence has risen in the most recent report from USA. Norway's' inflation rate has increased more than the USA has in the most recent report. Norway has a higher GDP growth rate. However, USA has the higher GDP overall. Norway Inflation rate is higher than USA. Norway government debt has increased more than the USA compared to the most recent report. Norway Retail Sales YoY has decreased while sales in the USA have increased. Norway Housing Index has decreased while the index has increased in the USA. Not Advice. There is a chance that this trade may go wrong. That's just how it goes. The main goal is to continue practicing to get better! Let's keep working!
Long
by Redimere_91
USDNOK will hit psychological as Oil approaches supportUSDNOK is strongly anti-correlated to the prices of oil. Although the US imports most of its oil from Canada, some of the oil producers there are owned by a Norwegian company. Then, the prices are moving globally with oil being one of the most traded commodities. Last time they USDNOK and USOIL both hit a psychological resistance, both reversed at the same time. USDNOK has fallen sharply from 9.0 level as oil has risen from a 65 level. Later on, the oil went for 200 EMA and USDNOK returned to 9.0 and bounced again. I don't see any fundamental basis for cheaper oil. Even if there are lockdowns, they will be fairly limited and then, the demand is bound to stay high. Even more so with Europe concerned about winter and Japan starting to use its reserves soon. So I find it very likely that Oil might stop and reverse at 75 or 70 level where the price meets 200 EMA, also. Of course, at that time, USDNOK will be around the level of 9.0 and that's when Norwegian Krona started to gain strength against US Dollar. When the price action on both pairs supports the idea, I will be shorting.
by OrcChieftain