Weekly Falling Wedge Breakout may lead to a Trend Reversal We have triple MACD Bullish Divergence on the weekly and a breakout of a falling wedge. We will likely breakout and retrace back up near the 50 percent retracement area at around 10 dollars.
USDNOK trade ideas
Possible Triple Bottom and Bullish DivergenceNOKUSD was in a multi-year uptrend before COVID disrupted things.
We have now regressed far below where we were previously, and there is reason to think that a turnaround may be in store. At minimum, we are likely to catch a small bounce here.
1. Bullish divergence on volume-based indicators. With each of these three tests of 8.20, the OBV and Chaikin Money Flow have trended higher. This suggests that at least a small bounce is likely.
2. Longer term: NOK was in an uptrend prior to COVID, and this trend existed since 2011.
3. 2011 actually marked the end of a multi-decade downtrend, which was briefly disrupted by the 2008 recession, after which the prior trend resumed. Might the same thing happen this time, but in reverse?
4. The S&P 500 is starting to look overextended in an historically bearish seasonal period. A selloff would likely send the dollar higher against everything.
5. Lastly, and this probably isn't a good basis for a trade by itself, which is why I put it last, but you may have history on your side in this trade: “An analysis of the time-trend of U.S. dollar values over the course of a presidential term indicates that the U.S. dollar tends to start at a high value for Republican presidents and then depreciates, while the opposite pattern is true for Democrats.” walton.uark.edu
HOW TO TRADE LIKE THEM Monthly abcd daily inverted hs. I’m going long on the pullback and hopefully a nice ride up north 😎
Gl ✌🏾
Elliott Wave View: USDNOK Rally Should Find SellersShort Term Elliott Wave structure for USDNOK suggests the decline from March 24, 2021 high is unfolding as a 5 waves impulse Elliott Wave structure. Down from March 24 high, wave (1) ended at 8.149 and bounce in wave (2) ended at 8.369. The 45 minutes chart below shows the wave (2) bounce and pair resumes lower from there in wave (3). Pair still needs to break below April 29 low at 8.144 to rule out a double correction in wave (2).
Down from wave (2), wave ((i)) ended at 8.291 and bounce in wave ((ii)) ended at 8.3144. Pair resumed lower in wave ((iii)) towards 8.195, wave ((iv)) ended at 8.221 and wave ((v)) ended at 8.186. This also completed wave 1 of (3) in higher degree. Bounce in wave 2 is now in progress to correct cycle from May 6, 2021 high (8.369) as a zigzag Elliott Wave structure before pair resumes lower.
Potential target higher in wave ((c)) of 2 is 100% - 123.6% Fibonacci extension of wave ((a)) which comes at 8.32 - 8.342 area where sellers should appear for further downside or 3 waves pullback at least.
USDNOK BUY Hi All,
Looking at this pair we have an impulse wave 2 up from the descending impulse and also we are inside a downtrend diagonal which signals a trend reversal from bearish to bullish. This is not a short term trade, so you will have to be patient and stick to the sl marked, once price move 50pips into our direction you can move SL to entry or above.
Entry and SL marked.
USDNOK -ForecastUSDNOK H2- Up
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Khiwe
At this profile page, the shared analysis, ideas and also, the strategy of a chart belong to Khiwe with some being influenced. The technical set-ups are speculative, they are not guaranteed for accuracy or in completeness in the form of any content; -it is not to advice on financial markets. Please apply your own analysis and confirm it with price action.
USDNOK Short Oil is bullish and the USD is week from all the printing and bad Non-fram payroll report. NOK is going strong next week?
End of USDNOK decline ??Hello
I hope you are well
This analysis is done on a daily basis and has long-term goals.
As you can see, Sharp has a rising price, but in the face of a gradual and slow decline. It is a downward trend. Finding a suitable point seems to allow us to make a good profit from the market. If buyers can break the trend line and the price of 8.38722 with strength, you can be a buyer every time you return to the broken trend line and the mentioned price. But from here, the chart can move to the price of 7.9619, the support zone of which is clear in the analysis, and then climb up. In any case, we are waiting for Kendall's approval. But on Friday, the interesting Kendall finished his work !!!!!
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Buy dollar mid summerIt will most likely bottom out mid summer at 7.7 NOK and reverse to the upside. I don't realistically see more downside than that. So, if you live in Norway it should be cheapest to buy gold mid summer. When crypto starts to bleed we will have more capital going into gold. Gold is kinda boring to buy because of the slow moves it makes but I think that is why it will rise soon. 3000 dollar Gold before 2025 is my bet. Wait for weekly RSI at 30 and then sell NOK and trade it towards Gold or USD
NOK/USD Norwegian KroneNOK/USD has broken out of an Inverse Head and Shoulders Pattern and is now consolidating above the 200 EMA, a break out of this rectangle will signal more upside.
UsdNokWe were short on this, then they turned the tables.
This could be the beginning of a new trend.
The correction looks complete and ready for the next up-move wave.
Trade with care use a stop loss.
USDNOK: Trapped In a Falling Wedge. No need for explanation! Expect a rejection at the nearest support and a bounce to the next target.. Wait for a confirmation before trading!
@FXCM @OANDA #Forextraing
A TREND CHANGE IS HAPPENING HERE-13 APRILDear traders, similar to what is happening in usdzar, the same scenario on is on the cards for usdnok. The price is well supported above 8.3000 and this forces the pair to rise above 9.0000 in near term. Let's wait and see!
USDNOK On the rise...Hello my Follower,
Here i have USDNOK in a descending channel making a move upwards...
it has broken the trendline within a structure and made a 50% correction and now it's heading for a 50% fibonacci zone of the descending channel...so basically, i am trading a correction pattern of the previous bearish structure...
I thank you
BULLISH MOMENTUMHELLO TRADER'S THIS IS MY BULLISH TREND ANALYZE . WAIT FOR COME KEY LEVEL AFTER TREND CONTINUE TO UPTREND YOU CAN ENTRY .THIS IS MY OPINION ONLY NO MORE SIGNAL .
