USDNOK trade ideas
USDNOK-BUY strategy Daily The pair shows weaker motivation on the corrective move, and this is due to the NOKZAR causing more SELLERS on USDNOK. This may be lesser now, and should give room for a rise.
I would be careful in terms of entry level, but overall objective is 10.4600. The weekly chart is positive for USDNOK.
Strategy BUY @ 10.15-10.2300 and take profit @ 10.3700 for now. Stop-loss below 10.0250.
USDNOK-BUY strategy 4-hourlyt feels the pair has been behaving like a fixed exchange rate. we have range for many, many sessions, and this may discourage anyone for committing to a trend.
The cloud is supportive with support 10.0400 (base cloud) and 10.1390 above cloud.
The base- and conversion line are identical, and for the rest stochastic is NEGATIVE.
The daily chart shows we are positive for higher levels to be seen.
Strategy can be twofold:
1. BUY @ 10.1500 and place stop-loss @ 10.0250, and taker profit @ 10.3750
2. SELL @ 10.1900-10.2100 and place stop-loss @ 10.2350 and take profit @ 10.0575.
USDNOK-BUY strategy Daily chartSame issue as with the USDZAR pair. We have a wide range to trade within, but now we are positive stochastic and RSI and makes the case stronger for move to 10.3700.
Strategy BUY @ 10.05-10.15 and place stop-loss belo0w 9.9150. The profit order @ 10.3575 for now. Keep in mind we have strong resistance 10.2150 and need to be overcome. Overall, we will see north, is my personal view.
USDNOK: Confirmed Bullish Butterfly at Structural Demand LineUSDNOK is sitting at the Demand Line of an Overall Bearish Ascending Broadening Wedge Pattern that happens to align with the 1.272-1.618 PCZ of a Bullish Butterfly; along with that, we have PPO Confirmation, RSI BAMM, and a MACD Bullish Crossing. Given the scenario, I can see this trying to retrace up 50-88.6% of the Harmonic Range before coming back down and confirming a partial rise, after which we will then possibly have to look for opposing Bearish signals.
USDNOK-BUY strategy Daily chartThe pair has been trading within a well defined band, and has been under pressure or support from NOKZAR pair, which has been hammered down.
The stochastic is POS and so is the RSI.
Strategy BUY between 9.9700 - 10.0450 and stop-loss below 9.9150. The profit order I suggest 10.3800. Mind the resistance @ 10.2100, and perhaps we trade it when approaching.
USDNOK-BUY strategy Daily chartSlowly the case is building for a move upwards into the 10.3000-10.4500 case.
The reason being, we are supported by GANN support 9.9700 area (on a closing basis), and strong DC support near 9.8400. The stochastic is reluctantly POS and th RSI is not as yet.
Strategy is BUY @ 9.9800-10.0400 range and place a stop-loss below 9.8400. The profit objective @ 10.3700.
USDNOK-SELL strategy 4 HourlyThe channel broker, and also we moved from POS to NEG stochastic and a NEG RSI as well.
It feels we may test lower levels first, and likely we may see somewhere 9.8850 before we may see meaningful move back towards 10.1100 again.
Strategy SELL @ 9.9850 - 9.9950 and place stop-loss above 10.0650 and take profit @ 9.8875 for now.
USDNOK-Mixed strategyIt depends to the overall purpose. If we look at the 3-hourly chart, we have resistance 10.0940 area DC top, and support GANN 9.9700 roughly. So we would play between those bands short-term. If take the daily chart, we got DC support below 9.9200 and for the rest we are open until 10.2100.
Strategy 1 - SELL current @ 10.0750 and place stop-loss above 10.1025 profit @ 9.9850
Strategy 2 - BUY @ 10.0450-10.0700 and place stop-loss below 9.9200 and take profit @ 10.2075.
USDNOK-BUY strategy 4 HourlyThe pair has been quite under pressure, and p0erhaps for the wrong reasons.
Currently, we have managed to move beyond 9.9900 and this helps the pair to recover further.
The strategy is BUY @ 9.9950-10.0400 and take profit @ 10.1200 for now. Note that 2-hourly stochastic is reaching heights, and it means the move will not be a one-way bet.
Stop-loss can place below 9.9350 for now.
USDNOK-BUY strategy Daily chartThe pair as like all others hammered down due to CPI and PPI. Markets are always extending moves, and that creates challenges.
The stochastic as well RSI show that there will be a turnaround the corner. We have moved below the regression channel, which in most cases will realign. Yes, its tough, but with the right leverage we whether the storm nicely and add current levels to create benefit.
Strategy is ADD further between 9.9100-9.9500 again. Profit order for daily chart should be at least 10.3800 area or higher for now. Managed positions is always the key in such dramatic movements, that are overdone. Enjoy the ride.
buy limit ....I thing here we have constant higher high and higher lows... beside we have two support area (horizontal and diagonal)...
Also it is MTR .
we can expect a rally up to next resistance level.
As there are lots of SLs below the previous LL , it may attract brokers to hit the stops so the SL should be well bellow the previous LL...
USDNOK-BUY strategy 2-hourlyThe chart clearly identifies falls bear flag, and as mentioned before, most have the same pattern, either bear or bull depending to the currency type.
This one, has significant lower RSI and we seem to have minor confirmations in terms of candle stick undecided patterns, like doji's or doji cross.
The resistance is @ 10.1150 area and we should move back to the pole which can be either somewhere 10.21 or higher 10.31.
USDNOK-BUY strategy Dailyjust an extra chart to add to the analysis. This is for most pairs the same.
We re trading within a wide range for the pair and we are at the base of the channel now. In essence, it will be difficult for the pair to trade below the base, and usually it returns within.
The objective would be mid-range and we may see a corrective action back to 10.4900 again.
USDNOK-BUY strategy Daily chartIt also has been a painful managed ride. The issue here, firm CPI and weaker US CPI etc. The ride down from above 10.80s and to the pre-CPI US numbers, was already a rich experience, and after we saw lows of 10.0950 area.
The shorter time frames are heavily oversold and the 2-hourly has turn signals and we may see corrective action soon, is my personal view. Being LONG at earlier levels and managed, means we add at the lower levels with low leverage of course, or place proper stops is another protective way no doubt.
Strategy BUY current @ 10.1000-10.1300 and take profit @ 10.2700-10.3000 for now. However, the correction could bringn us near 10.4500 overall, are my thoughts.
USDNOK-BUY strategy Both the daily chart and the 4-hourly chart suggest that we are oversold and in danger of a sharp correction. Yes, oil is firm and that underpins the pair. However, moves are overdone and we should see corrective action.
Strategy BUY current @ 10.31-10.33 for a profit move to 10.4750 for now.
USDNOK Sell Opportunity: Anticipating Downside PotentialPair: USDNOK
Entry: 10.46195
Stop Loss: 10.67581 (above fair value gap)
Take Profit: 9.69620
Risk-to-Reward: 3.63
Strategy: Selling USDNOK as a short opportunity.
Explanation:
The decision to sell USDNOK is based on the anticipation of a potential decline in the exchange rate. Here are a few reasons why this is considered a short opportunity:
Fair Value Gap: Placing the stop loss just above the fair value gap suggests that the price is near a level that is considered fair based on market analysis. This indicates a potential resistance area where sellers could take control.
Technical Analysis: Additional technical analysis might indicate bearish signals, such as a breakdown of key support levels, bearish chart patterns, or negative momentum indicators. Traders may use these technical factors to support their short position.
Fundamental Factors: Fundamental factors specific to the USDNOK pair, such as economic data, geopolitical events, or monetary policy decisions, might suggest a negative outlook for the US Dollar and/or a positive outlook for the Norwegian Krone. These factors could influence market sentiment and potentially drive the exchange rate lower.
Risk-to-Reward Ratio: The risk-to-reward ratio of 3.63 suggests that the potential reward outweighs the potential risk. This means that the potential profit from the trade is 3.63 times the potential loss. Traders often look for opportunities with favorable risk-to-reward ratios to ensure that potential profits justify the risk involved.
Remember, it is essential to conduct thorough analysis and consider multiple factors before entering a trade. This explanation provides a general overview but should not be considered as financial advice.
USDNOK long after false breakoutPrice broke the previous price structure located at 10,807 and making HH and HL. I will trade the retest of broken resistance, which will act as support. If you want to trade this idea, wait for false breakout and monitor the retest on lower time frames like 15M-30M or 1H. DO NOT ENTER earlier. If you don´t know what is false breakout, study. It doesn´t make any sense to enter earlier (because of the better price), you would just loose money. Green lines are TP, but also strong pullback areas, TP your trade partially. Wish you good luck.
I´m not a signal service, don´t have 10K followers, do not selling anything. If you want to buy something, contact some signal service which will comment this idea. I share my own traded ideas. Check my previous ideas to know, what(and with who) you will trade.
NOKUSDWe see that price has potentially formed an inverted head and shoulder pattern , with price now approaching the neckline of the pattern we could potentially see a break and retest of the neckline for the chance to go long .From the fundamentals ,NORWAY CENTRAL BANK has decided as of 22/6/2023 to raise interest rates 3.75% beating the markets expectations of 3.5% hence further confluence for the pair