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Eurnokanalysis

I get NOKed down.. but I get up again...You're never gonna keep me down, I get NOKed down, but I get up again, You're never gonna keep me down! Now that you all hopefully have the song stuck as much into your head as I have ;) we can go straight to the facts: It is true that over the past two years, the Norwegian krone has all too often been one of the big losers in the FX market. Not only has it embarrassingly been constantly beaten up against the EUR and traded at an all-time low, but it has even brought up the rear of ALL G10 currencies since November 2022. This was hardly surprising as almost all fundamental factors spoke against the NOK. However, the tide will turn dramatically in 2024, especially in the EURNOK: NOK positive: ➡️ Energy prices appear to have bottomed out and could rise again. ➡️ The oil price appears to be stabilising at the USD 60-70 mark and could rise if necessary in the event of a soft landing ➡️ January and February are seasonally positive for the NOK ➡️ Norges Bank surprised EVERYONE in December by raising interest rates again ➡️ Norges Bank enters 2024 as one of the hawkishest of the G10 central banks ➡️ A further rate hike by Norges Bank in early 2024 cannot be ruled out ➡️ It would raise interest rates while virtually all other central banks would be in rate-cutting mode ➡️ Norges Bank will drastically reduce its NOK purchases from January (as previously announced by me in the NOKSEK Tradeidee) , see here: My CHFNOK Short should also be a sure winner in 2024:
Short
by PrimeTrading
Technical Analysis: #EURNOK Sideways Trading Strategy!📈 Technical Analysis: #EURNOK Sideways Trading Strategy! 📉 Hey traders! 🌟 Today, I present to you a fascinating opportunity in the EUR/NOK forex currency pair. The 1-hour chart suggests that the pair is currently moving sideways, lacking a clear bullish or bearish trend. But fear not, as we can capitalize on this situation by employing two smart trade plans with buy and sell stop orders, targeting key support and resistance levels. Let's dive into the details: Trade Plan 1: #SellStop 🛒 🎯 Entry (Below S2): 11.10542 🛑 SL (Above S1): 11.0691 🎯 TP (1:1): 11.0691 Trade Plan 2: #BuyStop 🛒 🎯 Entry (At R2): 11.24950 🛑 SL (Below R1): 11.20195 🎯 TP (1:1): 11.2970 The logic behind these trades is simple. For Trade Plan 1, we expect the pair to break below the S2 support level, triggering a potential bearish movement. The Stop Loss (SL) is set above S1 to manage risk, and the Take Profit (TP) level is placed at the same distance as the SL, aiming for a 1:1 risk-reward ratio. On the other hand, for Trade Plan 2, we anticipate a bullish move if the pair breaches the R2 resistance level. The SL is placed below R1 to protect our investment, and the TP is set at the same distance as the SL, ensuring a 1:1 risk-reward ratio. ⚠️ Investment Advice: Remember, trading involves risk, and it's crucial to manage your positions carefully. Always use appropriate risk management techniques, such as position sizing and setting stop-loss levels, to safeguard your capital. Consider using these trade plans as a part of a diversified trading strategy and avoid risking more than you can afford to lose. Trade with discipline and patience, and never let emotions dictate your decisions. Stay updated with the market developments and adjust your trades accordingly. Good luck on your trading journey! 🍀💹 (Note: This analysis is for educational purposes only and not financial advice. Make sure to do your own research before making any investment decisions.) #Forex #TradingOpportunity #SidewaysMarket #TechnicalAnalysis #RiskManagement #TradingStrategies
by T-Q
2
Short EURNOK - the vikings will win!First things first: all hail valhalla! Why I like this trade: - NOK with the MUCH better fundamentals - NOK clearly undervalued on a longterm timeframe - Norges Bank quite dovish in their last meeting but could get hawkish again in march as -> inflation has massively surprised to the upside - inflation expectations on thursday will be key for NB - NB could reduce NOK selling - oil and nat gas with upward potential - EUR optimism is overpriced
Short
by PrimeTrading
EURNOK LONG - Buy Entry - H4 ChartEURNOK LONG - Buy Entry - H4 Chart Buy @ Market Symbol: EURNOK Timeframe: H4 Type: BUY Entry Price: Buy @ Market Pivot Point Yearly @ 10.11400 Resistance @ 10.03155 Resistance @ 9.82763 Support @ 9.62460 Support @ 9.47920 ✅ If you liked this analysis, please consider Following and giving it a Thumbs Up 👍 ✅ If you have any feedback or questions, please leave a comment below as I answer each comment 💬 ✅ Wishing you enjoyable successful trading 🙏
ELong
by UnknownUnicorn35780991
EURNOK ANALYSIS AND TRADE IDEA - MONTHLY AND WEEKLY ICIHello everyone, if you like the idea, do not forget to support with a LIKE and FOLLOW for more creation of free analysis. \m/ On the Monthly & Weekly we have an ICI strategy forming, we already have an impulse and a correction we are waiting for the retracement to touch the 0.382 of the fibonacci taken on the impulse of the Monthly and Weekly. Entry is at the 4H time frame on the 0.382 and take profit at the -0.272 of the impulse leg and stop loss is above the last high. Trade Signal SELL Entry: 10.05767 Take Profit: 9.37643 Stop Loss: 10.18033 SELL Entry: 10.03073 Take Profit: 9.39421 Stop Loss: 10.18033 Good luck! Trade wisely, please do proper money management. ~FX_SHIFTER
Short
by fx_shifter
1
Short Vision on EUR NOK for 20/08/2021Hello Dear Traders, You find below my analysis for EUR/NOK, the currency pair is in the sell zone. I expect the price to fall. According to my set of rules, in the M30 frame EUR/NOK will fall to 10.54 as I am showing in my chart. Our Daily Goal is 10.52. Currently, EUR/NOK is moving towards the resistance level 10.64,where there is some liquidity from this value we are looking for short-term selling opportunities of EUR/NOK. Good Luck and enjoy your Bearish Market for today. Entry:@10.64 TP1: @10.61 TP2: @10.58 TP3: @10.54 SL: @10.66 As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment. Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
Short
by HugoAJROUCHE
Short Vision on EUR NOK for 28/07/2021Hello Dear Traders, You find below my analysis for EUR/NOK, the currency pair is in the sell zone. I expect the price to fall. According to my set of rules, in the M30 frame EUR/NOK will fall to 10.46 as I am showing in my chart. Our Daily Goal is 10.445. Currently, EUR/NOK is moving towards the resistance level 10.506,where there is some liquidity from this value we are looking for short-term selling opportunities of EUR/NOK. Good Luck and enjoy your Bearish Market for today. Entry:@10.505 TP1: @10.485 TP2: @10.465 TP3: @10.445 SL: @10.55 As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment. Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
Short
by HugoAJROUCHE
Long Vision on EUR NOK for 03/08/2021Hello Dear Traders, You find below my analysis for EUR/NOK, the currency pair is in the buy zone. I expect the price to rise. According to my set of rules, in the M30 frame EUR/NOK will rise to 10.485 as I am showing in my chart. Our Daily Goal is 10.5. Currently, EUR/NOK is moving towards the support level of 10.44 where there is some liquidity, from this value we are looking for short-term buying opportunities of EUR/NOK. Good Luck and enjoy your Bullish Market for today. Entry:@10.415 TP1: @10.445 TP2: @10.465 TP3: @10.485 SL: @10.395 As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment. Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
Long
by HugoAJROUCHE
Short Vision on EUR NOKHello Dear Traders, You find below my analysis to Eur NOK. This pair is strictly correlated to oil prices and S&P 500. The future trends may mirror this pattern closely. The oil fund owns more than 1.5% of all the listed stocks worldwide, and its returns alone were worth a third of Norway’s GDP in 2020—even amidst the pandemic. According to my set of rules, In this set up, I am showing in my chart is a high probability setup. We have large bearish candles, meaning there is a lot of selling orders. so use proper risk management, I recommend 1%. Good Luck. Entry:at 10.37513 SL 10.4308 TP 10.22
Short
by HugoAJROUCHE
4
EURNOK suffers the worst sell-off in a few decadesEURNOK Forex cross pair (Euro versus Norwegian Krone) has broken all time high again after months. A previous monthly demand imbalance gained control last June 2018 and this cross pair has been rallying ever since. Why has Norway’s Krone suffered the worst drop in half a century? Well, by doing supply and demand analysis on the monthly timeframe we can see that EURNOK forex cross pair was in a clear uptrend on. There is no reason to go short, only longs are possible by following the big picture monthly uptrend. We can see in the attachment a very strong monthly impulse around 10.35 at (1) that could eventually become an imbalance if price continues like that. We don’t need to pay attention to Forex fundamental analysis if we are trading a supply and demand imbalances strategy and trading with the bigger picture trend. It’s taken for granted that if you trade the very small timeframes, fundamental analysis and news events will kick you out of the trade.
Long
by AlfonsoMoreno
2