Eurnokshort
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:
EURNOK - To valhalla!First things first: all hail the vikings!
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 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
EURNOK $EURNOK Initial ShortEURNOK $EURNOK Initial Short. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.
EURNOK SHORT -TERM ✅OANDA:EURNOK
This is a short term deal!
Drawn boundaries mean target.
Drawn lines mean a return on price.
Do not forget that you can not trade without a signal because this is an analysis.
IRFOFC
EURNOK- Norway Increases Interest RatesNorway's central bank raised its benchmark interest rate on Thursday as widely expected, and said more hikes were likely next year although that would depend on the impact of a surge in coronavirus infections and the emergence of the Omicron variant.
Norges Bank's monetary policy committee raised the sight deposit rate to 0.50% from 0.25%, its second hike in three months, as predicted by 20 out of 22 economists polled by Reuters and in line with the central bank's own plan.
In other words: Fundamentals are strong here and our chart agrees.
Our Love to all our Norwegian friends,
the FXPROFESSOR
FOREX ANALYSIS : EURNOKFX:EURNOK
The blue and red lines mean: I think prices can return in these areas.
Green lines mean: I think the price can reach these areas. They are therefore known as transaction targets.
If you want to use this deal, please risk only one percent of your account balance.
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 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 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 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
EURNOK ShortsHi traders, in this setup I am looking for short oppotunities on EURNOK.
Price broke the trend line and created a supply zone which I am looking at for price action to take shorts
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.
EURNOK-Head & Shoulders In The worksThis pair has just come off a multi-year high. Does it really make any sense since Norway is pretty solid on cash and Europe is a mess? With oil at support, I am going to short this right shoulder.
EURNOK STRONG SELL IS COMING SOONhello everyone, strong sell will come to EURNOK at the all time highs! trade safe and trade with care! also check lower time frame for entry! if price keep pushing higher be patient and wait for the right time. sell is here at least corrective sell!
EURNOK is near historical highest price As you can see EURNOK is near highest price (green line) and tested this line many times and fails to break this. its nice trade to sell at this price and put SL on top of that. in the other hand trend line (black line) is really strong and had been test for many times and again fail to break that. so we can take short here till target 1. if trend line breaks, target 2 and target 3 are accessible
RISK ON, SHORT EURNOK for long term tradeHello fellow traders,
I expect all major markets to trade RISK ON since the FED announced QE 4, ECB starting QE ETERNITY, which is EUR negative, Brexit deal was just announced and optimism over a trade deal between the United States and China has ebbed.
EURNOK in resistance zone near all-time high (rising wedge)EUR/NOK has reached a resistance zone near the all-time high of 10.1573 + spread and may be in a rising wedge. It could be a good long-term short from here (over 10.06), as NOK have been raising interest rates this year (last on Sep 19th), now at 1.50%, due to a solid economy. I'm short from 10.06237 and 10.06587. A short with TP 2000 pips (9.862) SL 2000 pips (10.262) makes the TP within reach and the SL substantially above the all-time high, and if approaching the TP the stop could be moved to 80% of the current profit, and the TP pushed down - perhaps with a partial close performed at the TP level - it could go down to 8.794 if the rising wedge is real and broken or even much lower. Be careful - spreads are wide, pips are small and volatility can be high on this exotic pair! If you take a position (do your own analysis), I recommend very small positions held for the long-term.
EURNOK in resistance zone near all-time highEUR/NOK has reached a resistance zone near the all-time high of 10.1573 + spread. It could be a good long-term short from here (over 10.06), as NOK have been raising interest rates this year (last on Sep 19th), now at 1.50%, due to a solid economy. I'm short from 10.06237 and 10.06587. A short with TP 2000 pips (9.862) SL 2000 pips (10.262) makes the TP within reach and the SL substantially above the all-time high, and if approaching the TP the stop could be moved to 80% of the current profit, and the TP pushed down - perhaps with a partial close performed at the TP level. Be careful - spreads are wide, pips are small and volatility can be high on this exotic pair! Recommend very small positions held for the long-term.
