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Usdnoksell

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.
Short
by UpHighTrade
USDNOK – bearish continuation …31 May, 2021There is a history of ranging before breaking down in this pair. See how it was ranging between 8.6450 and 8.3800 for several weeks before it broke below. Now we have something similar and despite multiple attempts during the past 6 weeks, this pair has been unable to close above 8.3800. This pair has clearly been on a strong bearish trend since Nov. and I don’t have any reason to think that this will change any time soon. I am looking to find an entry at/close to 8.3800 with my stop above the recent high. My target will be above the next s/r level located at 8.1800. If this plays out the way I am anticipating, this could be a nice +2.50R opportunity. As always, watching the price action on a lower time frame before committing to a trade is advisable. If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications. Always use sound money and risk management in all your trades.
Short
by Trading_Vista
USDNOK potential reversal! USDNOK expected to rise up to 1st resistance at 9.03979 where it could potentially react off and drop down to 1st support at 8.93861. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Short
by Pepperstone