News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • The AB=CD pattern is simple once you know how to spot it and draw the proper Fibonacci retracements. Make your trading strategy as simple as ABCD here: https://t.co/AKmlmaAZBS https://t.co/AyM4cSDXtC
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: 1.46% Gold: 0.64% Oil - US Crude: -0.93% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/HdkcnCBndK
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.58% 🇬🇧GBP: 0.52% 🇦🇺AUD: 0.44% 🇪🇺EUR: 0.32% 🇨🇭CHF: 0.29% 🇨🇦CAD: 0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Lh2TJjviR7
  • Heads Up:💶 ECB President Lagarde Speech due at 07:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-10-21
  • Canadian Dollar Outlook: Retail Sales Data May Fuel USD/CAD Downtrend - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2020/10/21/Canadian-Dollar-Outlook-Retail-Sales-Data-May-Fuel-USDCAD-Downtrend.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $CAD $CADJPY $USDCAD https://t.co/sCKDAgobER
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: US 500: 0.55% Wall Street: 0.46% Germany 30: 0.25% France 40: 0.20% FTSE 100: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/wmmWvAUv4Y
  • Technical indicators are chart analysis tools that can help traders better understand and act on price movement. Learn more about the importance of technical analysis here: https://t.co/NpC1D8y4Aa https://t.co/soVRqRLnrT
  • 🇬🇧 Core Inflation Rate YoY (SEP) Actual: 0.6% Expected: 1.3% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2020-10-21
  • 🇬🇧 Inflation Rate MoM (SEP) Actual: 0.4% Expected: 0.5% Previous: -0.4% https://www.dailyfx.com/economic-calendar#2020-10-21
  • 🇬🇧 Public Sector Net Borrowing (SEP) Actual: £-36.1B Expected: £-33.6B Previous: £-35.9B https://www.dailyfx.com/economic-calendar#2020-10-21
EUR/NOK Consolidates Ahead of Next Major Upside Extension

EUR/NOK Consolidates Ahead of Next Major Upside Extension

2012-06-07 05:04:00
Joel Kruger, Technical Strategist
Share:

Eur/Sek Overall, we continue to project significant upside in this cross rate and see the market in the process of carving a material base that will ultimately open moves potentially back towards the 9.75 area over the coming months. A major double bottom now looks to be carving by the 8.75 area, and a break above the 9.35 neckline will indeed confirm our bullish outlook.

Usd/Sek An inverse head & shoulders pattern has triggered following the break above 7.00, which now opens the door for more significant gains towards 8.00 further up. However, daily studies are unwinding from severely overbought territory, and as such, look for opportunities to buy into pullbacks towards 6.75.

Usd/Nok The latest break back above 6.10 opens the door for fresh upside over the coming weeks, with the market seen extending towards next key resistance by 6.30 further up. Any setbacks should now be very well supported into the 5.90 area.

Eur/NokLooks to be finally attempting to establish some form of a base after being very well offered over the past several weeks. The latest break back above 7.60 confirms outlook and we now expect to see an acceleration of gains towards 7.65 over the coming days.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES