Kroner Update (SEK, DKK, NOK)

All much appreciated esp posting the chart. I´ll check those links. Thanks again

Long time no action in this thread. USD SEK is my hobby. Today i went long on 6,83926. I like to use the daily time frame and swing trading.
Rate cuts in sweden just done on 0,5% and upcoming rate ups in US. Its a no brainer to me. Lets see how it goes. I will update myself in this thread now and then. Hope there are more traders who like this fx pare.
Actually i would like to start a new thread called: USD/SEK
But i need to have a certain amount of followers to do that, maybe someone with enough followers can start it for me?
Have a good week.

This week seems to end on even. Lets see how it develops next week. Have a good weekend.

Trading ideas for the coming week:

Long EURNOK and long USDNOK

The oil price affects the Norwegian economy and the NOK. Below is a chart of Brent Crude. The price of this has weakened since the beginning of May. This week it also broke the 64 level which earlier gave support. Price is currently at the top of a descending trend channel. Therefore a decline in the oil price is possible.



Still independant of the Brent Crude price, a weakening of the NOK can be expected. Below is the charts of EURNOK and USDNOK.

EURNOK. Strong Divergence indicating a bullish move. I will be looking for long entry at the 8.52 -53 area. The stop loss will be placed slightly below the 8.45 level. The NOK pairs can move quite a lot, so relatively wide SL is recommended. Target is 8.66 as a minimum. 8.72 I believe is acchievable.



USDNOK. Divergence indicating continuation of the excisting bull trend (2 weeks). Looking for entry in the 7.72 -78 area. The stop loss dependant of the entry. Target area 7.91 and also 8.00.



If exposure to both pairs is unwanted, because of too big of an exposure against the NOK. My preference would be to go long EURNOK due to a stronger signal. Also the area of entry as it looks now, are better for the EURNOK with regards to setting the SL.

Secured 1600 pips on the EURNOK trade. It has moved 1931 pips at the most from the open of this week.



I didn`t take the USDNOK trade. It has moved 2077 pips at the most since open of this week.

Trading idea: Short EURNOK from current level. Stop loss around a couple of houndred pips above current high. This is an early entry as entry signal is not given yet.

Fundamentals: Norway released poor fundamentals today. Weak oil price. Still room for Bearish correction. Greece crisis and possible USD strenghten due to the NFP release later today, can weaken the EURO.

Does anybody here know why trading SEK is so weird in regards to the profit you make? On my statement it states that I made +3K but in reality it's more like 300. Why is this?

Edit:
Never mind, I got it. I buy USD by borrowing SEK that I get by converting my EUR (I have a euro account) to SEK.
I also got confused because I can only use my broker's web trader at work and through the web trader I can't automatically convert my trades to my base currency (EUR). This is different from home where I'm using my trading software. Using that, I can convert. Ah, stupid mistake, I could've made more. Oh well.

USD/DKK (daily)

enter timezone(GMT-3) of Greenland (currency=DKK) 08:xx.
check the money flow of its pairs.

not sure what yous trying to say roger, your charts are pretty insane.

EUR/NOK short might be a good trade this week as the OPEC meetings may result in a production cut

can try to short with a stop above the 20-day moving average

success hahaha

USD/NOK approaching some key levels on the weekly and daily charts

will it fall below or bounce back up? NOK is a EUR proxy currency so it follows the strength of the EUR, if the ECB is less hawkish tomorrow, then I think that this pair can rally as EUR/USD falls

there is a chance that it has broken down, i think we will see more selling soon

More upside to go. I think it will reach 8.4.

I think there will be more upside next week. Pair is currently stuck around the 20-day MA.

USD/NOK stuck around 20-day MA

stuck around 100 MA on 4 hour chart

about to break out or fake out, i'm long

success, target 8.0 and then possibly 8.4

In Goldman Sachs believe that buying Norwegian krone against the euro is the best trading idea
The bank's strategy recommended selling EURNOK (current rate 9.6185) with a stop at 10.0 and a target at 9.2. Goldman Sachs notes that during the past year Swedish and Norwegian kronas have shown much less dynamic dynamics than they expected, but if the latest data made the bank less optimistic about the nearest prospects for the Swedish currency, then they only strengthened the bullish sentiment towards the Norwegian.