Get started

Canadian Dollar / Norwegian Krone

7.33704NOKR
−0.02858−0.39%
As of today at 07:21 GMT
NOK
No trades
See on Supercharts
Overview
Ideas
Discussions Technicals Seasonals Economic Calendar

CADNOK trade ideas

CAD/NOK SHORT Investment Opportunity 4H Hello everyone, I am Trader Andrea Russo, and today I want to present you a SHORT investment opportunity on CAD/NOK. With the help of the SwipeUP Reversal Radar Multi-Timeframe Alerts indicator, we have identified a setup that stands out for its bearish potential. Investment Setup: Entry Price: 7.67 Target Price (TP): 7,418, corresponding to an estimated profit of 3.28% Stop Loss (SL): 7,803, corresponding to a risk of 1.74% Technical Analysis and Motivation: This setup is based on bearish pressure signals, with technical confirmations that suggest a potential downside reversal. The break of the Dynamic Support on the 4-hour (4H) chart reinforces the idea of ​​a possible bearish movement, offering an interesting trading opportunity. Final Recommendations: Always check the chart to verify that the conditions remain favorable. Apply adequate risk management to optimize the outcome of the trade. Create a strategic plan before acting to best capitalize on this setup. Happy trading everyone! 📉
Short
by Andrea_Russo_SwipeUP
CADNOK Short I've been short CADNOK since 7.9394 (the weekly symmetrical triangle resistance area). The trade was taken based on a weaker CAD. The NOK was irrelevant. At the time, I also went long EURCAD and short CADJPY and CADSEK. The fundamental bias to sell the Canadian dollar is now even more substantial. However, I'm not planning to enter a second short. Instead, I'm holding my short position in anticipation of a bearish breakout of the symmetrical triangle. CITYINDEX:CADNOK
Short
by Samuel_Morton_Trader
Could inflation differentials drive a CADNOK reversal?The Norwegian Krone has been outperforming over the course of the past week, with yesterdays inflation reading bringing greater pressure on the Norges bank to raise rates further. Scope Market Chief Market Analyst Joshua Mahony looks at CADNOK as an interesting opportunity after a six-month period of strength. The divergence between Canadian and Norwegian inflation provides the basis for NOK strength, while the fact that both are positively correlated with crude oil allows us to strip out much of the risk that movements in energy impact the trade. With price having broken through trendline support an completed a double-top formation, there is a good chance we could see the pair give back much of the strength seen in H1.
Short
by ScopeMarkets
ridethepig | CADNOK Market Commentary 2020.03.02Eyes on the technical breakdown in CADNOK to kickstart the week, a few important updates to make here as intervention begins globally from Central Banks and OPEC. For those tracking Oil you will know we got the massive meltdown that we have been expecting in the chart-pack since last year: I am tracking a much larger than expected cut from OPEC at 1mbpd and would therefore recommend trading a bounce in risk markets. The view of a cut from BoC this week seems a done-deal too - this will start the round of global easing. On the technical side, targeting a fresh breakdown into the stops at 6.8xx. Invalidation is found above the recent highs. Thanks as usual for keeping the support coming with likes, comments and etc!
Short
by ridethepig
1
ridethepig | Apple in the worm for CADNOKA very good time to update the short-term flow setup for CADNOK after such a brilliant squeeze. For those tracking the 2020 Macro flows: This week we have a simple technical move in play. A textbook case of "Apple in the worm" as it seems to me a poor choice of the moment for buyers to continue the advance. Extending the characteristics position (= swing configuration) by letting buyers go overboard and bet on momentum while the macro defence can be a reliable guardian. A better move is to sell the 6.99xx highs here with targets located initially at the support levels 6.865xx.. and then perhaps 6.47xx. The business of a bullish NOK did not become an attacking instrument; stops can be kept comfortably above the 7.00xx handle. Good luck all those trading CADNOK in the coming sessions, as usual thanks for keeping your support coming with likes, comments and etc!
Short
by ridethepig
CADNOK: Final phase of the bull leg.CADNOK is on a strong 1D Channel Up (RSI = 69.678, MACD = 0.025, ADX = 55.588, Highs/Lows = 0.0757) that started on December 30th when the price touched the 6.72000 Support. It is well above the MA50 and appears to be repeating the previous bullish leg that rebounded on the 1D Support. The pressure zones are symmetrical as seen on the chart. This Channel Up though is on its final phase as the 7.1250 1D Resistance is close. Pursue this late buy opportunity with proper risk management. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Long
by InvestingScope
ridethepig | CADNOK 2020 Macro Map A good time to map the strategy and flows for CADNOK as we approach year-end. As you will have noticed I am tracking for a major pullback in the cross over the first half in 2020, this is coming from large macro forces at play. Central bank coordination has opened up the opportunity for NOK to outperform CAD. Firstly the reflation theme via USD devaluation is going to help Canada a lot less than the rest as Canada will receive a spillover from the US manufacturing recession. Secondly we need to discuss the impact of Oil across both economies. CAD and NOK are affected by oil with divergencies in their breakevens. For example Canada breakevens are circa $45 compared with Norway at $23 per barrel. Meaning simply Norway has more breathing room for the fall in Oil: The third and final leg to the stool is coming from yield differentials. After the more dovish than expected shift in stance from BoC, the window is open for a cut which has not been fully priced while Norges which was previously the last hawk standing has hit the pause button. I personally see room for another hike from Norges next year which is the leg I am looking to trade here. Best of luck all those in CADNOK, a very good pair to add to your FX portfolio.
Short
by ridethepig