{"id":11050,"date":"2010-07-13T09:05:07","date_gmt":"2010-07-13T13:05:07","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=11050"},"modified":"2010-07-13T09:05:07","modified_gmt":"2010-07-13T13:05:07","slug":"time-to-buy-the-norwegian-kroner-nok","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/07\/13\/time-to-buy-the-norwegian-kroner-nok\/","title":{"rendered":"Time to Buy the Norwegian Kroner (NOK)?"},"content":{"rendered":"<p><strong>By Greg Holden<\/strong> &#8211; A clear descending triangle pattern has developed on the daily chart  of the USD\/NOK and many analysts are now expecting a bearish breakout in  the coming days. A descending triangle formation historically  represents a bearish signal.<\/p>\n<p>The chart shown below is the USD\/NOK  daily chart provided by <span style=\"text-decoration: underline;\"><a href=\"http:\/\/www.forexyard.com\/en\/open-live-account\">ForexYard<\/a><\/span>.  Support and resistance lines are indicated by corresponding letters and  numbers (R = resistance; S = support).<\/p>\n<p>&#8211; We can see that the latest candlestick on the chart is a doji  candlestick, which represents a reversal to the previous movement. This  means we may expect a short uptick before any bearish breakouts can  occur.<\/p>\n<p>&#8211; The moment to watch for is the breakout beyond the lower level of  the descending triangle. The price of 6.3200 marks this lower border.<\/p>\n<p>&#8211; Below this price level we have a number of psychological barriers  which may indicate profitable targets. The first support line sits at  6.2500, followed by 6.1500, and ending around 6.0600.<\/p>\n<p><strong>USD\/NOK \u2013 Daily Chart<\/strong><\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/07\/USDNOK-Daily-Chart.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/07\/USDNOK-Daily-Chart.JPG\" alt=\"\" width=\"590\" height=\"553\" \/><\/a><\/p>\n<p><strong><em>Forex Market Analysis<\/em> provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex                            Yard.<\/a><\/strong><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                            may not be suitable for all investors. There   is  a              possibility      that     you   could sustain a loss   of  all   of    your         investment and      therefore  you       should   not    invest   money  that   you      cannot afford to        lose. You    should    be      aware of   all   the    risks     associated with     Foreign      Exchange    trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Greg Holden &#8211; A clear descending triangle pattern has developed on the daily chart of the USD\/NOK and many analysts are now expecting a bearish breakout in the coming days. A descending triangle formation historically represents a bearish signal. The chart shown below is the USD\/NOK daily chart provided by ForexYard. Support and resistance &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/07\/13\/time-to-buy-the-norwegian-kroner-nok\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Time to Buy the Norwegian Kroner (NOK)?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-11050","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11050","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=11050"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11050\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=11050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=11050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=11050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}