{"id":22586,"date":"2010-07-13T06:50:43","date_gmt":"2010-07-13T10:50:43","guid":{"rendered":"http:\/\/www.forexyard.com\/blog\/en\/?p=10433"},"modified":"2010-07-13T06:50:43","modified_gmt":"2010-07-13T10:50:43","slug":"time-to-buy-the-norwegian-kroner-nok-2","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/07\/13\/time-to-buy-the-norwegian-kroner-nok-2\/","title":{"rendered":"Time to Buy the Norwegian Kroner (NOK)?"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/profile-pics\/8.jpg\" width=\"120\"  alt=\"printprofile\" \/><\/p>\n<p>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><span id=\"more-10433\"><\/span>The chart shown below is the USD\/NOK daily chart provided by <a href=\"http:\/\/www.forexyard.com\/en\/open-live-account\">ForexYard<\/a>. 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 &#8211; Daily Chart<\/strong><br \/>\n<img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/07\/USDNOK-Daily-Chart.JPG\" alt=\"USDNOK - Daily Chart\" title=\"USDNOK - Daily Chart\" width=\"590\" height=\"553\" class=\"alignnone size-full wp-image-10434\" \/><\/p>\n<p>For more Scandinavian news, read my article &#8220;<a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/07\/06\/swedish-currency-in-position-for-muted-gains\/\">Swedish Currency in Position for Muted Gains<\/a>.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p> 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.<br \/>\nThe chart shown be&#8230;<\/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-22586","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22586","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=22586"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22586\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=22586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=22586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=22586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}