EUR/NOK long term short
The pair is at historical highs with RSI showing bearish divergence.
EUR/NOK is also forming a bearish triangle which will initiate the long term downtrend.
EUR area is looking to cut interest rates or prolong the QE program. NOK has (the biggest?) sovereign wealthfund which will prove useful if Norway needs fiscal stimulus.
short EUR/NOK also provides a carry. Therefor this is a small carry trade, not like EUR/TRY.
EUR/NOK is also forming a bearish triangle which will initiate the long term downtrend.
EUR area is looking to cut interest rates or prolong the QE program. NOK has (the biggest?) sovereign wealthfund which will prove useful if Norway needs fiscal stimulus.
short EUR/NOK also provides a carry. Therefor this is a small carry trade, not like EUR/TRY.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.