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Euro / Norwegian Krone

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EURNOK trade ideas

EURNOK : Norges Bank is most likely raise rates in JuneScandinavia’s richest corner breaks global central banking mold - Bloomberg - As much of the world’s central banking community goes into a defensive crouch, Norway is signalling it’s ready to deliver multiple interest rate hikes. Governor says March forecast may imply 2-3 rate hikes in 2019 Norway’s oil wealth is allowing it to buck the global trend Near-term Levels As described on the chart. I will share the detailed report later.
Short
by chartreader_pro
forexTrdr EURNOK- NOK THAT PAIR BACK DOWN FROM EXTREME LEVELSMorning traders, This morning we have had the Swedish central bank come out and delay interest rate rises with market now pricing no rise until early 2020 (from mid 2019). This has had a secondary effect on the Norwegian Krona leading to a 700 pips drop versus the Euro. We are looking to capitalise on this move into extreme overbought territory and looking for a pull back into the previous trading range of 9.55 to 9.60. The spike bounced off of resistance levels dating back to early 2019 and forming a descending trendline from previous high levels in April and early February as shown in our Trading View charts. Simple clean trade on event driven news. As always this is not a trade recommendation and simply technical observation. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Short
by forexTrdr