Usd/nok

[MrMiyagi]

theres been little in the news (comparatively) about the scandinavian economies bar Iceland hitting the skids, looks like any bad news to come out of norway could send this pair soaring... is there anyone out there who trades/follows it can shed some light on whats going on?

 

[MrMiyagi]

forgot the chart

 

[amit_amik99]

usd/nok has high corelation with oil and the pair tends to also follow loonie. although norway public deficit is one of the strongest in europe so sooner or later market may realise that nok shouldnt weaken to this extent. however the charts show for an upside ugly breakout so trade with cautious.
a safer bet would be euro/nok ..

 

[MrMiyagi]

usd/nok has high corelation with oil and the pair tends to also follow loonie. although norway public deficit is one of the strongest in europe so sooner or later market may realise that nok shouldnt weaken to this extent. however the charts show for an upside ugly breakout so trade with cautious.
a safer bet would be euro/nok ..

Cheers AA... that makes sense.. I can see what you mean about the loonie.. I just think its inevitable that sooner or later every country is gonna start reporting horrific figures, and everyone will be buying $.. crosses like NOK and CAD, seem poised to break in favour of the $.. NOK crosses, on reflection seem much too volatile for me. just thinking aloud

 

[rathcoole_exile]

i've hear that the norwegian skiing industry is on the slide, it looks like investment there is a slippery slope.
in fact, it's all downhill from here .....

hope that helps ? :whistling