Trade coming 4 hours late
it is based on the lower than expected inflation data that came today, as Norway seems to be dragged by Europe.
This will lower expectations of interest rate hike in Norway, some of which had been priced in NOK. That pricing is going for some loss.
Remember that this is a late trade, SL is poisitioned below February month's low (and open).
personally, a TP of 8.95 is very optimistic, may stop at 8.78 to 8.8, and will cancel trade after march 1st, as it is Norway were talking about (with positive trade balance etc...) and not greece or turkey.
Will update if action is taken
it is based on the lower than expected inflation data that came today, as Norway seems to be dragged by Europe.
This will lower expectations of interest rate hike in Norway, some of which had been priced in NOK. That pricing is going for some loss.
Remember that this is a late trade, SL is poisitioned below February month's low (and open).
personally, a TP of 8.95 is very optimistic, may stop at 8.78 to 8.8, and will cancel trade after march 1st, as it is Norway were talking about (with positive trade balance etc...) and not greece or turkey.
Will update if action is taken
Trade closed manually:
Close at entry of yesterday.
Oil price is breaking out which wd bring usdnok down.
Oil price is breaking out which wd bring usdnok down.