Euro vs Norwegian Krona, which is stronger?? The former which has gained headwinds from a weaker US dollar as a result of Omicron spread threatening global recovery, or the latter which is an oil linked currency which will gain strength from global reopening?
My Bet, the latter. My first TP from the December highs has been hit. A break below the 50 Day moving average puts the second TP within reaching distance.
Thanks for sharing. Went long yesterday NOK against EUR. Minor support at 9.95 was breached, it looked vey good, but today they are trying to defend 9.95 once more. I think they will fail, and it drops to 9.66 in short order. Then probably lower. Risk aversion in the stock market can be a headwing for the NOK at times, so a short on equities (which look very vulnerable here) could provide some hedging. I think both will be profitable, but with different time frames. Short equities the next 2 weeks, long NOK the next 3 months (until oil tops out and global growth slows down).