FullTimeTrader
Short

EURNOK-expecting a decline after a 0.61 pullback

FX:EURNOK   Euro Fx/Norwegian Krone
249 0 5
My last attemp to short this pair failed. I still think a big decline should follow on this pair. I want to trade this pair long-term.
We can see a big correction ( AB=CD pattern) finished before. After that a possible zigzgag is forming, first leg followed by a 0.61 fib pullback.
Fundamentals also support this bias: more EUR weakness expected due to possible extended QE . NOK             economy is based mainly on oil             exports and my bias is that oil             should start a rally soon.
Regards.

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