MarcuDan

NOK/SEK long term view

Long
FX_IDC:NOKSEK   NORWEGIAN KRONE / SWEDISH KRONA
For the past 6 months the pair has been correcting on the Weekly/Monthly chart. So far it made a 3 wave correction, and i am expecting an impulse up to the 0.236 Fib. Will see how the price reacts there, but there are 2 scenarios:

a. we break the corrective structure and go up, or
b. we will have another move down for a 5 wave correction.

Either way, its very probable that we will be going up.

FIY: NOK/SEK has a positive swap so its also a carry trade.

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