In the duel of the Nordic nations between the strong Norwegian Ragnar (NOK) and the fierce Swedish Earl (SEK), only one can survive.
I am betting my gold coins on the Norwegian krone for the following reasons:
- NOKSEK is fundamentally undervalued
-> fundamentally the pair should rather be trading at 1.04 - 1.05
- Norges Bank surprised EVERYONE...
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...
