Euro Versus Norwegian Krone and Pound July 29th

FX Strategy Video > Currency Pairs Analysis

The EUR/NOK pair has been consolidating in a wide range for about 1 year now, and as we approach this bottom, one cannot help but notice the fact that the Thursday candle was indeed a hammer. This is a very bullish sign, and as such - lends itself to be a decent buy signal. This isn't a long-term trade, rahter a way to perhaps pocket a few hundred pips before it is all said and done.

The EUR/GBP is the epitome of a choppy pair. The pair does look vulnerable, but the Pound isn't exactly a darling either. Because of this, the pair looks bias to the downside, but we will more than likely see a lot of chopping in the process.

Published on 28th of July 2011
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