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.
*****************DISCLAMER********************************************************************
Always do your own analysis before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
Follow me on Twitter for updates: fxtrader2000
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.
*****************DISCLAMER********************************************************************
Always do your own analysis before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
Follow me on Twitter for updates: fxtrader2000
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.