Top Trade Idea For October 17th, 2014 – EUR/NOK
By Ric Spooner of CMC Markets
Lower oil prices are bad news for Norway but good news for the Eurozone. This makes EURNOK sensitive to oil prices which have every chance of remaining volatile for a while yet.
With that in mind this triangle formation might be useful for traders. A run up to and rejection of the triangle resistance could be a sell set up. This would start to look a bit like a triple top. Traders might position for a return to the pattern support with potential for a break through the bottom.
Full Article and Trade Details Here
By Ric Spooner of CMC Markets
Lower oil prices are bad news for Norway but good news for the Eurozone. This makes EURNOK sensitive to oil prices which have every chance of remaining volatile for a while yet.
With that in mind this triangle formation might be useful for traders. A run up to and rejection of the triangle resistance could be a sell set up. This would start to look a bit like a triple top. Traders might position for a return to the pattern support with potential for a break through the bottom.
Full Article and Trade Details Here