EURNOK in resistance zone near all-time high

9 oct. 2019

EUR/NOK has reached a resistance zone near the all-time high of 10.1573 + spread. It could be a good long-term short from here (over 10.06), as NOK have been raising interest rates this year (last on Sep 19th), now at 1.50%, due to a solid economy. I'm short from 10.06237 and 10.06587. A short with TP 2000 pips (9.862) SL 2000 pips (10.262) makes the TP within reach and the SL substantially above the all-time high, and if approaching the TP the stop could be moved to 80% of the current profit, and the TP pushed down - perhaps with a partial close performed at the TP level. Be careful - spreads are wide, pips are small and volatility can be high on this exotic pair! Recommend very small positions held for the long-term.