Jump to content
  • 0

Is it possible to trade NOK/EUR?

Question

Hi,

I see that the Norwegian Krone NOK is weak against $Dollar and €Euro, and I am wondering if it is possible to buy this? I don't see where I can buy that

Share this post


Link to post

5 answers to this question

Recommended Posts

  • 0
15 hours ago, jokermads said:

Hi,

I see that the Norwegian Krone NOK is weak against $Dollar and €Euro, and I am wondering if it is possible to buy this? I don't see where I can buy that

Hi, no not nok/eur, you can trade either eur/nok or usd/nok.

Share this post


Link to post
  • 0
49 minutes ago, Caseynotes said:

Hi, no not nok/eur, you can trade either eur/nok or usd/nok.

Ok. But like if I want to short that, like bet that the NOK will increase in value, then I have to short / put USD/NOK, right?

Share this post


Link to post
  • 0
33 minutes ago, jokermads said:

Ok. But like if I want to short that, like bet that the NOK will increase in value, then I have to short / put USD/NOK, right?

that's right see the two charts below usd/nok and nok/usd, they are nearly a mirror of each other though not quite as it's a different market but if you are looking for nok to rise you would need to short the other currency on IG.

As with all pairs check first which other currency is most likely to go the opposite direction, usd, euro, sek? if both currencies head in the same direction the chart will just go sideways.

image.thumb.png.060618d23285c6b5ddb1b449d8a6526f.png

Share this post


Link to post
  • 0
On 02/11/2019 at 13:07, jokermads said:

Ok. But like if I want to short that, like bet that the NOK will increase in value, then I have to short / put USD/NOK, right?

Exactly, when you trade an FX pair you will long/ short the way you believe the first currency will move. So if you were to short USD/NOK that means you believe that USD will weaken against NOK. 

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Answer this question...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×
×