Is it possible to trade NOK/EUR?

[Guest jokermads]

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

[Caseynotes]

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.

[Guest jokermads]

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?

[Caseynotes]

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.

[Caseynotes]

@jokermads  https://e-markets.nordea.com/#!/article/54413/fx-weekly-weve-got-99-problems-but-the-nok-aint-one

[CharlotteIG]

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.