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Is it possible to trade NOK/EUR?


jokermads

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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

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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. 

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