The NOK is under the most pressure, weakening against both the USD (-1.2%) and EUR (-0.7%) as the market unwinds some of the krone’s recent gains with a steep drop in oil prices adding pressure with front-month Brent down over 4% to $34.50, per TD Securities. Key quotes “EUR/NOK has pushed above a near-term trendline that has capped rallies since mid/late April. Interestingly, the cross has tested the backside of it since.” “Liquidity is still a bit scarce there and spreads remain wide. It does, however, seem that a move higher toward a test of 11.10 could be underway.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Ripple Price Analysis: XRP/USD regains ground above $0.2000, still vulnerable to losses FX Street 3 years The NOK is under the most pressure, weakening against both the USD (-1.2%) and EUR (-0.7%) as the market unwinds some of the krone's recent gains with a steep drop in oil prices adding pressure with front-month Brent down over 4% to $34.50, per TD Securities. Key quotes “EUR/NOK has pushed above a near-term trendline that has capped rallies since mid/late April. Interestingly, the cross has tested the backside of it since.” “Liquidity is still a bit scarce there and spreads remain wide. It does, however, seem that a move higher toward a test of 11.10 could be underway.” Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
