{"id":4637,"date":"2009-11-10T09:47:54","date_gmt":"2009-11-10T14:47:54","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=4637"},"modified":"2009-11-10T09:47:54","modified_gmt":"2009-11-10T14:47:54","slug":"scandinavian-economies-leading-europe-out-of-recession","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/11\/10\/scandinavian-economies-leading-europe-out-of-recession\/","title":{"rendered":"Scandinavian Economies Leading Europe out of Recession?"},"content":{"rendered":"

By Greg Holden<\/strong> – Following last week\u2019s employment data from the United States it appears as if the US Dollar has entered a free-fall and many other global currencies are reaping the benefits. The Scandinavian currencies have largely entered bullish trends against the greenback, but also surprisingly against the EUR.<\/p>\n

While some analysts were concerned about a swift Swedish recovery due to the Baltic crisis, most countries in the northerly region have seen strong and steady growth. Norway\u2019s economy has benefited largely from climbing Crude Oil prices and Denmark\u2019s debate about entry into the EU\u2019s legal regulations has helped its economy find direction.<\/p>\n

The NOK, SEK and DKK have all climbed to 2-week highs versus the USD, as well as a near-2-week high against the EUR. Following Norway\u2019s decision to hike interest rates recently, the region appears to be on the receiving end of recent risk appetite. If this continues, Scandinavia may find itself leading the broader region out of this economic downturn.<\/p>\n

Technical Analysis<\/strong><\/p>\n

– The chart below is the 2-hour EUR\/SEK chart by ForexYard<\/a>.<\/p>\n

– The indicators used are the Relative Strength Index (RSI) and the Stochastic (slow).<\/p>\n

– Point 1: The RSI shows that this pair is currently over-sold and experiencing upward pressure.<\/p>\n

– Point 2: The Stochastic (slow) shows a deep bullish cross followed by an upward cascading price movement. This suggests that there is momentum behind the current upward correction.<\/p>\n

\"\"<\/a><\/p>\n

Forex Market Analysis<\/strong><\/em> provided by\u00a0Forex Yard.<\/strong><\/a><\/p>\n

\u00a9 2006 by FxYard Ltd<\/p>\n

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Greg Holden – Following last week\u2019s employment data from the United States it appears as if the US Dollar has entered a free-fall and many other global currencies are reaping the benefits. The Scandinavian currencies have largely entered bullish trends against the greenback, but also surprisingly against the EUR. While some analysts were concerned … <\/p>\n

Continue reading “Scandinavian Economies Leading Europe out of Recession?”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-4637","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/4637","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=4637"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/4637\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=4637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=4637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=4637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}