EUR/NOK Down 378 Pips; in an Uptrend Over Past 30 Days

EUR/NOK Price Recap

EUR/NOK enters today at 10.13152 in US dollars, down 378 pips (0.37%) from the day prior. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 29.48% from the day prior, but up 6.31% from the same day the week before. Relative to other instruments in the Forex asset class, EUR/NOK ranked 37th yesterday in terms of percentage price change. Below is a price chart of EUR/NOK.

EUR/NOK Technical Analysis

Coming into today EUR/NOK is now close to its 20, 50, 100 and 200 day averages, located at 10.038, 10.0054, 10.044 and 9.9235 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 100 day average, which is 875.4 pips away. Volatility for EUR/NOK has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 5 out of the past 10 days.