EUR/NOK Price Recap
The back and forth price flow continues for EUR/NOK, which starts today off at 10.30663 US dollars, down 456 pips 0.44% from the previous day. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 23.18% from the day prior, but up 16.95% from the same day the week before. Relative to other instruments in the Forex asset class, EUR/NOK ranked 34th yesterday in terms of percentage price change. Below is a price chart of EUR/NOK.
EUR/NOK Technical Analysis
Notably, the current price of EUR/NOK is sitting close to its 20 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 20 day average, which is 1557.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days EUR/NOK’s price has gone up 10 them.