EUR/NOK Up 1062 Pips; in an Uptrend Over Past 14 Days

EUR/NOK Price Recap

EUR/NOK is up 1062 pips (1.04%) since yesterday (with its current price near 10.328), marking the 6th day in a row an upward move has occurred. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 8.36% from the day prior, and up 74.06% from the same day the week before. Relative to other instruments in the Forex asset class, EUR/NOK ranked 7th yesterday in terms of percentage price change. The price chart of EUR/NOK below illustrates.

EUR/NOK Technical Analysis

Notably, EUR/NOK is now close to its 20 day averages, located at 10.1214 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 20 day average, which is 2066.4 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 17 out of the past 30 days.