EUR/NOK Up 193 Pips, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

EUR/NOK Price Recap

EUR/NOK is up 193 pips (0.17%) since yesterday (with its current price near 11.50716), marking the 2nd day in a row an upward move has occurred. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 13.96% from the day prior, but up 102.53% from the same day the week before. Out of the 40 instruments in the Forex asset class, EUR/NOK ended up ranking 15th for the day in terms of day-over-day price change. Let’s take a look at price chart of EUR/NOK.

EUR/NOK Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days EUR/NOK’s price has gone up 7 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.