EUR/NOK Price Recap
EUR/NOK is up 287 pips (0.28%) since yesterday (with its current price near 10.18349), marking the 4th day in a row an increase has occurred. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 12.62% from the day prior, and up 117.58% from the same day the week before. Relative to other instruments in the Forex asset class, EUR/NOK ranked 11th yesterday in terms of percentage price change. Let’s take a look at price chart of EUR/NOK.
EUR/NOK Technical Analysis
The first thing we should note is that EUR/NOK is now close to its 20, 50, 100 and 200 day averages, located at 10.1043, 9.991, 10.0565 and 9.9385 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 791.8 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. Or to simplify this another way, note that out of the past 30 days EUR/NOK’s price has gone up 17 them.