EUR/NOK Up 383 Pips; in an Uptrend Over Past 14 Days

EUR/NOK Price Recap

EUR/NOK is up 383 pips (0.38%) since yesterday (with its current price near 10.22179), marking the 5th day in a row it has gone up. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 10.29% from the day prior, and up 141.52% from the same day the week before. Relative to other instruments in the Forex asset class, EUR/NOK ranked 9th yesterday in terms of percentage price change. The price chart of EUR/NOK below illustrates.

EUR/NOK Technical Analysis

The first thing we should note is that the current price of EUR/NOK is sitting close to its 20, 50 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 1105.8 pips away. 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 14 days EUR/NOK’s price has gone up 8 them.

The View From Around the Web

Not much commentary on EURNOK that we’re finding noteworthy here; are y’all just scared to put out an opinion? 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Hey, here my analysis to EURNOK. XABCD Pattern? (all information in the Chart)This is only my opinion and no financial advice!