EUR/NOK Up 4397 Pips; in an Uptrend Over Past 30 Days

EUR/NOK Price Recap

EUR/NOK is up 4397 pips (4.03%) since yesterday (with its current price near 11.3595), marking the 2nd 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 28.31% from the day prior, and up 138.96% from the same day the week before. Relative to other instruments in the Forex asset class, EUR/NOK ranked 2nd yesterday in terms of percentage price change. Here is a price chart of EUR/NOK.

EUR/NOK Technical Analysis

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 7 out of the past 10 days.

The View From Around the Web

Not much commentary on EURNOK that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Area of working during the current situation, between 10.78x and 10.9x. Strong hit after the drop of oil prices but the Oil is still with a window to drop further and it would put more upward pressure on the pair, CPI of Norway came at 0.9% and Producer price index at -9%. EURNOK: No signs to drop below the current historical new ranges, so far.