{"id":10211,"date":"2010-06-14T08:54:41","date_gmt":"2010-06-14T12:54:41","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=10211"},"modified":"2010-06-14T08:54:41","modified_gmt":"2010-06-14T12:54:41","slug":"eurnok-likely-to-see-strong-upward-momentum","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/06\/14\/eurnok-likely-to-see-strong-upward-momentum\/","title":{"rendered":"EUR\/NOK Likely to See Strong Upward Momentum"},"content":{"rendered":"<p><strong>By Dan Eduard<\/strong> &#8211; For our technical analysis, we will be looking at the 8-hour chart  for the EUR\/NOK pair provided by ForexYard.  As will be shown, the pair  is currently trading in oversold territory and will likely see an upward  correction in the near future.<\/p>\n<p>The technical indicators being used are  Bollinger Bands, Relative Strength Index (RSI) and Stochastic Slow.<\/p>\n<p>1. As shown on the chart, the pair is currently trading on the border  of the lower Bollinger Band.  This typically indicates an upward  correction is imminent.  Furthermore, the Bollinger Bands are beginning  to widen, meaning a major price shift could occur in the near future.<\/p>\n<p>2. The RSI shows the pair currently trading around the 20 line, well  into oversold territory. When traders see the RSI at such a low point on  the chart, they can take it as a sign that bullish movement could occur  soon.<\/p>\n<p>3. Traders can see a cross already formed on the Stochastic Slow  lines at the bottom of the chart.  Typically, when such a cross occurs,  the pair begins to see some upward momentum.  This further corroborates  our original theory that a bullish correction is likely to take place.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/06\/tech-14.6.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/06\/tech-14.6.bmp\" alt=\"\" width=\"595\" height=\"555\" \/><\/a><\/p>\n<p><strong><em>Forex Market Analysis<\/em> provided by\u00a0<a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex         Yard.<\/a><\/strong><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and         may not be suitable for all investors. There is a possibility   that     you   could sustain a loss of all of your investment and   therefore  you     should  not invest money that you cannot afford to   lose. You  should  be    aware of  all the risks associated with Foreign   Exchange  trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Dan Eduard &#8211; For our technical analysis, we will be looking at the 8-hour chart for the EUR\/NOK pair provided by ForexYard. As will be shown, the pair is currently trading in oversold territory and will likely see an upward correction in the near future. The technical indicators being used are Bollinger Bands, Relative &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/06\/14\/eurnok-likely-to-see-strong-upward-momentum\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;EUR\/NOK Likely to See Strong Upward Momentum&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-10211","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=10211"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10211\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=10211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=10211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=10211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}