{"id":13712,"date":"2010-10-06T08:06:27","date_gmt":"2010-10-06T12:06:27","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=13712"},"modified":"2010-10-06T08:06:27","modified_gmt":"2010-10-06T12:06:27","slug":"nok-set-to-make-gains-against-euro","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/10\/06\/nok-set-to-make-gains-against-euro\/","title":{"rendered":"NOK Set to Make Gains Against Euro"},"content":{"rendered":"<p><strong>By Dan Eduard<\/strong> &#8211; The EUR\/NOK pair has seen some heavy volatility over the last several  weeks.  After dropping as low as 7.8330 in the beginning of September,  the cross has steadily gone up, and is currently trading around the  8.0420 level.  As will be shown through a number of technical  indicators, the euro is likely to enter into a bearish trend against its  Norwegian counterpart in the near future.<\/p>\n<p>We will be looking at the daily chart  for EUR\/NOK provided by Forexyard. The technical indicators we are using  are the Relative Strength Index (RSI), Williams Percent Range and  Stochastic Slow.<\/p>\n<p>1. As we can see, the <a href=\"http:\/\/www.forexyard.com\/en\/relative-strength-index-rsi\">RSI <\/a>is  currently slightly above the 70 level.  Typically, when a currency pair  goes above 70, that pair is in overbought territory, meaning a downward  correction is likely to occur.<\/p>\n<p>2. The Williams Percent Range is showing a similar trend.  Currently,  the indicator is around the -10 level.  Anything above -20 is usually  seen as a sign of impending bearish movement.<\/p>\n<p>3. Finally, the <a href=\"http:\/\/www.forexyard.com\/en\/stochastic\">Stochastic Slow <\/a>has  formed a bearish cross right above the upper support line.  Taking this  into account, along with other indicators already mentioned, traders  can be fairly certain that the pair will experience downward pressure  soon.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/10\/scand-chart-10.5.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/10\/scand-chart-10.5.bmp\" alt=\"\" width=\"590\" height=\"492\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/strong><\/em><\/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>The EUR\/NOK pair has seen some heavy volatility over the last several weeks. After dropping as low as 7.8330 in the beginning of September, the cross has steadily gone up, and is currently trading around the 8.0420 level&#8230;<\/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-13712","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/13712","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=13712"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/13712\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=13712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=13712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=13712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}