{"id":8845,"date":"2010-04-27T08:15:06","date_gmt":"2010-04-27T12:15:06","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8845"},"modified":"2010-04-27T08:15:06","modified_gmt":"2010-04-27T12:15:06","slug":"eurnok-set-to-reverse-bearish-trend","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/27\/eurnok-set-to-reverse-bearish-trend\/","title":{"rendered":"EUR\/NOK Set to Reverse Bearish Trend"},"content":{"rendered":"<p><strong>By Dan, ForexYard<\/strong> &#8211; EUR\/NOK has been stuck in a prolonged downward trend for sometime  now.  As will be shown through a variety of technical indicators, the  pair is due for an upward correction in the near future.<\/p>\n<p>The following is the Forexyard daily  chart for EUR\/NOK.  The technical indicators used are the Bollinger  Bands, Relative Strength Index (RSI) and the Stochastic Slow.<\/p>\n<p>1.  As seen in the chart, price ticks from the last several days have  begun to dip below the lower Bollinger Band.  This typically indicates  that an upward correction will take place soon.<\/p>\n<p>2.  This theory is supported by the RSI, which is clearly below the  lower support line, indicating the pair is currently trading in oversold  territory.  Traders can take this as a clear sign that the pair is due  for a bullish trend.<\/p>\n<p>3.  The Stochastic Slow lines are currently crossed below the lower  support line.  This is also a sign that upward movement for the pair  could occur in the foreseeable future, further corroborating our stated  theory.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/04\/eurnok-27.4.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/04\/eurnok-27.4.bmp\" alt=\"\" width=\"595\" height=\"581\" \/><\/a><\/p>\n<p><em><strong>Forex Market Analysis<\/strong><\/em> provided by\u00a0<a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><strong>Forex                        Yard.<\/strong><\/a><\/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, ForexYard &#8211; EUR\/NOK has been stuck in a prolonged downward trend for sometime now. As will be shown through a variety of technical indicators, the pair is due for an upward correction in the near future. The following is the Forexyard daily chart for EUR\/NOK. The technical indicators used are the Bollinger Bands, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/04\/27\/eurnok-set-to-reverse-bearish-trend\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;EUR\/NOK Set to Reverse Bearish Trend&#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-8845","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8845","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=8845"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8845\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}