25 Mar 2014
EUR/NOK approaches previous high at MA cross
FXStreet (Barcelona) - Currently, EUR/NOK is trading at 8.3391, up 0.13% on the day, having posted a daily high at 8.3485 and low at 8.3203.
EUR eyes on Draghi speech post ZEW
Spot climbed off overnight lows to climb into the European session but met resistance at 8.3470 where the 1H 50 and 100 EMA’s crossed. This morning has seen mixed to lower German ZEW data, with the Current Assessment beating expectations, but the Business Climate and Expectations missing. Later today, ECB President Draghi is scheduled to speak at 16:00 GMT.
EUR/NOK technically bullish?
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish. At the time of writing, RSI is neutral at 67.41, up from 54.29 at the last hour close, while ADX is trending at 41.25, up from 29.72 previous. Meanwhile, daily RSI is in neutral territory at 52.00.
On the hourly EUR/NOK chart, the 200 SMA is climbing and currently at 8.3475, up from the previous hour close at 8.3161. On average, the exponential closing price for the past 20 days is 8.3142, with the trend indicating a continuation higher ahead.
EUR/NOK levels
With spot trading at 8.33391, we can see next resistance ahead at 8.3485 (Daily High), and 8.3566 (Monthly & Weekly High), 8.3568 (Daily Classic R1. Support below can be found at 8.3283 (Daily Open), 8.3380 (Daily Classic PP), and 8.3373 (Weekly Classic PP).
EUR eyes on Draghi speech post ZEW
Spot climbed off overnight lows to climb into the European session but met resistance at 8.3470 where the 1H 50 and 100 EMA’s crossed. This morning has seen mixed to lower German ZEW data, with the Current Assessment beating expectations, but the Business Climate and Expectations missing. Later today, ECB President Draghi is scheduled to speak at 16:00 GMT.
EUR/NOK technically bullish?
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish. At the time of writing, RSI is neutral at 67.41, up from 54.29 at the last hour close, while ADX is trending at 41.25, up from 29.72 previous. Meanwhile, daily RSI is in neutral territory at 52.00.
On the hourly EUR/NOK chart, the 200 SMA is climbing and currently at 8.3475, up from the previous hour close at 8.3161. On average, the exponential closing price for the past 20 days is 8.3142, with the trend indicating a continuation higher ahead.
EUR/NOK levels
With spot trading at 8.33391, we can see next resistance ahead at 8.3485 (Daily High), and 8.3566 (Monthly & Weekly High), 8.3568 (Daily Classic R1. Support below can be found at 8.3283 (Daily Open), 8.3380 (Daily Classic PP), and 8.3373 (Weekly Classic PP).