News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Gold
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/UVvf51HiVP https://t.co/cLrTN3ezxf
  • 🇬🇧 Markit/CIPS UK Services PMI Flash (OCT) Actual: 52.3 Expected: 54 Previous: 56.1 https://www.dailyfx.com/economic-calendar#2020-10-23
  • 🇬🇧 Markit/CIPS Composite PMI Flash (OCT) Actual: 52.9 Expected: 53.9 Previous: 56.5 https://www.dailyfx.com/economic-calendar#2020-10-23
  • 🇬🇧 Markit/CIPS Manufacturing PMI Flash (OCT) Actual: 53.3 Expected: 53.1 Previous: 54.1 https://www.dailyfx.com/economic-calendar#2020-10-23
  • Heads Up:🇬🇧 Markit/CIPS Composite PMI Flash (OCT) due at 08:30 GMT (15min) Expected: 53.9 Previous: 56.5 https://www.dailyfx.com/economic-calendar#2020-10-23
  • Heads Up:🇬🇧 Markit/CIPS UK Services PMI Flash (OCT) due at 08:30 GMT (15min) Expected: 54 Previous: 56.1 https://www.dailyfx.com/economic-calendar#2020-10-23
  • Heads Up:🇬🇧 Markit/CIPS Manufacturing PMI Flash (OCT) due at 08:30 GMT (15min) Expected: 53.1 Previous: 54.1 https://www.dailyfx.com/economic-calendar#2020-10-23
  • 🇵🇱 Unemployment Rate (SEP) Actual: 6.1% Expected: 6.1% Previous: 6.1% https://www.dailyfx.com/economic-calendar#2020-10-23
  • 💶 Markit Manufacturing PMI Flash (OCT) Actual: 54.4 Expected: 53.1 Previous: 53.7 https://www.dailyfx.com/economic-calendar#2020-10-23
  • 💶 Markit Composite PMI Flash (OCT) Actual: 49.4 Expected: 49.3 Previous: 50.4 https://www.dailyfx.com/economic-calendar#2020-10-23
EUR/NOK Still Under Pressure Although Daily Studies Are Stretched

EUR/NOK Still Under Pressure Although Daily Studies Are Stretched

2012-03-05 06:58:00
Joel Kruger, Technical Strategist
Share:

Eur/SekRemains weighed down for now but we continue to like the prospects for a bullish resumption over the coming days. Look for setbacks to be well supported above 8.75, while back above 8.93 will confirm outlook and accelerate gains.

Usd/SekThe market has broken back below the 200-Day SMA to suggest that more weakness could be in the cards. However, we still see this pair carving a more meaningful longer-term base and would be looking for the formation of a fresh medium-term higher low above 6.30 ahead of the next upside extension back through 7.00 over the coming weeks.

Usd/Nok The market has broken back below the 200-Day SMA to suggest that more weakness could be in the cards. However, we still see this pair carving a more meaningful longer-term base and would be looking for the formation of a fresh medium-term higher low above 5.40 ahead of the next upside extension back through 6.00 over the coming weeks.

Eur/NokThe market remains under intense pressure after breaking down below 7.50 and could have its sights set on the multi-year lows from back in 2002-2003 by 7.20. However, daily studies continue to look quite stretched so we still do not rule out the potential for a significant bullish reversal ahead. Nevertheless, a break back above 7.55 will now be required to alleviate immediate downside pressures.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES