Week Ahead – Tracking the recovery: is Europe lagging the US?

Posted on September 18, 2020 at 12:53 pm GMT

The latest flash PMI releases will dominate the economic agenda next week as the recovery in the United States appears to be picking up a gear, while the European rebound may have hit a snag. The tables have been turning lately in the US vs Eurozone recovery story, threatening to unravel the euro rally. Trying to predict the economic comeback from the pandemic will also be preoccupying policymakers at the Reserve Bank of New Zealand at their September meeting amid [..]


Technical Analysis – EURNOK retraces from new all-time high despite positive signals

Posted on March 9, 2020 at 4:07 pm GMT

EURNOK looks to have paused in the very short-term, after reversing from the fresh top of 10.9953. Despite the slight weakening in positive momentum reflected in the technical oscillators, positive signals are still evident within the upward sloping simple moving averages (SMAs). The MACD, although appearing to ease slightly, is in the positive area and is distanced above its red trigger line, while the RSI has weakened in the overbought region. To the downside, initial support could come from the [..]


Technical Analysis – EURNOK accelerates to 2-month high; key resistance ahead

Posted on February 3, 2020 at 11:10 am GMT

EURNOK opened positive on Monday, continuing last week’s remarkable rally to two-month high of 10.27. The RSI is still sloping upwards, but it is already above its 70 overbought mark, hinting that downside corrections or some stabilization is possible in the near-term, with the fast Stochastics which reversed north again endorsing this view as well. On the way up, there is a tall wall between 10.27 and the multi-year high of 10.31 and only a decisive close above it could [..]


Technical Analysis – EURNOK buyers take full control pushing off 20 MA

Posted on January 30, 2020 at 11:53 am GMT

EURNOK seems to have found new life in its ascent after pivoting ahead of the 20-period simple moving average (SMA) and improving above the 10.116 hurdle, which is the 76.4% Fibonacci retracement of the down leg from 10.211 to 9.813. The RSI and the Stochastics are currently in overbought territory while the MACD, deep in the positive zone is rising above its red trigger line. The nearing bullish crossover of the 200-period SMA by the 100-period one and the upward [..]


Technical Analysis – EURNOK may have more weakness in store after 2 ½-month lows

Posted on December 19, 2019 at 2:15 pm GMT

EURNOK dived to a 2 ½-month low of 9.95 on Thursday and towards the 38.2% Fibonacci of the upleg from 9.41 to 10.31. More downside could prevail in the short-term as the RSI and the MACD continue to move south in the bearish area but the price needs to close decisively below the 38.2% Fibonacci of 9.96 to trigger a steeper sell-off, probably towards the 50% Fibonacci of 9.86 and the 200-day simple moving average (SMA). Retracing lower and beneath the previous low [..]


Technical Analysis – EURNOK’s decline from record high halts at 50.0% Fibo

Posted on November 7, 2019 at 4:43 pm GMT

EURNOK’s aggressive push lower has ceased around the support region of 10.0619 to 10.0550 – the former being the 50.0% Fibonacci retracement of the up leg from 9.8146 to 10.3110 and the later, the 2018 high of 10.0550 – after tumbling from the all-time high of 10.3110. The technical indicators suggest that the negative momentum is snowballing. The MACD has slipped back below its red trigger line in the negative region, while the RSI and the stochastics have entered oversold [..]


Technical Analysis – EURNOK slips below record highs; could soften in short-term

Posted on October 22, 2019 at 11:59 am GMT

EURNOK entered uncharted territory after closing strongly bullish above the previous peak of 10.09, with the price rising to an all-time high of 10.24 on Friday. The market has slightly softened since then and the fact that the price has been fluctuating around the upper Bollinger band suggests that a weaker performance cannot be ruled out in coming sessions if the RSI makes its way towards its 50 neutral mark as well. In the negative scenario, the bears could lead [..]

Week Ahead – Draghi’s last ECB meeting and Brexit vote to headline muted data week; flash PMIs eyed too

Posted on October 18, 2019 at 11:58 am GMT

It will be relatively quiet on the data front in the coming week with just a handful of top-tier releases, but Mario Draghi’s last ever policy meeting at the helm of the European Central Bank should make for an interesting week. The ECB meeting will not be the only policy gathering in Europe as the Swedish and Norwegian central banks will also be setting monetary policy. Brexit, meanwhile, will remain centre stage as a rejected deal could greet traders on [..]

Week Ahead – Central banks bonanza awaits: Fed might disappoint, BoJ could surprise, more Brexit blues for BoE

Posted on September 13, 2019 at 1:30 pm GMT

With the ECB meeting over, it’ll be the turn of other central banks to try and impress stimulus-hungry markets with no less than four major policy meetings still to come. The Bank of Japan, the Bank of England, the Swiss National Bank, and of course, the Federal Reserve will announce their decisions over the next seven days. Economic data will also make the headlines as Canada, Japan and the United Kingdom publish inflation stats, China releases industrial production and retail [..]


Technical Analysis – EURNOK bulls attempt another push above 2018 high

Posted on August 29, 2019 at 3:24 pm GMT

EURNOK printed a new high of 10.0947 on August 7, but the bears took control and denied the two-week aggressive rally further gains, pulling the pair into a three-week sideways move. The simple moving averages (SMAs) are reflecting that more positive gains are likely to unfold, especially as the bulls take another go at climbing above the 2018 high of 10.0550, finding support from the 21-day SMA. The momentum indicators agree with the positive directional outlook. The MACD although below [..]

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