Bollinger Bands® on EUR/NOK 1hr charts continue to reflect a volatile environment, but one with no dominant trend on higher time frames.
ADX tracks below 30 suggesting a sideways price action. Endorsing this view, the 50-period simple moving average is locked in-between the 200 and the 800-period SMAs. From a larger perspective the EUR/NOK still appears ranged sideways.
Traders may look for buy opportunities using divergences between price and oscillators, targeting the 800-SMA. A clear break of the 50-SMA below the 200 would switch the tone to bearish.
|9.2544202804565 ||9.2638702392578 ||9.2737703323364 ||9.2931203842163 ||9.3025703430175 ||9.3124704360961 |
|Trend Index||OB/OS Index|
| Bullish || Overbought |