EUR/NOK: faster SMA now above 200-hour

FXStreet Algorythms FXStreet

As the EUR/NOK hourly chart illustrates, a cross in the 50-period SMA above the 200-period has been spotted.

In the current scenario, the recently printed low prices are at relatively narrow distance to the SMA juncture which is expected to withstand a collision. Buyers might take advantage of any marginal decline to place their orders.

The risk scenario is a sustained close beyond the 200-SMA.

Author

FXStreet Algorythms

FXStreet

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