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EURO REFERENCE RATE / NORWEGIAN KRONE

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EUXNOK trade ideas

Bearish momentum building?EUR/NOK is rising towards the pivot, which aligns with the 50% Fibonacci retracement and could reverse to the 1st support. Pivot: 11.66459 1st Support: 11.54492 1st Resistance: 11.73724 Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
Bearish drop off?EUR/NOK has reacted off the pivot which is a pullback resistance and could drop to the 1st support. Pivot: 11.66459 1st Support: 11.56552 1st Resistance: 11.74535 Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
Bullish bounce off 50% Fibonacci support?EUR/NOK is falling towards the pivot which acts as an overlap support that lines up with the 50% Fibonacci retracement and could bounce to the 1st resistance. Pivot: 11.62722 1st Support: 11.57989 1st Resistance: 11.75904 Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
Bulls Spring-Loaded After Bears Exhausted at Key Support📍 To see my confluences and/or linework, step 1: grab chart, step 2: unhide Group 1 in object tree, step 3: hide and unhide specific confluences. 😊 🔥 EUR/NOK: Bulls Spring-Loaded After Bears Exhausted at Key Support The Market Participant Battle: Bears have been systematically beaten at the 11.64-11.67 resistance zone (marked as points 1 and 3 on the chart), with bulls proving their strength at the crucial 11.65 support level (point 2). This pattern creates a classic "bears trapped high, bulls defended low" setup where exhausted sellers at point 4 are facing a spring-loaded bullish reversal. The oversold RSI and MFI conditions at point 4, combined with strong volume clustering near point 3, suggests bears have capitulated and price should return upward toward the 11.70-11.75 zone as buyers regain control. Confluences: Confluence 1: Proven Buyer Zone at Point 2 The chart clearly shows point 2 acting as a magnetic support level where institutional buyers defended aggressively. When point 3 closed above point 1's high, it validated point 2 as a "proven market participant zone" - essentially confirming that smart money accumulated positions here. Now at point 4, we're returning to these same proven buyers who should defend their positions again, creating a high-probability bounce setup. Confluence 2: Technical Indicator Alignment Both RSI and MFI indicators show deep oversold conditions at point 4, creating a powerful mean reversion signal. The RSI has been in bearish territory through multiple cycles, suggesting bears are exhausted. Additionally, a bullish candle pattern emerged when a green candle closed above the previous candle's high - this is the classic trade trigger signaling buyer strength returning. Confluence 3: Volume Profile & POC Dynamics The anchored volume profile reveals the closest major volume cluster sits at point 3, acting as a magnet pulling price upward. Point 4 shows price moving above the developing Point of Control (POC) after being under it, indicating a shift in market structure. This volume-based analysis confirms buyers are stepping in at these levels with conviction. Web Research Findings: - Technical Analysis: Multiple analysts show EUR/NOK in a downtrend channel from 12.00 to 11.55, with current support at 11.54-11.60 confirming our point 4 setup - Recent News/Earnings: Norges Bank delivered a hawkish rate cut to 4.0% on September 18, 2025, signaling slower easing ahead - initially bearish but now priced in - Analyst Sentiment: TradingView consensus shows "Strong Sell" on shorter timeframes but forecasts suggest 11.57-12.43 range by year-end 2025 - Data Releases & Economic Calendar: Norway's strong Q2 GDP (0.6% vs 0.3% expected) and persistent 3.1% core inflation support NOK, but oil weakness at $66/barrel creates headwinds - Interest Rate Impact: EUR rates expected to fall faster than NOK rates, creating a narrowing differential that should eventually favor EUR/NOK upside Layman's Summary: Think of this like a tug-of-war where the bears (sellers) pulled hard but got tired at specific price levels. The recent Norges Bank decision was like adding weight to the NOK side temporarily, but with oil prices weak and Europe potentially cutting rates slower than expected, the EUR side is about to pull back. The technical indicators are like energy meters showing the bears are exhausted (oversold), while volume patterns show big buyers waiting at current levels. This creates a spring-loaded setup where a bounce becomes highly probable. Machine Derived Information: - Image 1: EUR/NOK hourly chart with numbered pivot points - Significance: Shows clear 1-2-3-4 pattern formation - AGREES ✔ - Image 2: Same setup with technical indicators - Significance: RSI and MFI deeply oversold at point 4, volume profile confirms support - AGREES ✔ - Image 3: Fibonacci retracement overlay - Significance: Point 4 respecting 61.8% Fibonacci level near 11.66-11.67 - AGREES ✔ - Image 4: Extended Fibonacci view - Significance: Confirms same support zones with volume concentration - AGREES ✔ - Image 5: MSFT comparison chart - Significance: Different asset showing similar pattern structure - NEUTRAL ⚠️ - Image 6: MSFT duplicate - Significance: Same as Image 5 - NEUTRAL ⚠️ Actionable Machine Summary: All chart analyses confirm the primary thesis: bears are exhausted at point 4 after failing to break below the proven buyer zone at point 2. The oversold technical indicators combined with bullish candle patterns and volume support create a high-conviction long setup. The Fibonacci levels provide additional confirmation with the 61.8% retracement acting as support. Conclusion: Trade Prediction: SUCCESS ✅ Confidence: High The confluence of proven buyer support, deeply oversold conditions, volume profile dynamics, and completed pattern structure creates a compelling bullish setup. While fundamental headwinds from Norway's hawkish central bank stance exist, the technical picture suggests these are already priced in. The risk/reward favors longs from current levels with stops below 11.60 and targets at 11.75-11.80.
Long
by jacesabr_real
Bullish reversal at key support?EUR/NOK is falling towards the pivot which acts as a pullback support that aligns with th 38.2% Fibonacci retracement and could bounce to the 1st resistance. Pivot: 11.62545 1st Support: 11.56246 1st Resistance: 11.73259 Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
Long EUR/NOKLong EUR/NOK Recommend going long EUR/NOK: Entry: 11.6 Target: 12.10 Stop: 11.49 Recent NOK strength looks exhausted as global risk appetite softens, Fed rate cut expectations appear overstretched, and seasonal/political uncertainties weigh on NOK. Rising yields linked to deficit concerns and oversold conditions in EUR/NOK strengthen the case for a rebound. The risk-reward favors a long position, though a sharp recovery in risk appetite remains the main downside risk. Don’t forget to like and share your thoughts in the comments! ❤️
Long
by mohamad_md
Bullish reversal off pullback support?EUR/NOK is reacting off the pivot which acts as a pullback support that lines up with the 127.2% Fibonacci extension and could reverse to the 1st resistance which is a pullback resistance. Pivot: 11.66379 1st Resistance: 11.75435 1st Support: 11.59697 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
Bearish continuation?EUR/NOK is reacting off the pivot which acts as a pullback resistance and could drop to the pullback support that lines up with the 78.6% Fibonacci projection. Pivot: 11.76373 1st Support: 11.66458 1st Resistance: 11.85074 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
Bearish drop?EUR/NOK has rejected off the pivot and could potentially drop to the 61.8% Fibonacci support. Pivot: 11.94754 1st Support: 11.84493 1st Resistance: 11.98628 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
Bearish drop?EUR/NOK has rejected off the pivot, which acts as a pullback resistance, and could drop to the 1st support, which is a pullback support that lines up with the 161.8% Fibonacci extension. Pivot: 11.81090 1st Support: 11.72031 1st Resistance: 11.86063 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
#006: EUR/NOK SHORT Investment Opportunity Hi, I'm Andrea Russo and today I want to show you this SHORT investment opportunity on an often undervalued but extremely interesting pair: EURNOK. I would like to thank in advance our Official Broker Partner PEPPERSTONE for the support in creating this article. The Euro / Norwegian Krone exchange rate has reached an excess area, with a recent high in the 11.79 area, showing signs of bullish exhaustion on multiple timeframes. Prices are currently above the EMA200, but this data is not enough to justify a further extension of the rise, especially considering the behavior of institutional operators and the macro weakness of the euro. Technical context The price structure shows a congestive lateral phase, with upper spikes that do not find continuation, signaling a probable distribution phase. The level of 11.8530 has acted as an upper protective zone, often defended with declining volumes and passive orders. The target at 11.5800 corresponds to a historical cluster of volumes, and is supported by protections at the level of options and open interest. In the event of a break of the local lows, an acceleration of the bearish movement is plausible. Fundamental context The Norwegian krone is currently benefiting from an improvement in domestic macro data, while the euro is suffering from a fragile context with divergences between member countries and signs of slowdown. Market sentiment shows a balanced positioning by retail traders, indicating a possible expectation of institutional investors to strike forcefully in the opposite direction to any future imbalances. Stay tuned for more updates.
by Andrea_Russo_SwipeUP
2
EURNOK Bullish Reversal in Progress📉 Weekly Overview: EURNOK holds firm at a major support zone and prints a bullish engulfing candle, signaling potential reversal strength. This is a significant reaction level that previously acted as a demand zone — price respect here is a strong technical clue buyers are stepping in. 📈 Daily Chart Analysis: The daily chart confirms bullish intent as price breaks internal structure and descending trendline, shifting short-term sentiment. Bullish momentum is building, and we now see buyers reclaiming control. ⏰ 4H Chart Setup: The 4H structure breaks trendline resistance and EMA50, and continues upward with strong bullish candles and higher highs. A clear trend reversal is forming on this execution timeframe. 📌 Plan: Bias: Bullish Entry: On minor pullback near broken trendline / EMA50 retest (confirmation entry preferred) Targets: TP1: Previous 4H high TP2: Daily resistance zone Invalidation: Break below the bullish engulfing candle low on weekly timeframe
Long
by Amitrading
CONFUSION SETS IN.....Hello! You are looking at a 6 hour chart, here. Starting out, we can see the 100 day moving average starting to ascend above the 14 day moving average, which indicates bearish momentum is building! On the other hand, we can also see what appears to be a bullish pennant forming, which indicates bullish momentum to the upside. As a disclaimer, I have not taken into account volume or any oscillators, but it appears this pair will be bullish for the short term, but bearish in the long term. Depending on whether you are a long term or short term trader, I personally like what I am seeing from this 6 hour chart! Let me know if this was helpful for you! I love to read comments. Thank you for reading. Trade wisely.
by financetrance
Could the price bounce from here?EUR/NOK is falling towards the pivot which acts as an overlap support and could bounce tot he 1st resistance which is a pullback resistance. Pivot: 11.81545 1st Support: 11.68330 1st Resistance: 12.15726 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
Bullish bounce?EUR/NOK is reacting of the pivot which is a pullback support and could bounce tot he 1st resistance which is also a pullback resistance. Pivot: 11.28684 1st Support: 11.18417 1st Resistance: 11.52178 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
Bullish bounce?EUR/NOK is reacting off the pivot which has been idetified as a pullback support and a bounce from this level could indicate a double bottom pattern which might lead to a potential price rise to the 1st resistance. Pivot: 11.28684 1st Support: 11.18417 1st Resistance: 11.18417 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
Bearish reversal off pullback resistance?EUR/NOK is rising towards the pivot which has been identified as a pullback resistance and could reverse to the 1st support. Pivot: 11.58898 1st Support: 11.49442 1st Resistance: 11.63625 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets