EUR/NOK exhibiting Golden Cross

EUR/NOK is undergoing a Golden Cross, a high profile technical event.

This technical pattern consists of a cross between the 100-day and the 200-day moving averages. This per se rare event becomes extremely rare if the pair has witnessed a meaningful correction before or during the cross. This bounce allows trend-following EUR/NOK traders to adhere to the trend at fair valued prices following an otherwise very risky signal.