empty
InstaForex Loprais Team - Official participant of the Dakar rally
InstaForex Loprais Team - Official participant of the Dakar rally
This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.
Start as Beginner
How to start trading
Useful information
Training and recordings
InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.
Become Investor
PAMM System
ForexCopy System
Passive investments
Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.
Become Partner
Main Page
Partner Area
Advantages for Affiliates
Registration
This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.
All Promo Campaigns
Bonuses
Contests
Events
Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.
Full details
Forums
We are in social networks
Forex humour
Forex Portal
InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.
Learn More
History
Why Choose Us
InstaSport
Regulation
Company News
Awards
InstaForex Stars
InstaForex Offline
Headquarters
Key documents
Social Responsibility
31.05.2019 06:18 AM
EURNOK: EURO to gain over hawkish NOK? May 31, 2019
Open trading account Open demo account

The euro managed to sustain the bullish momentum over the Norwegian Krone. The single currency is likely to extend further gains.

The Eurozone economy developed at a slower pace in 2018, following a robust growth in the previous year. The number of employed people had increased by more than ten million since mid-2013. The ECB staff projected the annual real GDP growth at 1.1% in 2019, 1.6% in 2020 and 1.5% in 2021. Headline inflation in the Eurozone had lately been flying around 1.5%, somewhat lower than in the figure of last year, when it was around 2.0%. The headline inflation was projected to be 1.2% in 2019, 1.5% in 2020 and 1.6% in 2021. For the longer term if the ECB manages to achieve the target GDP and inflation the euro will grow against all other major currencies.

The Norges Bank remains one of the more hawkish monetary authorities in the world while most other major central banks have paused their rate hike cycle. The inflation of Norway is expected to be 2.5% in 12 months, unchanged from the previous quarter. Expected annual inflation in 2 years is 2.5%, up 0.1% from the previous quarter. The annual wage growth is expected to be 3.1% in 2019 and 3.1% for next year also. 76.9% of households expect the prices for goods and services to be higher in the next 12 months, down 4.0 percentage points from the previous quarter. The main aim of the Norges bank is to maintain monetary stability by keeping inflation low and stable. In terms of GDP, Norway is much stronger than the Eurozone in comparing the last few year's data and the divergence is expected to continue as the Norges Bank is expecting another rate hike in June 2019. This week, the retail sales rate of Norway has improved from 0.6% to 1.8% while credit indicator showed a decrease of 0.1% from the last data.

As of the current scenario, the Norwegian economy showed some positive signals of recovery. The euro attracted the buyers' attention and rose moderately.

Now let us look at the technical view. The price is currently residing inside the range of 9.65 to 9.85 price area which is expected to play the inbound range rejection further as the price push higher towards 9.85 area. A rejection with daily close off the 9.85 area is expected to lead to further bearish pressure which may result in the price residing at the edge of 9.65 support area again in the future. As the price resides below 10.00 area with a daily close, the continuation of the bearish momentum is expected.

This image is no longer relevant

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
All Analytics
Wave analysis
Analysis for EUR/USD on April 16, 2025 The wave structure on the 4-hour chart for the EUR/USD pair has shifted into a bullish formation. I think there's little doubt that this transformation was caused solely
Chin Zhao
18:56 2025-04-16 +02:00
1870
Wave analysis
Analysis for GBP/USD on April 16, 2025 The wave structure of the GBP/USD pair has also transformed into a bullish, impulsive formation — "thanks" to Donald Trump. The wave pattern is almost identical to that of EUR/USD
Chin Zhao
18:53 2025-04-16 +02:00
1420
Breaking Forecast Trading Plan Cryptocurrencies USD/RUB Russian Economy Video Analysis
Trading Instruments
EURUSD GBPUSD USDCHF USDCAD USDJPY AUDUSD EURGBP EURJPY NZDUSD EURNZD Silver Gold #CL #USDX COVID-19 Bitcoin
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

No Progress in Negotiations

This week, the European Union and the United States made no significant progress in resolving trade disputes, as officials from President Donald Trump's administration indicated that most of the U.S
Jakub Novak 18:48 2025-04-16 UTC+2

XAU/USD. Analysis and Forecast

Gold continues to draw investor attention, particularly in times of heightened uncertainty in financial markets. Trade Uncertainty: Ongoing uncertainty in trade relations between the U.S. and China makes gold
Irina Yanina 11:50 2025-04-16 UTC+2

USD/CHF. Analysis and Forecast

The USD/CHF pair is attracting new sellers today, showing signs of weakness under current economic conditions, driven by several key factors. Weak U.S. Dollar: The U.S. Dollar Index, which tracks
Irina Yanina 11:41 2025-04-16 UTC+2

Time works against market

Time is not on Donald Trump's side, nor the side of the US stock market. The longer the uncertainty surrounding White House policy drags on, the more likely it becomes
Marek Petkovich 11:39 2025-04-16 UTC+2

Confrontation Between the U.S. and China Will Negatively Impact Markets (Potential for Renewed Declines in #NDX and Litecoin)

Market optimism, fueled by Donald Trump's active manipulation of the tariff narrative, was short-lived. Traders remain focused on the escalating tensions between the U.S. and China following the U.S. Department
Pati Gani 11:34 2025-04-16 UTC+2

What to Pay Attention to on April 16? A Breakdown of Fundamental Events for Beginners

A few macroeconomic events are scheduled for Wednesday, but some important reports will be released. However, the current key issue is not the reports' significance but how the market will
Paolo Greco 07:06 2025-04-16 UTC+2

GBP/USD Overview – April 16: The Pound Sees No Limits

On Tuesday, the GBP/USD currency pair continued its upward movement. Although this rally was not as strong as last week's surge, the British pound kept rising steadily, with barely
Paolo Greco 03:35 2025-04-16 UTC+2

EUR/USD Overview – April 16: The Euro Stalls Awaiting New Tariffs

The EUR/USD currency pair mostly remained flat throughout Tuesday. Although both pairs are in an upward trend, the euro and the British pound have recently not been trading in sync
Paolo Greco 03:35 2025-04-16 UTC+2

EUR/USD. Gloomy ZEW Indices Put Pressure on the Euro

The euro reacted negatively to the ZEW indices released on Tuesday, which reflected growing pessimism in the European business environment. The key indicators dropped into negative territory for the first
Irina Manzenko 01:08 2025-04-16 UTC+2

The Euro Scared Itself with Its Own Momentum

The euro's surge to the area of three-year highs became possible thanks to Germany's fiscal stimulus, Donald Trump's trade policy, and a capital outflow from North America into Europe. When
Marek Petkovich 01:08 2025-04-16 UTC+2

Top analytics

Relevance up to 00:00 2025-04-19 UTC--4
Technical Analysis of Intraday Price Movement of Nasdaq 100 Index, Thursday April 17, 2025.
06:27 2025-04-17
Technical analysis
Relevance up to 12:00 UTC--4
Analysis for EUR/USD on April 16, 2025
18:56 2025-04-16
Wave analysis
Relevance up to 08:00 UTC--4
Analysis for GBP/USD on April 16, 2025
18:53 2025-04-16
Wave analysis
Relevance up to 07:00 UTC--4
No Progress in Negotiations
18:48 2025-04-16
Fundamental analysis
Relevance up to 07:00 UTC--4
USD/JPY: Simple Trading Tips for Beginner Traders – April 16th (U.S. Session)
18:46 2025-04-16
Forecast
Can't speak right now?
Ask your question in the chat.
Widget callback
Callback widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.