Upside vulnerability in EUR/NOK

From an hourly perspective, the EUR/NOK has reached its lowest momentum reading of the last 20 days of trading.

Moreover, the recent plummeting EUR/NOK price action has been highlighted by an above-average reading in the MACD histogram.

While these momentum extremes could migrate to higher time frames, the latest hourly MACD print shows dissipation of speed, thus communicating risks of a immediate upside vulnerability.