EUR/NOK Up 59 Pips in Last 4 Hours, Crosses 50 Day Moving Average; Pin Bar Pattern Appearing on Chart

EUR/NOK 4 Hour Price Update

Updated July 29, 2020 01:15 AM GMT (09:15 PM EST)

EUR/NOK is up 59 pips (0.06%) since the previous 4 hours (opening the current 4 hour candle near 10.6955), marking the 2nd candle in a row it has gone up. Compared to its peers in the Forex, EUR/NOK gave its buyers a return that ranked 12th in terms of percentage change since the previous 4 hours.

EUR/NOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of EUR/NOK continues; to start today, it came in at a price of 10.6856, up 173 pips (0.16%) since the day prior. Compared to its peers in the Forex, EUR/NOK gave its buyers a return that ranked 3rd in terms of percentage change since the day prior. Below is a price chart of EUR/NOK.

EUR/NOK

EUR/NOK Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EUR/NOK crossed above its 50 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 50 day average, which is 24 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days EUR/NOK’s price has gone up 15 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.