EUR/NOK Up 195 Pips in Last 4 Hours, Entered Today Down For the 2nd Day In A Row; Eyes 50 and 200 Day Averages

EUR/NOK 4 Hour Price Update

Updated August 03, 2020 05:07 AM GMT (01:07 AM EST)

EUR/NOK is up 195 pips (0.18%) since the last 4 hour candle (opening the current 4 hour candle near 10.7376), marking the 2nd candle in a row an increase has occurred. Out of the 37 instruments in the Forex asset class, EUR/NOK ended up ranking 3rd for the four-hour candle in terms of price change.

EUR/NOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/NOK is down 32 pips (0.03%) since yesterday (opening today near 10.6966), marking the 2nd day in a row a decline has happened. Relative to other instruments in the Forex asset class, EUR/NOK ranked 32nd yesterday in terms of percentage price change. Below is a price chart of EUR/NOK.

EUR/NOK

EUR/NOK Technical Analysis

Notably, the current price of EUR/NOK is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 91.5 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone up 7 out of the past 14 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURNOK; just 0 sell signals and 2 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

WAIT FOR CORRECTION TO COMPLETE TO BUY THE BREAKOUT.