EUR/NOK Down 429 Pips Over Past 4 Hours, Entered Today Up For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart

EUR/NOK 4 Hour Price Update

Updated July 24, 2020 09:09 PM GMT (05:09 PM EST)

EUR/NOK is down 429 pips (0.4%) since the previous 4 hours (opening the current 4 hour candle near 10.6539), marking the 3rd candle in a row a decrease has occurred. Relative to other instruments in the Forex asset class, EUR/NOK ranked 36th the previous 4 hours in terms of percentage price change.

EUR/NOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/NOK is up 28 pips (0.03%) since the previous day (opening today near 10.6871), marking the 3rd day in a row an increase has occurred. Compared to its peers in the Forex, EUR/NOK gave its buyers a return that ranked 14th in terms of percentage change since the previous day. The price chart of EUR/NOK below illustrates.

EUR/NOK

EUR/NOK Technical Analysis

Coming into today EUR/NOK is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 39.7 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. 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.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURNOK; just 1 sell signals and 1 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com that we thought you might enjoy.