EUR/NOK Up 154 Pips Over Past 4 Hours; Pin Bar Pattern Appearing on Chart

EUR/NOK 4 Hour Price Update

Updated July 31, 2020 05:07 AM GMT (01:07 AM EST)

EUR/NOK entered the current 4 hour candle at 10.7633, up 154 pips (0.14%) from the last 4 hour candle. Compared to its peers in the Forex, EUR/NOK gave its buyers a return that ranked 6th in terms of percentage change since the last 4 hour candle.

EUR/NOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/NOK entered today at 10.7458, down 4 pips (0%) from the previous day. Relative to other instruments in the Forex asset class, EUR/NOK ranked 25th the previous day in terms of percentage price change. Below is a price chart of EUR/NOK.

EUR/NOK

EUR/NOK Technical Analysis

The first thing we should note is that 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 593.2 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone up 5 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!