EUR/NOK Up 26 Pips On 4 Hour Chart; Pin Bar Pattern Appearing on Chart

EUR/NOK 4 Hour Price Update

Updated June 24, 2020 01:11 PM GMT (09:11 AM EST)

EUR/NOK is up 26 pips (0.02%) since the last 4 hour candle (opening the current 4 hour candle near 10.7944), marking the 2nd candle in a row it has gone up. Relative to other instruments in the Forex asset class, EUR/NOK ranked 15th the last 4 hour candle in terms of percentage price change.

EUR/NOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for EUR/NOK, which started today off at 10.76609, up 205 pips 0.19% from yesterday. Out of the 40 instruments in the Forex asset class, EUR/NOK ended up ranking 4th for the day in terms of price change. Below is a price chart of EUR/NOK.

EUR/NOK Technical Analysis

Coming into today EUR/NOK is now close to its 20, 50 and 200 day averages, located at 10.6863, 10.8765 and 10.5615 respectively, and thus may be at a key juncture along those timeframes. 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 20 day average, which is 797.6 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. 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. For additional context, note that price has gone down 6 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.