EUR/NOK Up 75 Pips in Last 4 Hours, 3 Day Down Streak Snapped; Pin Bar Pattern Appearing on Chart

EUR/NOK 4 Hour Price Update

Updated June 18, 2020 09:09 AM GMT (05:09 AM EST)

The choppiness in the recent four-hour candle price action of EUR/NOK continues; to start the current 4 hour candle, it came in at a price of 10.7154, up 75 pips (0.07%) since the last 4 hour candle. Compared to its peers in the Forex, EUR/NOK gave its buyers a return that ranked 16th in terms of percentage change since the last 4 hour candle.

EUR/NOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

After 3 down days, EUR/NOK snaps its streak, rising 219 pips (0.2%) over the past day to close at an exchange rate of 10.71722. Out of the 40 instruments in the Forex asset class, EUR/NOK ended up ranking 3rd for the day in terms of price change. Below is a price chart of EUR/NOK.

EUR/NOK Technical Analysis

Notably, EUR/NOK crossed above its 20 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 20 day average, which is 262.6 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days EUR/NOK’s price has gone up 5 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURNOK; just 2 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com that we thought you might enjoy.