EUR/NOK Down 61 Pips Over Past 4 Hours, Moves Down For the 4th Day In A Row; Pin Bar Pattern Appearing on Chart

EUR/NOK 4 Hour Price Update

Updated July 02, 2020 01:17 AM GMT (09:17 PM EST)

EUR/NOK is down 61 pips (0.06%) since the previous 4 hours (opening the current 4 hour candle near 10.7031), marking the 3rd candle in a row it has gone down. Compared to its peers in the Forex, EUR/NOK gave its buyers a return that ranked 24th in terms of percentage change since the previous 4 hours.

EUR/NOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/NOK is down 16 pips (0.02%) since the previous day (opening today near 10.70199), marking the 4th day in a row a decrease has occurred. Compared to its peers in the Forex, EUR/NOK gave its buyers a return that ranked 25th in terms of percentage change since the previous day. Below is a price chart of EUR/NOK.

EUR/NOK Technical Analysis

Notably, EUR/NOK is now close to its 20, 50 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 20 day average, which is 822 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe. Or to simplify this another way, note that out of the past 14 days EUR/NOK’s price has gone down 9 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!