EUR/NOK Down 87 Pips On 4 Hour Chart; Pin Bar Pattern Appearing on Chart

EUR/NOK 4 Hour Price Update

Updated July 21, 2020 09:11 AM GMT (05:11 AM EST)

EUR/NOK is down 87 pips (0.08%) since the previous 4 hours (opening the current 4 hour candle near 10.5331), marking the 8th candle in a row a decrease has occurred. Compared to its peers in the Forex, EUR/NOK gave its buyers a return that ranked 29th 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 entered today at 10.55949, up 23 pips (0.02%) from yesterday. Compared to its peers in the Forex, EUR/NOK gave its buyers a return that ranked 20th in terms of percentage change since yesterday. Here is a price chart of EUR/NOK.

EUR/NOK Technical Analysis

Notably, EUR/NOK is now close to its 20, 50 and 200 day averages, located at 10.6589, 10.7068 and 10.6302 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 200 day average, which is 707.2 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days EUR/NOK’s price has gone down 16 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!