EUR/NOK Up 121 Pips Over Past 4 Hours, Moves Up For the 2nd Day In A Row; in an Uptrend Over Past 90 Days

EUR/NOK 4 Hour Price Update

Updated May 12, 2020 12:57 AM GMT (08:57 PM EST)

EUR/NOK is up 121 pips (0.11%) since the previous 4 hours (opening the current 4 hour candle near 11.1265), marking the 5th candle in a row it has gone up. Compared to its peers in the Forex, EUR/NOK gave its buyers a return that ranked 3rd 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 up 78 pips (0.07%) since the previous day (opening today near 11.1274), marking the 2nd day in a row an increase has occurred. Relative to other instruments in the Forex asset class, EUR/NOK ranked 11th the previous day in terms of percentage price change. The price chart of EUR/NOK below illustrates.

EUR/NOK Technical Analysis

Notably, EUR/NOK is now close to its 20 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 1423.5 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. 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!