EUR/NOK Down 156 Pips Over Past 4 Hours, Entered Today Down For the 5th Day In A Row; is Inching Close to 20 Day Average

EUR/NOK 4 Hour Price Update

Updated June 19, 2020 09:24 AM GMT (05:24 AM EST)

EUR/NOK is down 156 pips (0.15%) since the last 4 hour candle (opening the current 4 hour candle near 10.661), marking the 5th candle in a row a decrease has occurred. Relative to other instruments in the Forex asset class, EUR/NOK ranked 32nd the last 4 hour candle in terms of percentage price change.

EUR/NOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/NOK is down 130 pips (0.12%) since the previous day (opening today near 10.66779), marking the 5th day in a row a decline has happened. Compared to its peers in the Forex, EUR/NOK gave its buyers a return that ranked 38th in terms of percentage change since the previous day. Below is a price chart of EUR/NOK.

EUR/NOK Technical Analysis

The first thing we should note is that 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 126.4 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. 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.