EUR/NOK Up 179 Pips On 4 Hour Chart, in a Downtrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

EUR/NOK 4 Hour Price Update

Updated May 13, 2020 01:10 AM GMT (09:10 PM EST)

EUR/NOK is up 179 pips (0.16%) since the last 4 hour candle (opening the current 4 hour candle near 11.0256), marking the 2nd candle in a row it has gone up. Relative to other instruments in the Forex asset class, EUR/NOK ranked 6th 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 entered today at 11.0291, up 72 pips (0.07%) from the day prior. Relative to other instruments in the Forex asset class, EUR/NOK ranked 8th the day prior in terms of percentage price change. Let’s take a look at price chart of EUR/NOK.

EUR/NOK Technical Analysis

Notably, EUR/NOK is now close to its 20 and 100 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 100 day average, which is 1878.7 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. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 30 days EUR/NOK’s price has gone down 16 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Not much commentary on EURNOK that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on tradingview.com that we thought you might enjoy.