EUR/NOK Down 257 Pips in Last 4 Hours, Breaks Above 50 Day Average; Pin Bar Pattern Appearing on Chart

EUR/NOK 4 Hour Price Update

Updated June 25, 2020 01:11 PM GMT (09:11 AM EST)

EUR/NOK entered the current 4 hour candle at 10.8861, down 257 pips (0.24%) from the last 4 hour candle. Relative to other instruments in the Forex asset class, EUR/NOK ranked 31st 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 up 146 pips (0.13%) since the day prior (opening today near 10.8929), marking the 2nd day in a row an upward move has occurred. Compared to its peers in the Forex, EUR/NOK gave its buyers a return that ranked 8th in terms of percentage change since the day prior. Below is a price chart of EUR/NOK.

EUR/NOK Technical Analysis

First things first: EUR/NOK crossed above its 50 day moving average yesterday. 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 50 day average, which is 213.9 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 30 days EUR/NOK’s price has gone down 18 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.