EUR/NOK Down 48 Pips in Last 4 Hours, Moves Up For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart

EUR/NOK 4 Hour Price Update

Updated July 24, 2020 01:06 PM GMT (09:06 AM EST)

EUR/NOK entered the current 4 hour candle at 10.6998, down 48 pips (0.04%) from the previous 4 hours. Relative to other instruments in the Forex asset class, EUR/NOK ranked 20th the previous 4 hours in terms of percentage price change.

EUR/NOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/NOK is up 28 pips (0.03%) since yesterday (opening today near 10.6871), marking the 3rd day in a row an increase has occurred. Relative to other instruments in the Forex asset class, EUR/NOK ranked 14th yesterday 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, 50, 100 and 200 day averages, located at 10.6334, 10.6911, 10.9367 and 10.6372 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 50 day average, which is 39.7 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days EUR/NOK’s price has gone up 8 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURNOK; just 1 sell signals and 1 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com that we thought you might enjoy.