An important moving average crossover has occured on the 4 hour EUR/NOK chart.
A press of the 50 moving average below the 200-period is capable of changing the EUR/NOK price trend from aimless meandering to confidently bearish. Absent a new meaningful throw-back towards the 200 SMA, punters will sell the break of recent lows. Nevertheless, the looming SMA cross could be used to assist the bear force on such a short-term upward movement.
(Market News Provided by FXstreet)