SMA cross inflicts damage to EUR/NOK chart

FXStreet Team FXStreet

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.

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FXStreet Team

FXStreet

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