EURNOK Down 5 Pips in Last Hour, Moves Up For the 2nd Straight Day; Eyes 100 Day Average

Hourly Update

(Last Updated May 28, 2021 1:19 GMT)

At the moment, EURNOK’s rate is down 0.05 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURNOK. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 50 hour changed directions on EURNOK; it is now pointing up. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

EURNOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURNOK is up 233 pips (0.23%) since the day prior (opening today near 10.19839), marking the 2nd straight day an increase has occurred. Compared to its peers in the Forex, EURNOK gave its buyers a return that ranked 15th in terms of percentage change since the day prior. Here is a price chart of EURNOK.

EURNOK

EURNOK Technical Analysis

Notably, EURNOK is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 10 days EURNOK’s price has gone up 8 them.