(Last Updated July 15, 2021 2:4 GMT)
At the time of this writing, EURNOK’s rate is down 0 pips (0%) from the hour prior. EURNOK has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
EURNOK End of Day Recap
Updated 00:30 GMT (04:30 EST)
EURNOK is up 16 pips (0.02%) since the previous day (opening today near 10.338), marking the 3rd consecutive day an upward move has occurred. Compared to its peers in the Forex, EURNOK gave its buyers a return that ranked 17th in terms of percentage change since the previous day. Let’s take a look at price chart of EURNOK.
EURNOK Technical Analysis
Coming into today EURNOK is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 200 day average, which is 145.5 pips away. 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. Or to simplify this another way, note that out of the past 10 days EURNOK’s price has gone up 7 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.