EURNOK Up 319 Pips On Hourly Chart, 2 Day Up Streak Broken; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated October 12, 2021 0:18 GMT)

At the moment, EURNOK’s rate is up 3.19 pips (0.32%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. 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 an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)

The back and forth price flow continues for EURNOK, which started today off at 9.88444, down 223 pips 0.22% from yesterday. Compared to its peers in the Forex, EURNOK gave its buyers a return that ranked 29th in terms of percentage change since yesterday. Let’s take a look at price chart of EURNOK.

EURNOK

EURNOK Technical Analysis

Coming into today EURNOK is now close to its 20 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 20 day average, which is 1925.8 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days EURNOK’s price has gone down 6 them.