EURNOK Down 28 Pips in Last Hour, 3 Day Up Streak Ended; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated November 5, 2021 23:24 GMT)

At the moment, EURNOK’s rate is down -0.28 pips (-0.03%) from the hour prior. The hourly chart shows that EURNOK has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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, which opened today priced near 9.86254, is down 68 pips 0.07% since yesterday, marking a reversal from the day prior — and the end of a 3 day positive run. Out of the 39 instruments in the Forex asset class, EURNOK ended up ranking 25th for the day in terms of price change. Let’s take a look at price chart of EURNOK.

EURNOK

EURNOK Technical Analysis

Coming into today EURNOK is now close to its 20 and 50 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 762.7 pips away. Volatility for EURNOK has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days EURNOK’s price has gone up 7 them. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!