EURNOK Up 52 Pips in Last Hour, in a Downtrend Over Past 90 Days; Eyes 20 Day Average

Hourly Update

(Last Updated April 7, 2021 3:19 GMT)

At the moment, EURNOK’s rate is up 0.52 pips (0.05%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 entered today at 10.07629, up 395 pips (0.39%) from yesterday. Relative to other instruments in the Forex asset class, EURNOK ranked 9th yesterday in terms of percentage price change. Below is a price chart of EURNOK.

EURNOK

EURNOK Technical Analysis

The first thing we should note is that the current price of EURNOK is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 14 days EURNOK’s price has gone up 9 them.