EUR/NOK Down 143 Pips Over Past Hour, 5 Day Down Streak Broken; Breaks Above 20 Day Average

Hourly Update

(Last Updated July 4, 2022 1:39 GMT)

Currently, EURNOK’s rate is down -1.43 pips (-0.14%) 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 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, which opened today priced near 10.3494, is up 301 pips 0.29% since the day prior, marking a reversal from the day prior — and the end of a 5 day negative run. Compared to its peers in the Forex, EURNOK gave its buyers a return that ranked 9th in terms of percentage change since the day prior. Let’s take a look at price chart of EURNOK.

EURNOK

EURNOK Technical Analysis

First things first: EURNOK crossed above its 20 day moving average yesterday. 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 166.3 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. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 7 out of the past 10 days.

The View From Around the Web

Not much commentary on EURNOK that we’re finding noteworthy here; as such, there’s not much we can say about sentiment. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

EURNOK Entry Price 10.35190; Take Profit Price 10.63167 https://www.tradingview.com/x/22jB95I0/ https://www.tradingview.com/x/zYC4ekTK/