EURNOK Down 48 Pips On Hourly Chart, Moves Up For the 3rd Consecutive Day; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated February 19, 2021 23:19 GMT)

At the time of this writing, EURNOK’s rate is down -0.48 pips (-0.05%) from the hour prior. This is the 2nd hour in a row EURNOK has seen its price head down. Regarding the trend, note that the strongest trend exists on the 100 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 is up 35 pips (0.03%) since the day prior (opening today near 10.23449), marking the 3rd consecutive day an increase has occurred. Compared to its peers in the Forex, EURNOK gave its buyers a return that ranked 23rd in terms of percentage change since the day prior. The price chart of EURNOK below illustrates.

EURNOK

EURNOK Technical Analysis

Coming into today 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. For additional context, note that price has gone down 8 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURNOK; just 1 sell signals and 2 buy signals. This imputes a buy/sell ratio of 2, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

we are seeing the EUR strengthen this morning, over many pairsas the Norwegian currency this week could see it battling with the EURO and other pairs. I have a short BUY in and TP at 10.23115 if it breaks this price we could see further movement towards 10.30430