EUR/NOK Down 2 Pips Over Past Hour, Came Into Today Down For the 2nd Day In A Row; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated June 22, 2022 1:41 GMT)

Currently, EURNOK’s rate is down -0.02 pips (0%) from the hour prior. EURNOK has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. 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 is down 472 pips (0.45%) since yesterday (opening today near 10.3647), marking the 2nd day in a row it has gone down. Compared to its peers in the Forex, EURNOK gave its buyers a return that ranked 35th in terms of percentage change since yesterday. Below is a price chart of EURNOK.

EURNOK

EURNOK Technical Analysis

Coming into today the current price of EURNOK is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 1311.2 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days EURNOK’s price has gone up 9 them.