EURNOK Down 120 Pips in Last Hour, 3 Day Down Streak Broken; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated September 30, 2021 2:17 GMT)

Currently, EURNOK’s rate is down -1.2 pips (-0.12%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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 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)

After 3 down days, EURNOK snaps its streak, rising 13 pips (0.01%) over the past day to close at an exchange rate of 10.06548. Out of the 39 instruments in the Forex asset class, EURNOK ended up ranking 19th for the day in terms of price change. Below is a price chart of EURNOK.

EURNOK

EURNOK Technical Analysis

Notably, EURNOK is now close to its 20, 100 and 200 day averages, located at 10.2097, 10.2621 and 10.2403 respectively, and thus may be at a key juncture along those timeframes. 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 1442.2 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days EURNOK’s price has gone down 17 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.