(Last Updated July 15, 2021 1:17 GMT)
At the time of this writing, EURNOK’s rate is down 0 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. 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)
EURNOK is up 254 pips (0.25%) since the previous day (opening today near 10.33636), marking the 2nd consecutive day it has gone up. Out of the 39 instruments in the Forex asset class, EURNOK ended up ranking 8th for the day in terms of price change. The price chart of EURNOK below illustrates.
EURNOK Technical Analysis
The first thing we should note is that EURNOK is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 200 day average, which is 187.1 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign. 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 30 days EURNOK’s price has gone up 16 them.