(Last Updated February 15, 2021 23:19 GMT)
At the moment, EURNOK’s rate is down -0.73 pips (-0.07%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURNOK has now gone down 24 of the past 30 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURNOK. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
EURNOK End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of EURNOK continues; to start today, it came in at a price of 10.2509, down 329 pips (0.32%) since the day prior. Out of the 39 instruments in the Forex asset class, EURNOK ended up ranking 37th for the day in terms of price change. The price chart of EURNOK below illustrates.
EURNOK Technical Analysis
Notably, 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. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 19 out of the past 30 days.