EUR/NOK Down 4 Pips On Hourly Chart; Came Into Today Up For the 6th Consecutive Day

Hourly Update

(Last Updated June 15, 2022 1:41 GMT)

At the moment, EURNOK’s rate is down 0.04 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURNOK has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURNOK. Given that we see an uptrend 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 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 1316 pips (1.28%) since the previous day (opening today near 10.4322), marking the 6th consecutive day an increase has occurred. Compared to its peers in the Forex, EURNOK gave its buyers a return that ranked 2nd in terms of percentage change since the previous day. Here is a price chart of EURNOK.

EURNOK

EURNOK Technical Analysis

Coming into today EURNOK is now close to its 20 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 20 day average, which is 2344.1 pips away. Or to simplify this another way, note that out of the past 10 days EURNOK’s price has gone up 8 them.