EUR/NOK Down 48 Pips in Last Hour; Moves Up For the 6th Consecutive Day

Hourly Update

(Last Updated July 20, 2021 2:11 GMT)

At the time of this writing, EURNOK’s rate is down -0.48 pips (-0.05%) 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 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 up 1076 pips (1.03%) since yesterday (opening today near 10.55694), marking the 6th consecutive day it has gone up. Out of the 39 instruments in the Forex asset class, EURNOK ended up ranking 4th 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 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 2112.6 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 9 out of the past 10 days.