EURNOK Up 82 Pips in Last Hour, Moves Down For the 3rd Day In A Row; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated October 12, 2020 2:17 GMT)

At the time of this writing, EURNOK’s rate is up 0.82 pips (0.08%) from the hour prior. The hourly chart shows that EURNOK has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. 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)

EURNOK is down 875 pips (0.8%) since yesterday (opening today near 10.79014), marking the 3rd day in a row a decline has happened. Relative to other instruments in the Forex asset class, EURNOK ranked 34th yesterday in terms of percentage price change. Here is a price chart of EURNOK.

EURNOK

EURNOK Technical Analysis

Notably, EURNOK is now close to its 20, 50, 100 and 200 day averages, located at 10.8945, 10.7015, 10.7 and 10.7297 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 200 day average, which is 604.4 pips away. Volatility for EURNOK has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. For additional context, note that price has gone up 16 out of the past 30 days.