(Last Updated September 23, 2022 1:39 GMT)
Currently, EURNOK’s rate is down -0.51 pips (-0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend 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 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)
The back and forth price flow continues for EURNOK, which started today off at 10.2331, up 565 pips 0.56% from yesterday. Compared to its peers in the Forex, EURNOK gave its buyers a return that ranked 7th in terms of percentage change since yesterday. Let’s take a look at price chart of EURNOK.
EURNOK Technical Analysis
The first thing we should note is that EURNOK is now close to its 20, 100 and 200 day averages, located at 10.02, 10.1125 and 9.992 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 100 day average, which is 1205.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone up 16 out of the past 30 days.