EURNOK Down 24 Pips in Last Hour, Crosses 100 Day Moving Average; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated June 3, 2021 4:20 GMT)

Currently, EURNOK’s rate is down -0.24 pips (-0.02%) from the hour prior. The hourly chart shows that EURNOK has seen 3 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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)

EURNOK entered today at 10.13189, down 311 pips (0.31%) from yesterday. Compared to its peers in the Forex, EURNOK gave its buyers a return that ranked 33rd in terms of percentage change since yesterday. The price chart of EURNOK below illustrates.

EURNOK

EURNOK Technical Analysis

Notably, EURNOK crossed below its 100 day moving average yesterday. 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 233.9 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone up 6 out of the past 10 days.