(Last Updated February 11, 2021 1:23 GMT)
At the time of this writing, EURNOK’s rate is down -0.52 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 and 10 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 is down 69 pips (0.07%) since the day prior (opening today near 10.23509), marking the 6th consecutive day a decline has happened. Compared to its peers in the Forex, EURNOK gave its buyers a return that ranked 19th in terms of percentage change since the day prior. Here is a price chart of EURNOK.
EURNOK Technical Analysis
The first thing we should note is that EURNOK is now close to its 20 and 50 day averages, located at 10.3295 and 10.4518 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days EURNOK’s price has gone down 20 them.