EURNOK Down 4 Pips in Last Hour, Came Into Today Up For the 5th Day In A Row; Breaks Above 20 Day Average

Hourly Update

(Last Updated February 24, 2021 0:20 GMT)

At the moment, EURNOK’s rate is down -0.04 pips (0%) 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. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Of note is that the 20 hour changed directions on EURNOK; it is now pointing down. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

EURNOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURNOK is up 708 pips (0.69%) since the day prior (opening today near 10.32275), marking the 5th day in a row an increase has occurred. Compared to its peers in the Forex, EURNOK gave its buyers a return that ranked 3rd in terms of percentage change since the day prior. Let’s take a look at price chart of EURNOK.

EURNOK

EURNOK Technical Analysis

First things first: EURNOK crossed above its 20 day moving average yesterday. 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 10 days EURNOK’s price has gone up 7 them.