(Last Updated September 17, 2021 1:18 GMT)
At the moment, EURNOK’s rate is up 0.09 pips (0.01%) from the hour prior. The hourly chart shows that EURNOK has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. 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)
EURNOK is down 743 pips (0.73%) since the day prior (opening today near 10.1257), marking the 5th consecutive day a decline has happened. Out of the 39 instruments in the Forex asset class, EURNOK ended up ranking 37th for the day in terms of price change. The price chart of EURNOK below illustrates.
EURNOK Technical Analysis
Coming into today the current price of EURNOK is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 1257.5 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. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone down 19 out of the past 30 days.