EUR/NOK Up 120 Pips Over Past Hour, Moves Down For the 2nd Straight Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated November 23, 2022 2:22 GMT)

At the time of this writing, EURNOK’s rate is up 1.2 pips (0.12%) 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. Regarding the trend, note that the strongest trend exists on the 50 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 1022 pips (0.97%) since the previous day (opening today near 10.4044), marking the 2nd straight day a decrease has occurred. Out of the 39 instruments in the Forex asset class, EURNOK ended up ranking 38th for the day in terms of price change. Here is a price chart of EURNOK.

EURNOK

EURNOK Technical Analysis

Coming into today the current price of EURNOK is sitting close to its 20, 50 and 100 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 50 day average, which is 588.1 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days EURNOK’s price has gone up 8 them.