EURNOK Up 60 Pips in Last Hour, Moves Down For the 2nd Day In A Row; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated October 15, 2021 1:18 GMT)

At the time of this writing, EURNOK’s rate is up 0.6 pips (0.06%) from the hour prior. This is the 3rd hour in a row EURNOK has seen its price head up. 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 240 pips (0.24%) since the day prior (opening today near 9.84189), marking the 2nd day in a row a decline has happened. Relative to other instruments in the Forex asset class, EURNOK ranked 30th the day prior in terms of percentage price change. Below is a price chart of EURNOK.

EURNOK

EURNOK Technical Analysis

Notably, the current price of EURNOK is sitting close to its 20 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 20 day average, which is 1897.6 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 7 out of the past 10 days.