EUR/NOK Up 14 Pips in Last Hour, 2 Day Down Streak Broken; Crosses 50 and 200 Day Moving Averages

Hourly Update

(Last Updated September 14, 2022 1:39 GMT)

At the moment, EURNOK’s rate is up 0.14 pips (0.01%) from the hour prior. This is the 2nd hour in a row EURNOK has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend 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 entered today at 10.0641, up 1025 pips (1.03%) from yesterday. Compared to its peers in the Forex, EURNOK gave its buyers a return that ranked 8th in terms of percentage change since yesterday. Here is a price chart of EURNOK.

EURNOK

EURNOK Technical Analysis

First things first: EURNOK crossed above its 50 and 200 day moving averages yesterday. 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 274.5 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone up 6 out of the past 10 days.