EUR/NOK Up 149 Pips On Hourly Chart, Entered Today Up For the 3rd Consecutive Day; Crosses 20 Day Moving Average

Hourly Update

(Last Updated November 10, 2022 1:49 GMT)

Currently, EURNOK’s rate is up 1.49 pips (0.14%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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 up 925 pips (0.9%) since the day prior (opening today near 10.3981), marking the 3rd consecutive day an increase has occurred. Compared to its peers in the Forex, EURNOK gave its buyers a return that ranked 4th in terms of percentage change since the day prior. Here is a price chart of EURNOK.

EURNOK

EURNOK Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURNOK crossed above its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. For additional context, note that price has gone up 15 out of the past 30 days.