EURNOK Down 28 Pips Over Past Hour, 3 Day Up Streak Ended; Breaks Below 200 Day Average

Hourly Update

(Last Updated July 13, 2021 1:17 GMT)

Currently, EURNOK’s rate is down -0.28 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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, which opened today priced near 10.2959, is down 1109 pips 1.07% since the previous day, marking a reversal from the day prior — and the end of a 3 day positive run. Relative to other instruments in the Forex asset class, EURNOK ranked 37th the previous day in terms of percentage price change. The price chart of EURNOK below illustrates.

EURNOK

EURNOK Technical Analysis

Notably, EURNOK crossed below its 200 day moving average 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 200 day average, which is 649.4 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 10 days EURNOK’s price has gone up 7 them.