EURNOK Down 41 Pips in Last Hour, Entered Today Up For the 5th Consecutive Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated July 19, 2021 3:26 GMT)

Currently, EURNOK’s rate is down -0.41 pips (-0.04%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURNOK has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 is up 295 pips (0.28%) since yesterday (opening today near 10.44931), marking the 5th consecutive day it has gone up. Compared to its peers in the Forex, EURNOK gave its buyers a return that ranked 3rd in terms of percentage change since yesterday. Here is a price chart of EURNOK.

EURNOK

EURNOK Technical Analysis

Notably, EURNOK is now close to its 20 and 200 day averages, located at 10.2572 and 10.3473 respectively, and thus may be at a key juncture along those timeframes. 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 1019.9 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. 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 8 them.