EUR/NOK Up 43 Pips On Hourly Chart, Entered Today Down For the 2nd Consecutive Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated September 23, 2021 2:2 GMT)

At the time of this writing, EURNOK’s rate is up 0.43 pips (0.04%) from the hour prior. This is the 2nd straight hour EURNOK has seen its price head up. Regarding the trend, note that the strongest trend 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 down 475 pips (0.47%) since yesterday (opening today near 10.1238), marking the 2nd consecutive day a decrease has occurred. Relative to other instruments in the Forex asset class, EURNOK ranked 37th yesterday in terms of percentage price change. Below is a price chart of EURNOK.

EURNOK

EURNOK Technical Analysis

The first thing we should note is that EURNOK is now close to its 20, 50, 100 and 200 day averages, located at 10.2359, 10.3642, 10.2608 and 10.2455 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 20 day average, which is 1120.9 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days EURNOK’s price has gone down 18 them.