EUR/NOK Up 6 Pips On Hourly Chart, 3 Day Up Streak Snapped; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated September 22, 2021 1:50 GMT)

Currently, EURNOK’s rate is up 0.06 pips (0.01%) from the hour prior. The hourly chart shows that EURNOK has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend 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, which opened today priced near 10.17127, is down 422 pips 0.41% since the day prior, 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 28th the day prior in terms of percentage price change. Here is a price chart of EURNOK.

EURNOK

EURNOK Technical Analysis

Notably, EURNOK is now close to its 20, 50, 100 and 200 day averages, located at 10.2483, 10.3685, 10.2597 and 10.2479 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 766.3 pips away. Volatility for EURNOK has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. 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 down 18 out of the past 30 days.