EUR/NOK Up 66 Pips Over Past Hour, 4 Day Down Streak Broken; Crosses 50 Day Moving Average

Hourly Update

(Last Updated December 28, 2021 1:42 GMT)

At the moment, EURNOK’s rate is up 0.66 pips (0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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)

After 4 down days, EURNOK snaps its streak, rising 256 pips (0.26%) over the past day to close at an exchange rate of 10.0086. Compared to its peers in the Forex, EURNOK gave its buyers a return that ranked 15th in terms of percentage change since yesterday. Let’s take a look at price chart of EURNOK.

EURNOK

EURNOK Technical Analysis

Notably, EURNOK crossed above its 50 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 50 day average, which is 130 pips away. Or to simplify this another way, note that out of the past 10 days EURNOK’s price has gone down 6 them.