EURNOK Up 36 Pips Over Past Hour, Moves Down For the 3rd Consecutive Day; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated January 15, 2021 3:19 GMT)

Currently, EURNOK’s rate is up 0.36 pips (0.03%) from the hour prior. EURNOK has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

EURNOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURNOK is down 45 pips (0.04%) since the previous day (opening today near 10.2793), marking the 3rd consecutive day a decline has happened. Out of the 40 instruments in the Forex asset class, EURNOK ended up ranking 20th for the day in terms of price change. Below is a price chart of EURNOK.

EURNOK

EURNOK Technical Analysis

Notably, the current price of EURNOK is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 19 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.