EUR/NOK Up 92 Pips On Hourly Chart, 2 Day Down Streak Snapped; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated June 23, 2022 1:40 GMT)

Currently, EURNOK’s rate is up 0.92 pips (0.09%) 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 entered today at 10.4694, up 1047 pips (1.01%) from the previous day. Relative to other instruments in the Forex asset class, EURNOK ranked 3rd the previous day 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 day averages, located at 10.2459 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 2235.4 pips away. 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 30 days EURNOK’s price has gone up 16 them.