USD/NOK Up 122 Pips On Hourly Chart, 2 Day Down Streak Broken; in an Uptrend Over Past 90 Days
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
July 1, 2022 0:49 GMT
Over the past 88 days, USDNOK’s price has been in a clear uptrend, growing by about $0.02 per day.
Over the past 135 days, USDNOK’s price has been in a clear uptrend, growing by about $0.01 per day.
Over the past 24 months, USDNOK’s price has gone up $0.69.
USDNOK has a price of $9.8412, down 0.07% from its value 1 days prior.
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+ 500 – Internal server error
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
This is the 2nd straight hour usdnok has seen its price head up.
For additional context, note that price has gone up 8 out of the past 10 days.
Or to simplify this another way, note that out of the past 10 days usdnok’s price has gone up 7 them.
Compared to its peers in the forex, usdnok gave its buyers a return that ranked 4th in terms of percentage change since the previous day.
Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up.
It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe.
Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.