USD/NOK Up 17 Pips Over Past Hour; Entered Today Up For the 3rd Consecutive Day
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.
USDNOK
(Last Updated April 15, 2021)
Hello! This is the news page for USDNOK. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for USDNOK
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| United States Continuing Jobless Claims | 03/Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 3700K | 3731K |
| United States Initial Jobless Claims | 10/Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 700K | 576K |
| United States NY Empire State Manufacturing Index | Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 19.5 | 26.3 |
| United States Retail Sales MoM | Mar 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 5.9% | 9.8% |
| United States Retail Sales Ex Autos MoM | Mar 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 5% | 8.4% |
The Trend
If we observe the 90 and 14 day timeframes, we see a downtrend in place for USDNOK.
USDNOK Moving Averages
USDNOK’s moving averages suggest the trend on a number of time horizons is bearish.
Below is a chart showing USDNOK’s price with its moving averages.
In terms of correlations over the past week for USDNOK, it has demonstrated the strongest correlation with USDZAR. Over the past 14 days, however, the asset showing the strongest correlation to USDNOK is EURUSD. Alternatively, the asset least correlated with USDNOK over the past week has been CHFJPY, but over the past two weeks, the asset least correlated with USDNOK has been NZDJPY. The chart below illustrates USDNOK against its least correlated assets.
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The View From the Weekly Timeframe
At the moment, USDNOK’s rate is down -10.17 pips (-1.2%) from the week prior. Moreover, note that this is the 3rd week in a row USDNOK has seen its price head down. As for the trend on the weekly timeframe, we see the clearest trend on the 20 week timeframe. Looking further out, the moving averages on the weekly 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. The weekly chart below shows USDNOK’s price action over the past year.
USDNOK: The Monthly View
Monthly trend: strongest on the 60 month timeframe.
USDNOK Up 487 Pips in Last Hour, Tops All Forex; Makes Big Move Relative to Past Month
The closest is the 100 day average, which is 559.7 pips away.
USDNOK Up 24 Pips in Last Hour, Outperforms All Forex; Makes Big Move Relative to Past Month
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.
USDNOK Up 16 Pips On Hourly Chart, Breaks Above 20 Day Average; Pin Bar Pattern Appearing on Chart
Of note is that the 200 hour changed directions on usdnok; it is now pointing down.
USDNOK Up 126 Pips On Hourly Chart; Breaks Below 20 and 50 Day Averages
Relative to other instruments in the forex asset class, usdnok ranked 38th yesterday in terms of percentage price change.
USDNOK Up 9 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Breaks Above 20 and 50 Day Averages
This is the 3rd straight hour usdnok has seen its price head up.
USDNOK Down 4 Pips in Last Hour, Came Into Today Up For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart
Relative to other instruments in the forex asset class, usdnok ranked 13th yesterday in terms of percentage price change.
USDNOK Up 55 Pips On Hourly Chart, Came Into Today Up For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart
Or to simplify this another way, note that out of the past 14 days usdnok’s price has gone up 7 them.
USDNOK Up 67 Pips Over Past Hour, 2 Day Down Streak Snapped; Pin Bar Pattern Appearing on Chart
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down.
USDNOK Down 190 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Crosses 20 and 50 Day Moving Averages
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.