USDNOK

(Last Updated May 28, 2020)

Hello! This is the news page for USDNOK. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

A trend/countertrend situation exists on USDNOK, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 day timeframe. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.

USDNOK Moving Averages

Nuances in the trend on USDNOK can be understood by observing the behavior of its moving averages. The 100 and 200 day averages suggest a bullish trend, as they are pointing upwards, while the 20 and 50 day averages are pointing downward, suggesting a bearish trend on those timeframes. This implies that the long-term trend — meaning going back over 3 months — is bullish, while the trend over the past month and a half is bearish.

Below is a chart showing USDNOK’s price with its moving averages.

As for correlation, Regarding USDNOK’s correlations over the past 7 days, it has been most correlated with EURUSD. EURUSD is the asset with which USDNOK has been most correlated with over the past two weeks as well, so this may be a structural correlation in the market. Alternatively, EURGBP has been the asset least correlated with USDNOK — but if we observe the prior two weeks, the asset least correlated with USDNOK has been GBPCHF. See the chart below to observe the recent price action in USDNOK versus those of assets it hasn’t been well correlated with.

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