USDNOK Up 143 Pips in Last Hour, 6 Day Down Streak Broken; 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 down 12 them.
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 177 Pips Over Past Hour, 6 Day Down Streak Ended; But Still in a Downtrend Over Past 14 Days
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
USDNOK Up 19 Pips in Last Hour, Underperforms All Forex; Entered Today Down For the 6th Consecutive Day
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.
USDNOK Up 115 Pips Over Past Hour, Entered Today Down For the 5th Consecutive Day; in a Downtrend Over Past 14 Days
The closest is the 50 day average, which is 1287.2 pips away.
USDNOK Up 50 Pips Over Past Hour, Moves Down For the 4th Straight Day; in a Downtrend Over Past 14 Days
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 142 Pips Over Past Hour, Moves Down For the 3rd Straight Day; in a Downtrend Over Past 14 Days
Compared to its peers in the forex, usdnok gave its buyers a return that ranked 37th in terms of percentage change since the previous day.
USDNOK Down 21 Pips Over Past Hour, Came Into Today Down For the 2nd Straight Day; Price Base in Formation Over Past 30 Days
Compared to its peers in the forex, usdnok gave its buyers a return that ranked 23rd in terms of percentage change since the previous day.
USDNOK Up 48 Pips On Hourly Chart, in a Downtrend Over Past 14 Days; Price Base in Formation Over Past 30 Days
The closest is the 50 day average, which is 294.3 pips away.
USDNOK Up 21 Pips On Hourly Chart, 6 Day Down Streak Broken; Price Base in Formation Over Past 30 Days
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
USDNOK Up 12 Pips Over Past Hour, Entered Today Down For the 6th Consecutive Day; in a Downtrend Over Past 14 Days
Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.