The closest is the 20 day average, which is 61.9 pips away.
It’s been a feast for bulls operating on an hourly timeframe, as usdnok has now gone up 4 of the past 5 hours.
Compared to its peers in the forex, usdnok gave its buyers a return that ranked 11th in terms of percentage change since the day prior.
Volatility for usdnok has been contracting over the past two weeks relative to volatility over the past month.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
Price action traders may also wish to note that we see a doji candlestick pattern on usdnok.
It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 and 14 day timeframes.
The closest is the 100 day average, which is 831.3 pips away.
Interestingly, a trend in the other direction exists on the 14 and 30 day timeframes, where price is headed down.
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down.