USDNOK

(Last Updated September 22, 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

As for trends on USDNOK, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to sell for those interested in playing the longer term trend.

USDNOK Moving Averages

Nuances in the trend on USDNOK can be understood by observing the behavior of its moving averages. The 20 and 200 day averages suggest a bullish trend, as they are pointing upwards, in contrast to the downward-facing 50 and 100 day averages that imply a bearish trend. Moreover, it should also be noted that the 200 SMA just turned bullish today.

The chart below illustrates.

Regarding USDNOK’s correlations over the past 7 days, it has been most correlated with EURNOK. USDNOK has been most correlated with EURNOK over the past 14 days also, so this may be a recurring pattern. On the flip side, the asset least correlated with USDNOK over the past week has been NZDUSD, but over the past two weeks, USDZAR has been the asset least correlated with USDNOK. The chart below illustrates USDNOK against its least correlated assets.

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The View From the Weekly Timeframe

Currently, USDNOK’s rate is up 0.1689 (1.86%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as USDNOK has now gone up 4 of the past 5 weeks. As for the trend on the weekly timeframe, we see the clearest trend on the 5 week timeframe. Of note is that the 50 week changed directions on USDNOK; it is now pointing up. Looking further out, the moving averages on the weekly timeframe suggest a bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. USDNOK’s weekly price action over the past 52 weeks can be seen via the chart below.