USDNOK

(Last Updated July 10, 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

On USDNOK, there is currently a downtrend on the 90 and 14 day timeframes.

USDNOK Moving Averages

Nuances in the trend on USDNOK can be understood by observing the behavior of its moving averages. Of the 20, 50, 100, and 200 day averages — three of them (all but the 200) — are bearish, suggesting the trend is generally downward, save for a spike that occurred about 6 months ago.

The chart below illustrates.

Regarding USDNOK’s correlations over the past 7 days, it has been most correlated with AUDJPY. Over the past 14 days, however, EURNOK is the asset most correlated to USDNOK. On the flip side, EURCAD has been the asset least correlated with USDNOK — but if we observe the prior two weeks, CADCHF has been the asset least correlated with USDNOK. 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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The View From the Weekly Timeframe

At the time of this writing, USDNOK’s rate is up 0.0031 (0.03%) from the week prior. Moreover, note that this is a reversal of the price action on the previous weekly, in which price moved down. As for the trend on the weekly timeframe, we see the clearest trend on the 10 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on USDNOK. Given that we see downtrend on the 10 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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. The weekly chart below shows USDNOK’s price action over the past year.