The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
Or to simplify this another way, note that out of the past 14 days usd/nok’s price has gone up 7 them.
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up.
The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 13.49% from the day prior, and up 112.13% from the same day the week before.
Volatility for usd/nok has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note.
The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 4.38% from the day prior, but up 4.39% from the same day the week before.
Out of the 40 instruments in the forex asset class, usd/nok ended up ranking 2nd for the day in terms of day-over-day price change.
The closest is the 20 day average, which is 770.8 pips away.
Or to simplify this another way, note that out of the past 30 days usd/nok’s price has gone up 18 them.
The closest is the 20 day average, which is 1050.9 pips away.