USD/NOK Down 105 Pips in Last 4 Hours, Moves Down For the 4th Day In A Row; Pin Bar Pattern Appearing on Chart

USD/NOK 4 Hour Price Update

Updated May 21, 2020 12:48 AM GMT (08:48 PM EST)

USD/NOK is down 105 pips (0.11%) since the last 4 hour candle (opening the current 4 hour candle near 9.8993), marking the 4th candle in a row it has gone down. Relative to other instruments in the Forex asset class, USD/NOK ranked 34th the last 4 hour candle in terms of percentage price change.

USD/NOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/NOK is down 28 pips (0.03%) since the day prior (opening today near 9.8971), marking the 4th day in a row a decline has happened. Out of the 40 instruments in the Forex asset class, USD/NOK ended up ranking 31st for the day in terms of price change. Below is a price chart of USD/NOK.

USD/NOK Technical Analysis

Coming into today USD/NOK is now close to its 100 day averages, located at 9.983 respectively, and thus may be at a key juncture along those timeframes. 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. The closest is the 100 day average, which is 859.1 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 30 days USD/NOK’s price has gone down 19 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.