USDNOK Down 562 Pips Over Past Hour, in a Downtrend Over Past 90 Days; is Inching Close to 20 Day Average

Hourly Update

(Last Updated September 9, 2020 15:14 GMT)

Currently, USDNOK’s rate is down -5.62 pips (-0.62%) from the hour prior. USDNOK has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them so that price is now turning below it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

USDNOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDNOK entered today at 8.91689, up 229 pips (0.26%) from the day prior. Compared to its peers in the Forex, USDNOK gave its buyers a return that ranked 7th in terms of percentage change since the day prior. Below is a price chart of USDNOK.

USDNOK

USDNOK Technical Analysis

Notably, the current price of USDNOK is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days USDNOK’s price has gone up 15 them.

The View From Around the Web

Not much commentary on USDNOK that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on tradingview.com that we thought you might enjoy.


Forex Frank is a forex analyst and market commentator with nearly two decades of experience in currency trading. Follow him on social media: Facebook | Twitter | Instagram