USD/NOK Down 78 Pips On 4 Hour Chart, Came Into Today Down For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart

USD/NOK 4 Hour Price Update

Updated July 02, 2020 01:17 AM GMT (09:17 PM EST)

The back and forth price flow continues for USD/NOK, which started the current 4 hour candle off at 9.5116, down 78 pips 0.08% from the last 4 hour candle. Compared to its peers in the Forex, USD/NOK gave its buyers a return that ranked 28th in terms of percentage change since the last 4 hour candle.

USD/NOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/NOK is down 27 pips (0.03%) since yesterday (opening today near 9.51017), marking the 3rd day in a row a decline has happened. Out of the 40 instruments in the Forex asset class, USD/NOK ended up ranking 30th for the day in terms of price change. The price chart of USD/NOK below illustrates.

USD/NOK Technical Analysis

Notably, the current price of USD/NOK is sitting close to its 20, 50 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 20 day average, which is 717.5 pips away. 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 10 days USD/NOK’s price has gone down 7 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!