USD/NOK Up 331 Pips Over Past 4 Hours, Moves Down For the 4th Day In A Row; in a Downtrend Over Past 14 Days

USD/NOK 4 Hour Price Update

Updated May 21, 2020 05:08 PM GMT (01:08 PM EST)

USD/NOK entered the current 4 hour candle at 9.9497, up 331 pips (0.33%) from the last 4 hour candle. Out of the 37 instruments in the Forex asset class, USD/NOK ended up ranking 4th for the four-hour candle in terms of 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 previous day (opening today near 9.8971), marking the 4th day in a row a decline has happened. Compared to its peers in the Forex, USD/NOK gave its buyers a return that ranked 31st in terms of percentage change since the previous day. Below is a price chart of USD/NOK.

USD/NOK Technical Analysis

Notably, the current price of USD/NOK is sitting close to its 100 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 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. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone down 10 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!