USD/NOK Up 14 Pips On 4 Hour Chart, Came Into Today Up For the 2nd Day In A Row; in a Downtrend Over Past 90 Days

USD/NOK 4 Hour Price Update

Updated July 29, 2020 01:16 AM GMT (09:16 PM EST)

USD/NOK is up 14 pips (0.02%) since the previous 4 hours (opening the current 4 hour candle near 9.1266), marking the 2nd candle in a row it has gone up. Relative to other instruments in the Forex asset class, USD/NOK ranked 20th the previous 4 hours in terms of percentage price change.

USD/NOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/NOK is up 109 pips (0.12%) since the day prior (opening today near 9.11779), marking the 2nd day in a row it has gone up. Compared to its peers in the Forex, USD/NOK gave its buyers a return that ranked 8th in terms of percentage change since the day prior. Below is a price chart of USD/NOK.

USD/NOK

USD/NOK Technical Analysis

The first thing we should note is that USD/NOK is now close to its 20 day moving averages, which may act as price barrier for the asset. 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 1536.8 pips away. Volatility for USD/NOK has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down 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. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDNOK; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Tp = 8.95Buyers exhausted on wickstrade opened earlier on red line