USD/NOK Down 4 Pips On Hourly Chart; Entered Today Up For the 6th Consecutive Day

Hourly Update

(Last Updated September 23, 2022 1:37 GMT)

At the time of this writing, USDNOK’s rate is down -0.04 pips (0%) 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. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

USDNOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDNOK is up 347 pips (0.34%) since the previous day (opening today near 10.4004), marking the 6th consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, USDNOK ranked 10th the previous day in terms of percentage price change. Let’s take a look at price chart of USDNOK.

USDNOK

USDNOK Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days USDNOK’s price has gone up 7 them.