USDNOK Up 10 Pips in Last Hour; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated January 12, 2021 2:16 GMT)

At the time of this writing, USDNOK’s rate is up 0.1 pips (0.01%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as USDNOK has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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)

The back and forth price flow continues for USDNOK, which started today off at 8.53276, up 1286 pips 1.53% from yesterday. Compared to its peers in the Forex, USDNOK gave its buyers a return that ranked 2nd in terms of percentage change since yesterday. Here is a price chart of USDNOK.

USDNOK

USDNOK Technical Analysis

Coming into today USDNOK is now close to its 20 day averages, located at 8.5899 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days USDNOK’s price has gone down 9 them.