USD/NOK Down 46 Pips On 4 Hour Chart, Moves Down For the 6th Day In A Row; Pin Bar Pattern Appearing on Chart

USD/NOK 4 Hour Price Update

Updated March 27, 2020 12:52 AM GMT (08:52 PM EST)

USD/NOK is down 46 pips (0.04%) since the last 4 hour candle (opening the current 4 hour candle near 10.3994), marking the 4th candle in a row it has gone down. Relative to other instruments in the Forex asset class, USD/NOK ranked 19th the last 4 hour candle in terms of percentage price change.

USD/NOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/NOK is down 47 pips (0.05%) since the previous day (opening today near 10.3943), marking the 6th day in a row a decrease has occurred. Out of the 40 instruments in the Forex asset class, USD/NOK ended up ranking 23rd for the day in terms of price change. Here is a price chart of 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 8 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!