USDNOK Up 71 Pips On Hourly Chart, Moves Down For the 3rd Straight Day; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated January 7, 2021 2:15 GMT)

Currently, USDNOK’s rate is up 0.71 pips (0.08%) 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. 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

USDNOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDNOK is down 594 pips (0.7%) since the day prior (opening today near 8.40454), marking the 3rd straight day a decrease has occurred. Relative to other instruments in the Forex asset class, USDNOK ranked 37th the day prior 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 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 USDNOK’s price has gone down 10 them.