(Last Updated September 15, 2021 1:14 GMT)
At the moment, 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. As for the trend on the hourly timeframe, we see the clearest trend 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 down 261 pips (0.3%) since the day prior (opening today near 8.6392), marking the 3rd day in a row a decrease has occurred. Out of the 39 instruments in the Forex asset class, USDNOK ended up ranking 32nd for the day in terms of price change. Here is a price chart of USDNOK.
USDNOK Technical Analysis
Coming into today the current price of USDNOK is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 100 day average, which is 536 pips away. Volatility for USDNOK 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 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 and 14 day timeframes. For additional context, note that price has gone down 8 out of the past 14 days.