USD/NOK Up 76 Pips On 4 Hour Chart, 2 Day Up Streak Snapped; Pin Bar Pattern Appearing on Chart

USD/NOK 4 Hour Price Update

Updated May 25, 2020 09:07 PM GMT (05:07 PM EST)

USD/NOK is up 76 pips (0.08%) since the previous 4 hours (opening the current 4 hour candle near 10.0567), marking the 2nd candle in a row it has gone up. Relative to other instruments in the Forex asset class, USD/NOK ranked 5th the previous 4 hours in terms of percentage price change.

USD/NOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for USD/NOK, which started today off at 9.9791, down 14 pips 0.01% from the previous day. Relative to other instruments in the Forex asset class, USD/NOK ranked 32nd the previous day in terms of percentage price change. Below is a price chart of USD/NOK.

USD/NOK Technical Analysis

Coming into today the current price of USD/NOK is sitting close to its 20 and 100 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 213.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 10 days USD/NOK’s price has gone down 6 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.