(Last Updated November 19, 2021 1:39 GMT)
At the moment, USDNOK’s rate is down -0.08 pips (-0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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)
The choppiness in the recent daily price action of USDNOK continues; to start today, it came in at a price of 8.81122, up 735 pips (0.84%) since yesterday. Compared to its peers in the Forex, USDNOK gave its buyers a return that ranked 4th in terms of percentage change since yesterday. Let’s take a look at price chart of USDNOK.
USDNOK Technical Analysis
Coming into today USDNOK is now close to its 100 day averages, located at 8.679 respectively, and thus may be at a key juncture along those timeframes. 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 1321.8 pips away. The clearest trend exists on the 14 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 90 day timeframe. Or to simplify this another way, note that out of the past 14 days USDNOK’s price has gone up 9 them.