USD/NOK Up 100 Pips in Last 4 Hours, Moves Down For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart

USD/NOK 4 Hour Price Update

Updated July 07, 2020 05:07 AM GMT (01:07 AM EST)

USD/NOK entered the current 4 hour candle at 9.398, up 100 pips (0.11%) from the last 4 hour candle. Compared to its peers in the Forex, USD/NOK gave its buyers a return that ranked 6th in terms of percentage change since the last 4 hour candle.

USD/NOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/NOK is down 55 pips (0.06%) since yesterday (opening today near 9.38669), marking the 2nd day in a row it has gone down. Compared to its peers in the Forex, USD/NOK gave its buyers a return that ranked 39th in terms of percentage change since yesterday. Here is a price chart of USD/NOK.

USD/NOK Technical Analysis

Notably, the current price of USD/NOK is sitting close to its 20 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 20 day average, which is 1732.8 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days USD/NOK’s price has gone down 9 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.