USD/NOK Up 180 Pips On Hourly Chart; Entered Today Up For the 5th Consecutive Day

Hourly Update

(Last Updated September 22, 2022 1:36 GMT)

At the time of this writing, USDNOK’s rate is up 1.8 pips (0.17%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as USDNOK has now gone up 8 of the past 10 hours. Regarding the trend, note that the strongest trend exists on the 100 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 up 338 pips (0.33%) since the day prior (opening today near 10.36565), marking the 5th consecutive day an increase has occurred. Out of the 39 instruments in the Forex asset class, USDNOK ended up ranking 5th for the day in terms of price change. The price chart of USDNOK below illustrates.

USDNOK

USDNOK Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days USDNOK’s price has gone up 19 them.