(Last Updated November 4, 2021 3:14 GMT)
At the time of this writing, USDNOK’s rate is up 1.2 pips (0.14%) from the hour prior. This is the 2nd hour in a row USDNOK has seen its price head 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)
USDNOK entered today at 8.49339, down 317 pips (0.37%) from yesterday. Out of the 39 instruments in the Forex asset class, USDNOK ended up ranking 36th for the day in terms of price change. Here is a price chart of USDNOK.
USDNOK Technical Analysis
Coming into today USDNOK is now close to its 20, 50, 100 and 200 day averages, located at 8.4364, 8.5694, 8.6693 and 8.5432 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 200 day average, which is 498 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days USDNOK’s price has gone down 9 them.