USD/NOK Down 26 Pips On 4 Hour Chart, Moves Down For the 2nd Day In A Row; Breaks Below 200 Day Average

USD/NOK 4 Hour Price Update

Updated June 23, 2020 01:07 PM GMT (09:07 AM EST)

USD/NOK is down 26 pips (0.03%) since the last 4 hour candle (opening the current 4 hour candle near 9.5044), marking the 2nd candle in a row it has gone down. Relative to other instruments in the Forex asset class, USD/NOK ranked 24th the last 4 hour candle in terms of percentage price change.

USD/NOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/NOK is down 118 pips (0.12%) since the previous day (opening today near 9.5794), marking the 2nd day in a row a decline has happened. Out of the 40 instruments in the Forex asset class, USD/NOK ended up ranking 36th for the day in terms of price change. Below is a price chart of USD/NOK.

USD/NOK Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USD/NOK crossed below its 200 day moving average yesterday. 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 29.1 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 30 and 90 day timeframes. Or to simplify this another way, note that out of the past 30 days USD/NOK’s price has gone down 17 them.