USD/NOK Up 32 Pips Over Past Hour, Moves Up For the 4th Straight Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated November 15, 2021 1:35 GMT)

At the time of this writing, USDNOK’s rate is up 0.32 pips (0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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 64 pips (0.07%) since the previous day (opening today near 8.68406), marking the 4th straight day an upward move has occurred. Compared to its peers in the Forex, USDNOK gave its buyers a return that ranked 17th in terms of percentage change since the previous day. Here is a price chart of USDNOK.

USDNOK

USDNOK Technical Analysis

Notably, USDNOK is now close to its 50, 100 and 200 day averages, located at 8.5539, 8.6721 and 8.5436 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 119.8 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone up 6 out of the past 10 days.