USD/NOK Up 326 Pips in Last 4 Hours, Came Into Today Down For the 3rd Day In A Row; in a Downtrend Over Past 90 Days

USD/NOK 4 Hour Price Update

Updated August 06, 2020 09:07 AM GMT (05:07 AM EST)

USD/NOK, which opened the current 4 hour candle priced near 8.9753, is up 326 pips 0.36% since the last 4 hour candle, marking a reversal from the candle prior — and the end of a 7 four-hour candle negative run. 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 26 pips (0.03%) since yesterday (opening today near 8.94283), marking the 3rd day in a row it has gone down. Relative to other instruments in the Forex asset class, USD/NOK ranked 36th yesterday in terms of percentage price change. Here is a price chart of USD/NOK.


USD/NOK Technical Analysis

Notably, USD/NOK is now close to its 20 day moving averages, which may act as price barrier for the asset. 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 1894.8 pips away. Volatility for USD/NOK has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 5 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.