USDNOK Up 25 Pips On Hourly Chart; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated September 8, 2021 0:14 GMT)

Currently, USDNOK’s rate is up 0.25 pips (0.03%) from the hour prior. USDNOK has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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)

The back and forth price flow continues for USDNOK, which started today off at 8.6559, down 92 pips 0.11% from the day prior. Compared to its peers in the Forex, USDNOK gave its buyers a return that ranked 25th in terms of percentage change since the day prior. The price chart of USDNOK below illustrates.

USDNOK

USDNOK Technical Analysis

The first thing we should note is that the current price of USDNOK is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone down 6 out of the past 10 days.