(Last Updated September 13, 2021 11:14 GMT)
Currently, USDNOK’s rate is down -1.76 pips (-0.2%) from the hour prior. This is the 3rd consecutive hour USDNOK has seen its price head down. 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 is down 73 pips (0.08%) since the previous day (opening today near 8.66526), marking the 2nd straight day a decline has happened. Out of the 39 instruments in the Forex asset class, USDNOK ended up ranking 28th for the day in terms of price change. Let’s take a look at price chart of USDNOK.
USDNOK Technical Analysis
Coming into today USDNOK is now close to its 20, 50, 100 and 200 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 100 day average, which is 831.3 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 10 days USDNOK’s price has gone up 5 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!