USD/NOK Down 219 Pips Over Past 4 Hours; Underperforms All Forex

USD/NOK 4 Hour Price Update

Updated June 29, 2020 09:10 PM GMT (05:10 PM EST)

USD/NOK entered the current 4 hour candle at 9.686, down 219 pips (0.23%) from the last 4 hour candle. Those trading within the Forex asset class should know that USD/NOK was the worst performer in the class.

USD/NOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/NOK entered today at 9.64964, down 555 pips (0.57%) from the previous day. On a relative basis, USD/NOK was the worst performer out of all 40 of the assets in the Forex asset class. Below is a price chart of USD/NOK.

USD/NOK Technical Analysis

The first thing we should note is that USD/NOK is now close to its 20, 50 and 200 day averages, located at 9.5222, 9.8068 and 9.5923 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 200 day average, which is 573.6 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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days USD/NOK’s price has gone up 5 them.