USDNOK Down 29 Pips in Last Hour, Tops All Forex; Pin Bar Pattern Appearing on Chart – CFD Trading

Hourly Update

(Last Updated April 21, 2021 23:16 GMT)

At the time of this writing, USDNOK’s rate is up 0.11 pips (0.01%) 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 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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, which opened today priced near 8.35709, is up 670 pips 0.81% since yesterday, marking a reversal from the day prior — and the end of a 6 day negative run. USDNOK outperformed all 39 assets in the Forex asset class yesterday. Congrats to its holders! Let’s take a look at price chart of USDNOK.

USDNOK

USDNOK Technical Analysis

Notably, the current price of USDNOK is sitting close to its 20, 50 and 100 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. Or to simplify this another way, note that out of the past 10 days USDNOK’s price has gone down 8 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

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