Forex Trend Analysis Report
Prepared for you on Tuesday, June 2, 2020.
US Dollar/Norwegian Krone (FOREX:USDNOK)
Crossroads (-60) - USDNOK is struggling to move into a solid trend. Beware of choppy markets and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid USDNOK?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDNOK.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDNOK
The long-term trend has been UP since Feb 3rd, 2020 at 9.245560
The intermediate-term trend has been DOWN since May 11th, 2020 at 10.178285
The short-term trend has been DOWN since May 26th, 2020 at 9.905900
Smart Scan Analysis for USDNOK
Based on our trend formula, USDNOK is rated as a -60 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).