Forex Trend Analysis Report
Prepared for you on Tuesday, May 11, 2021.
US Dollar/Norwegian Krone (FOREX:USDNOK)
Bear Market Rally (-75) - USDNOK is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on USDNOK as it may be in the beginning of a reversal.
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 DOWN since Dec 16th, 2020 at 8.657045
The intermediate-term trend has been DOWN since Apr 14th, 2021 at 8.437100
The short-term trend has been UP since Apr 13th, 2021 at 8.532500
Smart Scan Analysis for USDNOK
Based on our trend formula, USDNOK is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).