AUD/NOK - 1H - Technical analysis published on 10/27/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
17%
39%
44%
My opinion
Bullish above 7.0409 NOK
My targets
7.0970 NOK (+0.0118)
7.1341 NOK (+0.0489)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 7.0409 NOK remains possible. It is advisable to trade AUD/NOK with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 7.0409 NOK. The next bullish objective for buyers is set at 7.0970 NOK. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 7.1341 NOK. If there is any crossing, the next objective would be the resistance located at 7.1860 NOK. PS: if there is a bearish break in the support located at 7.0409 NOK we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
Technical indicators are opposing the general bullish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
0.7
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Additional analysis
Quotes
The AUD/NOK rating is 7.0852 NOK. The price is lower by -0.01% since the last closing and was traded between 7.0820 NOK and 7.1227 NOK over the period. The price is currently at +0.05% from its lowest and -0.53% from its highest.7.0820
7.1227
7.0852
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of AUD/NOK indicates that the overall trend is bullish. The signals given by moving averages are 64.29% bullish. This bullish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
In fact, only 7 technical indicators out of 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.0127 | 7.0409 | 7.0783 | 7.0852 | 7.0970 | 7.1341 | 7.1860 |
| Change (%) | -1.02% | -0.63% | -0.10% | - | +0.17% | +0.69% | +1.42% |
| Change | -0.0725 | -0.0443 | -0.0069 | - | +0.0118 | +0.0489 | +0.1008 |
| Level | Major | Major | Minor | - | Intermediate | Intermediate | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.9838 | 7.0128 | 7.0492 | 7.0782 | 7.1146 | 7.1436 | 7.1800 |
| Camarilla | 7.0676 | 7.0736 | 7.0796 | 7.0856 | 7.0916 | 7.0976 | 7.1036 |
| Woodie | 6.9875 | 7.0147 | 7.0529 | 7.0801 | 7.1183 | 7.1455 | 7.1837 |
| Fibonacci | 7.0128 | 7.0378 | 7.0532 | 7.0782 | 7.1032 | 7.1186 | 7.1436 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.7681 | 6.8258 | 6.9042 | 6.9619 | 7.0403 | 7.0980 | 7.1764 |
| Camarilla | 6.9451 | 6.9576 | 6.9700 | 6.9825 | 6.9950 | 7.0075 | 7.0199 |
| Woodie | 6.7784 | 6.8310 | 6.9145 | 6.9671 | 7.0506 | 7.1032 | 7.1867 |
| Fibonacci | 6.8258 | 6.8778 | 6.9099 | 6.9619 | 7.0139 | 7.0460 | 7.0980 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.5841 | 6.6925 | 6.7856 | 6.8940 | 6.9871 | 7.0955 | 7.1886 |
| Camarilla | 6.8233 | 6.8418 | 6.8602 | 6.8787 | 6.8972 | 6.9156 | 6.9341 |
| Woodie | 6.5765 | 6.6887 | 6.7780 | 6.8902 | 6.9795 | 7.0917 | 7.1810 |
| Fibonacci | 6.6925 | 6.7695 | 6.8170 | 6.8940 | 6.9710 | 7.0185 | 7.0955 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 46.00 | |
| MACD (12,26,9): | 0.0031 | |
| Directional Movement: | -3.7518 | |
| AROON (14): | -28.5714 | |
| DEMA (21): | 7.1007 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.1203 | |
| Elder Ray (13): | -0.0086 | |
| Super Trend (3,10): | 7.0792 | |
| Zig ZAG (10): | 7.0849 | |
| VORTEX (21): | 1.0252 | |
| Stochastique (14,3,5): | 10.16 | |
| TEMA (21): | 7.0996 | |
| Williams %R (14): | -91.40 | |
| Chande Momentum Oscillator (20): | -0.0113 | |
| Repulse (5,40,3): | -0.2905 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0112 | |
| Courbe Coppock: | 0.19 |
| MA7: | 7.0406 | |
| MA20: | 6.9783 | |
| MA50: | 6.9199 | |
| MA100: | 6.9376 | |
| MAexp7: | 7.0957 | |
| MAexp20: | 7.0959 | |
| MAexp50: | 7.0876 | |
| MAexp100: | 7.0693 | |
| Price / MA7: | +0.63% | |
| Price / MA20: | +1.53% | |
| Price / MA50: | +2.39% | |
| Price / MA100: | +2.13% | |
| Price / MAexp7: | -0.15% | |
| Price / MAexp20: | -0.15% | |
| Price / MAexp50: | -0.03% | |
| Price / MAexp100: | +0.22% |
Quotes :
-
Real time data
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Forex
This member declared not having a position on this financial instrument or a related financial instrument.
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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