CAD/NOK - 1H - Technical analysis published on 04/09/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
44%
17%
39%
My opinion
Bearish under 7.8744 NOK
My targets
7.8506 NOK (-0.0137)
7.8307 NOK (-0.0336)
My analysis
The bearish basic trend is very strong on CAD/NOK but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 7.8744 NOK. Crossing the first support at 7.8506 NOK would be a sign of a further potential price plummet. Sellers would then use the next support located at 7.8307 NOK as an objective. Crossing it would then enable sellers to target 7.7288 NOK. Caution, a return to above the resistance located at 7.8744 NOK would be a sign of a possible consolidation phase of the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
4.1
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Additional analysis
Quotes
CAD/NOK rating 7.8643 NOK. On the day, this instrument lost -0.03% with the lowest point at 7.8434 NOK and the highest point at 7.8744 NOK. The deviation from the price is +0.27% for the low point and -0.13% for the high point.7.8434
7.8744
7.8643
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 LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of CAD/NOK in 1H shows a overall strongly bearish trend. 85.71% of the signals given by moving averages are bearish. The slightly bearish signals from short-term moving averages show that the overall trend is slowing down. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators shows a slightly bullish signal.
No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
Near horizontal support
Type : Bullish
Timeframe : 1 hour
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Bullish harami
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.7288 | 7.8307 | 7.8506 | 7.8643 | 7.8744 | 7.9411 | 8.0376 |
| Change (%) | -1.72% | -0.43% | -0.17% | - | +0.13% | +0.98% | +2.20% |
| Change | -0.1355 | -0.0336 | -0.0137 | - | +0.0101 | +0.0768 | +0.1733 |
| Level | Minor | Intermediate | Intermediate | - | Major | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.7751 | 7.8129 | 7.8399 | 7.8777 | 7.9047 | 7.9425 | 7.9695 |
| Camarilla | 7.8492 | 7.8551 | 7.8611 | 7.8670 | 7.8729 | 7.8789 | 7.8848 |
| Woodie | 7.7698 | 7.8102 | 7.8346 | 7.8750 | 7.8994 | 7.9398 | 7.9642 |
| Fibonacci | 7.8129 | 7.8376 | 7.8529 | 7.8777 | 7.9024 | 7.9177 | 7.9425 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.6132 | 7.7453 | 7.8199 | 7.9520 | 8.0266 | 8.1587 | 8.2333 |
| Camarilla | 7.8377 | 7.8566 | 7.8756 | 7.8945 | 7.9135 | 7.9324 | 7.9513 |
| Woodie | 7.5845 | 7.7309 | 7.7912 | 7.9376 | 7.9979 | 8.1443 | 8.2046 |
| Fibonacci | 7.7453 | 7.8243 | 7.8730 | 7.9520 | 8.0310 | 8.0797 | 8.1587 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.4125 | 7.5476 | 7.7667 | 7.9018 | 8.1209 | 8.2560 | 8.4751 |
| Camarilla | 7.8884 | 7.9209 | 7.9533 | 7.9858 | 8.0183 | 8.0507 | 8.0832 |
| Woodie | 7.4545 | 7.5686 | 7.8087 | 7.9228 | 8.1629 | 8.2770 | 8.5171 |
| Fibonacci | 7.5476 | 7.6829 | 7.7665 | 7.9018 | 8.0371 | 8.1207 | 8.2560 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 48.55 | |
| MACD (12,26,9): | -0.0017 | |
| Directional Movement: | -13.1068 | |
| AROON (14): | 57.1429 | |
| DEMA (21): | 7.8614 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.8474 | |
| Elder Ray (13): | -0.0002 | |
| Super Trend (3,10): | 7.8801 | |
| Zig ZAG (10): | 7.8650 | |
| VORTEX (21): | 0.9977 | |
| Stochastique (14,3,5): | 73.15 | |
| TEMA (21): | 7.8654 | |
| Williams %R (14): | -30.10 | |
| Chande Momentum Oscillator (20): | -0.0001 | |
| Repulse (5,40,3): | 0.0255 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0060 | |
| Courbe Coppock: | 0.15 |
| MA7: | 7.9346 | |
| MA20: | 7.9036 | |
| MA50: | 7.8439 | |
| MA100: | 7.8281 | |
| MAexp7: | 7.8651 | |
| MAexp20: | 7.8648 | |
| MAexp50: | 7.8746 | |
| MAexp100: | 7.8958 | |
| Price / MA7: | -0.89% | |
| Price / MA20: | -0.50% | |
| Price / MA50: | +0.26% | |
| Price / MA100: | +0.46% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | -0.01% | |
| Price / MAexp50: | -0.13% | |
| Price / MAexp100: | -0.40% |
Quotes :
-
Real time data
-
Forex
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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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