CAD/NOK - Daily - Technical analysis published on 02/10/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
61%
11%
28%
My opinion
Bullish above 7.4494 NOK
My targets
7.6770 NOK (+0.0924)
7.8757 NOK (+0.2911)
My analysis
CAD/NOK is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 7.4494 NOK. The next resistance located at 7.6770 NOK is the next bullish target to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 7.8757 NOK. After this resistance, buyers could then target 8.1980 NOK.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
5.5
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
CAD/NOK rating 7.5846 NOK. The price has increased by +0.21% since the last closing and was between 7.5641 NOK and 7.5886 NOK. This implies that the price is at +0.27% from its lowest and at -0.05% from its highest.7.5641
7.5886
7.5846
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 (1 year)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of CAD/NOK indicates that the overall trend is bullish. 71.43% of the signals given by moving averages are bullish. This bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The technical indicators are bullish. There is still some doubt about the price increase.
The Central Indicators scanner found no further results concerning independent technical indicators.
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.3433 | 7.4494 | 7.5625 | 7.5846 | 7.6770 | 7.8757 | 8.1980 |
| Change (%) | -3.18% | -1.78% | -0.29% | - | +1.22% | +3.84% | +8.09% |
| Change | -0.2413 | -0.1352 | -0.0221 | - | +0.0924 | +0.2911 | +0.6134 |
| Level | Intermediate | Major | Minor | - | Major | Major | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.3766 | 7.4564 | 7.5126 | 7.5924 | 7.6486 | 7.7284 | 7.7846 |
| Camarilla | 7.5314 | 7.5439 | 7.5563 | 7.5688 | 7.5813 | 7.5937 | 7.6062 |
| Woodie | 7.3648 | 7.4505 | 7.5008 | 7.5865 | 7.6368 | 7.7225 | 7.7728 |
| Fibonacci | 7.4564 | 7.5084 | 7.5405 | 7.5924 | 7.6444 | 7.6765 | 7.7284 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.2391 | 7.3188 | 7.4728 | 7.5525 | 7.7065 | 7.7862 | 7.9402 |
| Camarilla | 7.5625 | 7.5840 | 7.6054 | 7.6268 | 7.6482 | 7.6697 | 7.6911 |
| Woodie | 7.2763 | 7.3374 | 7.5100 | 7.5711 | 7.7437 | 7.8048 | 7.9774 |
| Fibonacci | 7.3188 | 7.4081 | 7.4632 | 7.5525 | 7.6418 | 7.6969 | 7.7862 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.9280 | 7.0720 | 7.2867 | 7.4307 | 7.6454 | 7.7894 | 8.0041 |
| Camarilla | 7.4028 | 7.4356 | 7.4685 | 7.5014 | 7.5343 | 7.5672 | 7.6000 |
| Woodie | 6.9634 | 7.0897 | 7.3221 | 7.4484 | 7.6808 | 7.8071 | 8.0395 |
| Fibonacci | 7.0720 | 7.2090 | 7.2937 | 7.4307 | 7.5677 | 7.6524 | 7.7894 |
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): | 58.71 | |
| MACD (12,26,9): | 0.0688 | |
| Directional Movement: | 8.8608 | |
| AROON (14): | 78.5714 | |
| DEMA (21): | 7.5976 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.4778 | |
| Elder Ray (13): | 0.0225 | |
| Super Trend (3,10): | 7.4639 | |
| Zig ZAG (10): | 7.5837 | |
| VORTEX (21): | 1.1106 | |
| Stochastique (14,3,5): | 65.38 | |
| TEMA (21): | 7.6480 | |
| Williams %R (14): | -40.57 | |
| Chande Momentum Oscillator (20): | 0.1894 | |
| Repulse (5,40,3): | -0.4012 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1086 | |
| Courbe Coppock: | 6.36 |
| MA7: | 7.6266 | |
| MA20: | 7.4800 | |
| MA50: | 7.3831 | |
| MA100: | 7.5052 | |
| MAexp7: | 7.5953 | |
| MAexp20: | 7.5150 | |
| MAexp50: | 7.4589 | |
| MAexp100: | 7.4667 | |
| Price / MA7: | -0.55% | |
| Price / MA20: | +1.40% | |
| Price / MA50: | +2.73% | |
| Price / MA100: | +1.06% | |
| Price / MAexp7: | -0.14% | |
| Price / MAexp20: | +0.93% | |
| Price / MAexp50: | +1.69% | |
| Price / MAexp100: | +1.58% |
Quotes :
-
Real time data
-
Forex
This member declared not having a position on this financial instrument or a related financial instrument.
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