CAD/NOK - 1H - Technical analysis published on 12/17/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
61%
6%
33%
My opinion
Bearish under 7.8757 NOK
My targets
7.7868 NOK (-0.0630)
7.7079 NOK (-0.1419)
My analysis
Has the basic bearish 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 bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 7.8757 NOK remains possible. It is advisable to trade CAD/NOK with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 7.8757 NOK. The next bearish objective for sellers is set at 7.7868 NOK. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 7.7079 NOK. In case of crossing, the next objective would be the support located at 7.6471 NOK. PS: if there is a bullish break in the resistance located at 7.8757 NOK we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
Technical indicators are opposing the general bearish 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 CAD/NOK rating is 7.8498 NOK. The price registered an increase of +0.42% on the session and was traded between 7.8178 NOK and 7.8532 NOK over the period. The price is currently at +0.41% from its lowest and -0.04% from its highest.7.8178
7.8532
7.8498
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by CAD/NOK:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of CAD/NOK in 1H shows an overall bearish trend. 71.43% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 11 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
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 | 7.6471 | 7.7079 | 7.7868 | 7.8498 | 7.8757 | 7.9366 | 8.0179 |
| Change (%) | -2.58% | -1.81% | -0.80% | - | +0.33% | +1.11% | +2.14% |
| Change | -0.2027 | -0.1419 | -0.0630 | - | +0.0259 | +0.0868 | +0.1681 |
| Level | Minor | Minor | Major | - | Major | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.6817 | 7.7354 | 7.7760 | 7.8297 | 7.8703 | 7.9240 | 7.9646 |
| Camarilla | 7.7908 | 7.7994 | 7.8081 | 7.8167 | 7.8253 | 7.8340 | 7.8426 |
| Woodie | 7.6753 | 7.7321 | 7.7696 | 7.8264 | 7.8639 | 7.9207 | 7.9582 |
| Fibonacci | 7.7354 | 7.7714 | 7.7936 | 7.8297 | 7.8657 | 7.8879 | 7.9240 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.3908 | 7.5899 | 7.7033 | 7.9024 | 8.0158 | 8.2149 | 8.3283 |
| Camarilla | 7.7308 | 7.7594 | 7.7881 | 7.8167 | 7.8454 | 7.8740 | 7.9026 |
| Woodie | 7.3480 | 7.5685 | 7.6605 | 7.8810 | 7.9730 | 8.1935 | 8.2855 |
| Fibonacci | 7.5899 | 7.7093 | 7.7830 | 7.9024 | 8.0218 | 8.0955 | 8.2149 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.3486 | 7.5503 | 7.7619 | 7.9636 | 8.1752 | 8.3769 | 8.5885 |
| Camarilla | 7.8598 | 7.8977 | 7.9356 | 7.9735 | 8.0114 | 8.0493 | 8.0872 |
| Woodie | 7.3536 | 7.5528 | 7.7669 | 7.9661 | 8.1802 | 8.3794 | 8.5935 |
| Fibonacci | 7.5503 | 7.7082 | 7.8057 | 7.9636 | 8.1215 | 8.2190 | 8.3769 |
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): | 53.74 | |
| MACD (12,26,9): | -0.0061 | |
| Directional Movement: | 7.0315 | |
| AROON (14): | 14.2857 | |
| DEMA (21): | 7.8216 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.8078 | |
| Elder Ray (13): | 0.0174 | |
| Super Trend (3,10): | 7.8554 | |
| Zig ZAG (10): | 7.8508 | |
| VORTEX (21): | 1.0208 | |
| Stochastique (14,3,5): | 63.27 | |
| TEMA (21): | 7.8382 | |
| Williams %R (14): | -34.89 | |
| Chande Momentum Oscillator (20): | 0.0337 | |
| Repulse (5,40,3): | 0.2080 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0222 | |
| Courbe Coppock: | 0.08 |
| MA7: | 7.9494 | |
| MA20: | 7.9249 | |
| MA50: | 7.9897 | |
| MA100: | 7.9247 | |
| MAexp7: | 7.8366 | |
| MAexp20: | 7.8342 | |
| MAexp50: | 7.8701 | |
| MAexp100: | 7.9210 | |
| Price / MA7: | -1.25% | |
| Price / MA20: | -0.95% | |
| Price / MA50: | -1.75% | |
| Price / MA100: | -0.95% | |
| Price / MAexp7: | +0.17% | |
| Price / MAexp20: | +0.20% | |
| Price / MAexp50: | -0.26% | |
| Price / MAexp100: | -0.90% |
Quotes :
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Real time data
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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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