CAD/NOK - 1H - Technical analysis published on 12/20/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Slightly bearish
Technical indicators
83%
6%
11%
My opinion
Bullish above 7.6914 NOK
My targets
7.7868 NOK (+0.0398)
7.8757 NOK (+0.1287)
My analysis
The current short-term bullish trend is expected to quickly reset the neutral or bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for CAD/NOK as long as the price remains well above 7.6914 NOK. The buyers' bullish objective is set at 7.7868 NOK. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 7.8757 NOK. If there is any crossing, the next objective would be the resistance located at 7.9366 NOK. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 7.7868 NOK. On this resistance, against the trend traders who would like to go short on CAD/NOK with a bearish signal from their trading strategy, should not hesitate to act.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
2.9
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Additional analysis
Quotes
The CAD/NOK price is 7.7470 NOK. The price has increased by +0.60% since the last closing with the lowest point at 7.6898 NOK and the highest point at 7.7552 NOK. The deviation from the price is +0.74% for the low point and -0.11% for the high point.7.6898
7.7552
7.7470
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CAD/NOK chart shows a slightly bearish trend. 57.14% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages could quickly lead to a reversal of the trend. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 15 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
Williams %R indicator is overbought : over -20
Type : Neutral
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 resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.5765 | 7.6471 | 7.6914 | 7.7470 | 7.7868 | 7.8757 | 7.9366 |
| Change (%) | -2.20% | -1.29% | -0.72% | - | +0.51% | +1.66% | +2.45% |
| Change | -0.1705 | -0.0999 | -0.0556 | - | +0.0398 | +0.1287 | +0.1896 |
| Level | Major | Minor | Intermediate | - | Intermediate | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.5875 | 7.6395 | 7.6700 | 7.7220 | 7.7525 | 7.8045 | 7.8350 |
| Camarilla | 7.6779 | 7.6855 | 7.6930 | 7.7006 | 7.7082 | 7.7157 | 7.7233 |
| Woodie | 7.5769 | 7.6341 | 7.6594 | 7.7166 | 7.7419 | 7.7991 | 7.8244 |
| Fibonacci | 7.6395 | 7.6710 | 7.6905 | 7.7220 | 7.7535 | 7.7730 | 7.8045 |
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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 63.51 | |
| MACD (12,26,9): | 0.0073 | |
| Directional Movement: | 14.6764 | |
| AROON (14): | 92.8571 | |
| DEMA (21): | 7.7353 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.7360 | |
| Elder Ray (13): | 0.0153 | |
| Super Trend (3,10): | 7.7091 | |
| Zig ZAG (10): | 7.7489 | |
| VORTEX (21): | 1.1707 | |
| Stochastique (14,3,5): | 89.96 | |
| TEMA (21): | 7.7503 | |
| Williams %R (14): | -10.96 | |
| Chande Momentum Oscillator (20): | 0.0408 | |
| Repulse (5,40,3): | 0.0082 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0033 | |
| Courbe Coppock: | 1.07 |
| MA7: | 7.8435 | |
| MA20: | 7.9107 | |
| MA50: | 7.9781 | |
| MA100: | 7.9245 | |
| MAexp7: | 7.7416 | |
| MAexp20: | 7.7292 | |
| MAexp50: | 7.7384 | |
| MAexp100: | 7.7819 | |
| Price / MA7: | -1.23% | |
| Price / MA20: | -2.07% | |
| Price / MA50: | -2.90% | |
| Price / MA100: | -2.24% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | +0.23% | |
| Price / MAexp50: | +0.11% | |
| Price / MAexp100: | -0.45% |
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.
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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