CAD/NOK - 1H - Technical analysis published on 01/26/2024 (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:
Neutral
Underlying:
Strongly bearish
Technical indicators
33%
28%
39%
My opinion
Bearish under 7.7695 NOK
My targets
7.7040 NOK (-0.0414)
7.6734 NOK (-0.0720)
My analysis
The basic trend is very bearish on CAD/NOK but buyers need to catch their breath in the short term. In a case like this, you could favour trades in the direction of the trend on CAD/NOK. As long as you stay below the resistance 7.7695 NOK, sellers' retain the upper hand. A break in the support at 7.7040 NOK would be a signal that the basic trend will reverse. Sellers would then use the next support located at 7.6734 NOK as an objective. Crossing it would then enable sellers to target 7.5774 NOK. If the price were to depress the resistance 7.7695 NOK in the short term, this would be a sign of possible consolidation in the short term, but against the trend trading would then perhaps be more risky. On the other hand, we could expect signals of a reversal of the trend.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
4.1
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Additional analysis
Quotes
CAD/NOK rating 7.7454 NOK. The price registered a decrease of -0.02% on the session with the lowest point at 7.7413 NOK and the highest point at 7.7536 NOK. The deviation from the price is +0.05% for the low point and -0.11% for the high point.7.7413
7.7536
7.7454
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
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 (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of CAD/NOK in 1H shows a overall strongly bearish trend. 82.14% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the strongly bearish trend is showing signs of running out of steam. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
On the 18 technical indicators analysed, 6 are bullish, 7 are neutral and 5 are bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.6734 | 7.7040 | 7.7421 | 7.7454 | 7.7695 | 7.8183 | 7.8343 |
| Change (%) | -0.93% | -0.53% | -0.04% | - | +0.31% | +0.94% | +1.15% |
| Change | -0.0720 | -0.0414 | -0.0033 | - | +0.0241 | +0.0729 | +0.0889 |
| Level | Intermediate | Intermediate | Minor | - | 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 | 7.6540 | 7.6790 | 7.7129 | 7.7379 | 7.7718 | 7.7968 | 7.8307 |
| Camarilla | 7.7306 | 7.7360 | 7.7414 | 7.7468 | 7.7522 | 7.7576 | 7.7630 |
| Woodie | 7.6585 | 7.6812 | 7.7174 | 7.7401 | 7.7763 | 7.7990 | 7.8352 |
| Fibonacci | 7.6790 | 7.7015 | 7.7154 | 7.7379 | 7.7604 | 7.7743 | 7.7968 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.5610 | 7.6138 | 7.7132 | 7.7660 | 7.8654 | 7.9182 | 8.0176 |
| Camarilla | 7.7708 | 7.7847 | 7.7987 | 7.8126 | 7.8266 | 7.8405 | 7.8545 |
| Woodie | 7.5843 | 7.6255 | 7.7365 | 7.7777 | 7.8887 | 7.9299 | 8.0409 |
| Fibonacci | 7.6138 | 7.6719 | 7.7079 | 7.7660 | 7.8241 | 7.8601 | 7.9182 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.0116 | 7.3147 | 7.4952 | 7.7983 | 7.9788 | 8.2819 | 8.4624 |
| Camarilla | 7.5426 | 7.5869 | 7.6313 | 7.6756 | 7.7199 | 7.7643 | 7.8086 |
| Woodie | 6.9502 | 7.2841 | 7.4338 | 7.7677 | 7.9174 | 8.2513 | 8.4010 |
| Fibonacci | 7.3147 | 7.4995 | 7.6136 | 7.7983 | 7.9831 | 8.0972 | 8.2819 |
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): | 47.31 | |
| MACD (12,26,9): | -0.0013 | |
| Directional Movement: | 0.4443 | |
| AROON (14): | 21.4286 | |
| DEMA (21): | 7.7434 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.7413 | |
| Elder Ray (13): | -0.0006 | |
| Super Trend (3,10): | 7.7123 | |
| Zig ZAG (10): | 7.7447 | |
| VORTEX (21): | 1.0315 | |
| Stochastique (14,3,5): | 45.49 | |
| TEMA (21): | 7.7485 | |
| Williams %R (14): | -62.89 | |
| Chande Momentum Oscillator (20): | -0.0058 | |
| Repulse (5,40,3): | -0.0320 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0036 | |
| Courbe Coppock: | 0.21 |
| MA7: | 7.7812 | |
| MA20: | 7.7468 | |
| MA50: | 7.8177 | |
| MA100: | 7.9119 | |
| MAexp7: | 7.7461 | |
| MAexp20: | 7.7461 | |
| MAexp50: | 7.7554 | |
| MAexp100: | 7.7657 | |
| Price / MA7: | -0.46% | |
| Price / MA20: | -0.02% | |
| Price / MA50: | -0.92% | |
| Price / MA100: | -2.10% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | -0.01% | |
| Price / MAexp50: | -0.13% | |
| Price / MAexp100: | -0.26% |
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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