CAD/NOK - 1H - Technical analysis published on 12/31/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Slightly bullish
Technical indicators
28%
22%
50%
My opinion
Bullish above 7.8744 NOK
My targets
7.9122 NOK (+0.0162)
7.9430 NOK (+0.0470)
My analysis
The bullish trend is truly tentative and does not seem to be supported in the short term. It is advisable to trade CAD/NOK with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 7.8744 NOK. The buyers' bullish objective is set at 7.9122 NOK. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 7.9430 NOK. If there is any crossing, the next objective would be the resistance located at 7.9622 NOK. If there is a bearish break in the support located at 7.8744 NOK some indecision would arise.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
2
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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 7.8960 NOK. The price registered a decrease of -0.01% on the session and was traded between 7.8877 NOK and 7.9077 NOK over the period. The price is currently at +0.11% from its lowest and -0.15% from its highest.7.8877
7.9077
7.8960
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 (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of CAD/NOK indicates that the overall trend is slightly bullish. 53.57% of the signals given by moving averages are bullish. The slightly bullish signals given by short-term moving averages do not show a strengthening of this global trend. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
The Central Indicators scanner found this result concerning these indicators:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Near support of channel
Type : Bullish
Timeframe : 1 hour
Near support of triangle
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.8384 | 7.8744 | 7.8930 | 7.8960 | 7.9122 | 7.9430 | 7.9622 |
| Change (%) | -0.73% | -0.27% | -0.04% | - | +0.21% | +0.60% | +0.84% |
| Change | -0.0576 | -0.0216 | -0.0030 | - | +0.0162 | +0.0470 | +0.0662 |
| Level | Minor | Major | 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 | 7.8357 | 7.8541 | 7.8753 | 7.8937 | 7.9149 | 7.9333 | 7.9545 |
| Camarilla | 7.8857 | 7.8893 | 7.8930 | 7.8966 | 7.9002 | 7.9039 | 7.9075 |
| Woodie | 7.8372 | 7.8548 | 7.8768 | 7.8944 | 7.9164 | 7.9340 | 7.9560 |
| Fibonacci | 7.8541 | 7.8692 | 7.8785 | 7.8937 | 7.9088 | 7.9181 | 7.9333 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.7641 | 7.8104 | 7.8455 | 7.8918 | 7.9269 | 7.9732 | 8.0083 |
| Camarilla | 7.8581 | 7.8656 | 7.8730 | 7.8805 | 7.8880 | 7.8954 | 7.9029 |
| Woodie | 7.7584 | 7.8076 | 7.8398 | 7.8890 | 7.9212 | 7.9704 | 8.0026 |
| Fibonacci | 7.8104 | 7.8415 | 7.8607 | 7.8918 | 7.9229 | 7.9421 | 7.9732 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.5606 | 7.6819 | 7.7740 | 7.8953 | 7.9874 | 8.1087 | 8.2008 |
| Camarilla | 7.8075 | 7.8271 | 7.8466 | 7.8662 | 7.8858 | 7.9053 | 7.9249 |
| Woodie | 7.5461 | 7.6746 | 7.7595 | 7.8880 | 7.9729 | 8.1014 | 8.1863 |
| Fibonacci | 7.6819 | 7.7634 | 7.8138 | 7.8953 | 7.9768 | 8.0272 | 8.1087 |
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): | 53.78 | |
| MACD (12,26,9): | 0.0014 | |
| Directional Movement: | 6.7256 | |
| AROON (14): | 7.1429 | |
| DEMA (21): | 7.8968 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.9101 | |
| Elder Ray (13): | 0.0010 | |
| Super Trend (3,10): | 7.9130 | |
| Zig ZAG (10): | 7.8992 | |
| VORTEX (21): | 1.0511 | |
| Stochastique (14,3,5): | 44.95 | |
| TEMA (21): | 7.8982 | |
| Williams %R (14): | -56.38 | |
| Chande Momentum Oscillator (20): | -0.0026 | |
| Repulse (5,40,3): | 0.0761 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0032 | |
| Courbe Coppock: | 0.00 |
| MA7: | 7.8963 | |
| MA20: | 7.8747 | |
| MA50: | 7.8920 | |
| MA100: | 7.8612 | |
| MAexp7: | 7.8966 | |
| MAexp20: | 7.8952 | |
| MAexp50: | 7.8947 | |
| MAexp100: | 7.8950 | |
| Price / MA7: | +0.00% | |
| Price / MA20: | +0.27% | |
| Price / MA50: | +0.05% | |
| Price / MA100: | +0.44% | |
| Price / MAexp7: | +0.00% | |
| Price / MAexp20: | +0.02% | |
| Price / MAexp50: | +0.03% | |
| Price / MAexp100: | +0.02% |
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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