EUR/NOK - 1H - Technical analysis published on 05/19/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
22%
39%
39%
My opinion
Bearish under 10.9517 NOK
My targets
10.9231 NOK (-0.0253)
10.7972 NOK (-0.1512)
My analysis
EUR/NOK is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 10.9517 NOK. The next support located at 10.9231 NOK is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 10.7972 NOK. Below this support, sellers could then target 10.2614 NOK. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
FORCE
0
10
6.3
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/NOK price is 10.9484 NOK. The price is lower by +0.06% since the last closing with the lowest point at 10.9018 NOK and the highest point at 10.9836 NOK. The deviation from the price is +0.43% for the low point and -0.32% for the high point.10.9018
10.9836
10.9484
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
Here is a more detailed summary of the historical variations registered by EUR/NOK:
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of this 1H chart of EUR/NOK indicates that the overall trend is strongly bearish. The signals given by moving averages are 89.29% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
On the 18 technical indicators analysed, 4 are bullish, 7 are neutral and 7 are bearish. The Central Indicators scanner found this result concerning these indicators:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Black hanging man / hammer
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 9.9924 | 10.2614 | 10.9231 | 10.9484 | 10.9520 | 11.0489 | 11.1161 |
| Change (%) | -8.73% | -6.27% | -0.23% | - | +0.03% | +0.92% | +1.53% |
| Change | -0.9560 | -0.6870 | -0.0253 | - | +0.0036 | +0.1005 | +0.1677 |
| Level | Major | Intermediate | Intermediate | - | Intermediate | Intermediate | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.7366 | 10.8347 | 10.8881 | 10.9862 | 11.0396 | 11.1377 | 11.1911 |
| Camarilla | 10.8999 | 10.9138 | 10.9277 | 10.9416 | 10.9555 | 10.9694 | 10.9833 |
| Woodie | 10.7144 | 10.8235 | 10.8659 | 10.9750 | 11.0174 | 11.1265 | 11.1689 |
| Fibonacci | 10.8347 | 10.8925 | 10.9283 | 10.9862 | 11.0440 | 11.0798 | 11.1377 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.6714 | 10.7972 | 10.9347 | 11.0605 | 11.1980 | 11.3238 | 11.4613 |
| Camarilla | 10.9997 | 11.0238 | 11.0480 | 11.0721 | 11.0962 | 11.1204 | 11.1445 |
| Woodie | 10.6772 | 10.8001 | 10.9405 | 11.0634 | 11.2038 | 11.3267 | 11.4671 |
| Fibonacci | 10.7972 | 10.8978 | 10.9600 | 11.0605 | 11.1611 | 11.2233 | 11.3238 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.3055 | 10.6780 | 10.9517 | 11.3242 | 11.5979 | 11.9704 | 12.2441 |
| Camarilla | 11.0477 | 11.1069 | 11.1662 | 11.2254 | 11.2846 | 11.3439 | 11.4031 |
| Woodie | 10.2561 | 10.6533 | 10.9023 | 11.2995 | 11.5485 | 11.9457 | 12.1947 |
| Fibonacci | 10.6780 | 10.9249 | 11.0774 | 11.3242 | 11.5711 | 11.7236 | 11.9704 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 43.82 | |
| MACD (12,26,9): | -0.0142 | |
| Directional Movement: | 3.4683 | |
| AROON (14): | -71.4285 | |
| DEMA (21): | 10.9373 | |
| Parabolic SAR (0,02-0,02-0,2): | 10.9946 | |
| Elder Ray (13): | -0.0092 | |
| Super Trend (3,10): | 11.0030 | |
| Zig ZAG (10): | 10.9357 | |
| VORTEX (21): | 0.9402 | |
| Stochastique (14,3,5): | 17.80 | |
| TEMA (21): | 10.9325 | |
| Williams %R (14): | -75.85 | |
| Chande Momentum Oscillator (20): | -0.0084 | |
| Repulse (5,40,3): | -0.1020 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0230 | |
| Courbe Coppock: | 0.14 |
| MA7: | 11.0080 | |
| MA20: | 11.1878 | |
| MA50: | 11.3760 | |
| MA100: | 10.7375 | |
| MAexp7: | 10.9391 | |
| MAexp20: | 10.9575 | |
| MAexp50: | 10.9821 | |
| MAexp100: | 11.0041 | |
| Price / MA7: | -0.54% | |
| Price / MA20: | -2.14% | |
| Price / MA50: | -3.76% | |
| Price / MA100: | +1.96% | |
| Price / MAexp7: | +0.09% | |
| Price / MAexp20: | -0.08% | |
| Price / MAexp50: | -0.31% | |
| Price / MAexp100: | -0.50% |
This member declared not having a position on this financial instrument or a related financial instrument.
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