EUR/NOK - 15 min. - Technical analysis published on 09/22/2023 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
50%
11%
39%
My opinion
Bearish under 11.4952 NOK
My targets
11.4495 NOK (-0.0285)
11.4095 NOK (-0.0685)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on EUR/NOK. As long as you are under the resistance located at 11.4952 NOK, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 11.4495 NOK would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 11.4095 NOK as an objective. Crossing it would then enable sellers to target 11.3638 NOK. If the resistance 11.4952 NOK were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
2.7
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This analysis was given by mosabalzayed. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
EUR/NOK rating 11.4780 NOK. The price registered a decrease of -0.10% on the session and was traded between 11.4599 NOK and 11.4967 NOK over the period. The price is currently at +0.16% from its lowest and -0.16% from its highest.11.4599
11.4967
11.4780
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of EUR/NOK in 15 min. shows an overall bearish trend. The signals given by moving averages are 78.57% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, only 9 technical indicators out of 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 15 minutes
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 15 minutes
RSI indicator is back over 50
Type : Bullish
Timeframe : 15 minutes
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 15 minutes
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : 15 minutes
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 15 minutes
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish harami
Type : Bullish
Timeframe : 15 minutes
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 11.4063 | 11.4264 | 11.4691 | 11.4780 | 11.4924 | 11.5075 | 11.5408 |
| Change (%) | -0.62% | -0.45% | -0.08% | - | +0.13% | +0.26% | +0.55% |
| Change | -0.0717 | -0.0516 | -0.0089 | - | +0.0144 | +0.0295 | +0.0628 |
| Level | Intermediate | Minor | Intermediate | - | Minor | Major | Intermediate |
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 | 11.3638 | 11.4095 | 11.4495 | 11.4952 | 11.5352 | 11.5809 | 11.6209 |
| Camarilla | 11.4660 | 11.4739 | 11.4817 | 11.4896 | 11.4975 | 11.5053 | 11.5132 |
| Woodie | 11.3611 | 11.4081 | 11.4468 | 11.4938 | 11.5325 | 11.5795 | 11.6182 |
| Fibonacci | 11.4095 | 11.4422 | 11.4624 | 11.4952 | 11.5279 | 11.5481 | 11.5809 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.3095 | 11.3547 | 11.4261 | 11.4713 | 11.5427 | 11.5879 | 11.6593 |
| Camarilla | 11.4654 | 11.4761 | 11.4868 | 11.4975 | 11.5082 | 11.5189 | 11.5296 |
| Woodie | 11.3226 | 11.3613 | 11.4392 | 11.4779 | 11.5558 | 11.5945 | 11.6724 |
| Fibonacci | 11.3547 | 11.3992 | 11.4268 | 11.4713 | 11.5158 | 11.5434 | 11.5879 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.7151 | 10.9187 | 11.2233 | 11.4269 | 11.7315 | 11.9351 | 12.2397 |
| Camarilla | 11.3881 | 11.4346 | 11.4812 | 11.5278 | 11.5744 | 11.6210 | 11.6676 |
| Woodie | 10.7655 | 10.9440 | 11.2737 | 11.4522 | 11.7819 | 11.9604 | 12.2901 |
| Fibonacci | 10.9187 | 11.1129 | 11.2328 | 11.4269 | 11.6211 | 11.7410 | 11.9351 |
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): | 41.74 | |
| MACD (12,26,9): | -0.0045 | |
| Directional Movement: | -3.3208 | |
| AROON (14): | -28.5714 | |
| DEMA (21): | 11.4660 | |
| Parabolic SAR (0,02-0,02-0,2): | 11.4824 | |
| Elder Ray (13): | -0.0037 | |
| Super Trend (3,10): | 11.4977 | |
| Zig ZAG (10): | 11.4724 | |
| VORTEX (21): | 0.9502 | |
| Stochastique (14,3,5): | 44.39 | |
| TEMA (21): | 11.4670 | |
| Williams %R (14): | -44.00 | |
| Chande Momentum Oscillator (20): | 0.0059 | |
| Repulse (5,40,3): | 0.1187 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0067 | |
| Courbe Coppock: | 0.04 |
| MA7: | 11.4946 | |
| MA20: | 11.4976 | |
| MA50: | 11.3948 | |
| MA100: | 11.5329 | |
| MAexp7: | 11.4710 | |
| MAexp20: | 11.4720 | |
| MAexp50: | 11.4803 | |
| MAexp100: | 11.4873 | |
| Price / MA7: | -0.14% | |
| Price / MA20: | -0.17% | |
| Price / MA50: | +0.73% | |
| Price / MA100: | -0.48% | |
| Price / MAexp7: | +0.06% | |
| Price / MAexp20: | +0.05% | |
| Price / MAexp50: | -0.02% | |
| Price / MAexp100: | -0.08% |
Quotes :
-
Real time data
-
Forex
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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