NOK/HKD - 1H - Technical analysis published on 09/26/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
50%
33%
My opinion
Bearish under 0.7254 HKD
My targets
0.7208 HKD (-0.0021)
0.7192 HKD (-0.0037)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on NOK/HKD as long as the price remains well below 0.7254 HKD. The sellers' bearish objective is set at 0.7208 HKD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 0.7192 HKD. In case of crossing, the next objective would be the support located at 0.7109 HKD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7.1
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NOK/HKD rating is 0.7229 HKD. On the day, this instrument lost -0.04% and was between 0.7195 HKD and 0.7257 HKD. This implies that the price is at +0.47% from its lowest and at -0.39% from its highest.0.7195
0.7257
0.7229
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
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 LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this NOK/HKD chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further decline is low given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.7192 | 0.7208 | 0.7222 | 0.7229 | 0.7254 | 0.7273 | 0.7293 |
| Change (%) | -0.51% | -0.29% | -0.10% | - | +0.35% | +0.61% | +0.89% |
| Change | -0.0037 | -0.0021 | -0.0007 | - | +0.0025 | +0.0044 | +0.0064 |
| Level | Minor | Major | Intermediate | - | Minor | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.7117 | 0.7164 | 0.7198 | 0.7245 | 0.7279 | 0.7326 | 0.7360 |
| Camarilla | 0.7210 | 0.7217 | 0.7225 | 0.7232 | 0.7239 | 0.7247 | 0.7254 |
| Woodie | 0.7111 | 0.7161 | 0.7192 | 0.7242 | 0.7273 | 0.7323 | 0.7354 |
| Fibonacci | 0.7164 | 0.7195 | 0.7214 | 0.7245 | 0.7276 | 0.7295 | 0.7326 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.7072 | 0.7132 | 0.7203 | 0.7263 | 0.7334 | 0.7394 | 0.7465 |
| Camarilla | 0.7238 | 0.7250 | 0.7262 | 0.7274 | 0.7286 | 0.7298 | 0.7310 |
| Woodie | 0.7078 | 0.7135 | 0.7209 | 0.7266 | 0.7340 | 0.7397 | 0.7471 |
| Fibonacci | 0.7132 | 0.7182 | 0.7213 | 0.7263 | 0.7313 | 0.7344 | 0.7394 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.6747 | 0.7022 | 0.7199 | 0.7474 | 0.7651 | 0.7926 | 0.8103 |
| Camarilla | 0.7253 | 0.7294 | 0.7336 | 0.7377 | 0.7418 | 0.7460 | 0.7501 |
| Woodie | 0.6699 | 0.6998 | 0.7151 | 0.7450 | 0.7603 | 0.7902 | 0.8055 |
| Fibonacci | 0.7022 | 0.7194 | 0.7301 | 0.7474 | 0.7646 | 0.7753 | 0.7926 |
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): | 46.77 | |
| MACD (12,26,9): | -0.0004 | |
| Directional Movement: | -3.6638 | |
| AROON (14): | 35.7143 | |
| DEMA (21): | 0.7228 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.7255 | |
| Elder Ray (13): | -0.0002 | |
| Super Trend (3,10): | 0.7201 | |
| Zig ZAG (10): | 0.7228 | |
| VORTEX (21): | 1.0136 | |
| Stochastique (14,3,5): | 46.09 | |
| TEMA (21): | 0.7229 | |
| Williams %R (14): | -68.18 | |
| Chande Momentum Oscillator (20): | -0.0018 | |
| Repulse (5,40,3): | -0.0636 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0077 | |
| Courbe Coppock: | 0.11 |
| MA7: | 0.7247 | |
| MA20: | 0.7303 | |
| MA50: | 0.7455 | |
| MA100: | 0.7382 | |
| MAexp7: | 0.7230 | |
| MAexp20: | 0.7233 | |
| MAexp50: | 0.7242 | |
| MAexp100: | 0.7250 | |
| Price / MA7: | -0.25% | |
| Price / MA20: | -1.01% | |
| Price / MA50: | -3.03% | |
| Price / MA100: | -2.07% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | -0.06% | |
| Price / MAexp50: | -0.18% | |
| Price / MAexp100: | -0.29% |
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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