NOK/HKD - 1H - Technical analysis published on 03/18/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
44%
17%
39%
My opinion
Bearish under 0.7400 HKD
My targets
0.7356 HKD (-0.0030)
0.7313 HKD (-0.0073)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 0.7400 HKD remains possible. It is advisable to trade NOK/HKD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 0.7400 HKD. The next bearish objective for sellers is set at 0.7356 HKD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 0.7313 HKD. In case of crossing, the next objective would be the support located at 0.7211 HKD. PS: if there is a bullish break in the resistance located at 0.7400 HKD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
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
1.6
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Additional analysis
Quotes
The NOK/HKD rating is 0.7386 HKD. The price registered a decrease of -0.03% on the session with the lowest point at 0.7355 HKD and the highest point at 0.7423 HKD. The deviation from the price is +0.42% for the low point and -0.50% for the high point.0.7355
0.7423
0.7386
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 (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of NOK/HKD indicates that the overall trend is bearish. 71.43% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Technical indicators are slightly bullish. There is therefore considerable uncertainty about the continuation of the increase.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.7313 | 0.7356 | 0.7381 | 0.7386 | 0.7400 | 0.7450 | 0.7510 |
| Change (%) | -0.99% | -0.41% | -0.07% | - | +0.19% | +0.87% | +1.68% |
| Change | -0.0073 | -0.0030 | -0.0005 | - | +0.0014 | +0.0064 | +0.0124 |
| Level | Major | Intermediate | Minor | - | Intermediate | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.7319 | 0.7337 | 0.7363 | 0.7381 | 0.7407 | 0.7425 | 0.7451 |
| Camarilla | 0.7376 | 0.7380 | 0.7384 | 0.7388 | 0.7392 | 0.7396 | 0.7400 |
| Woodie | 0.7322 | 0.7339 | 0.7366 | 0.7383 | 0.7410 | 0.7427 | 0.7454 |
| Fibonacci | 0.7337 | 0.7354 | 0.7365 | 0.7381 | 0.7398 | 0.7409 | 0.7425 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.7171 | 0.7263 | 0.7326 | 0.7418 | 0.7481 | 0.7573 | 0.7636 |
| Camarilla | 0.7345 | 0.7360 | 0.7374 | 0.7388 | 0.7402 | 0.7416 | 0.7431 |
| Woodie | 0.7156 | 0.7256 | 0.7311 | 0.7411 | 0.7466 | 0.7566 | 0.7621 |
| Fibonacci | 0.7263 | 0.7323 | 0.7359 | 0.7418 | 0.7478 | 0.7514 | 0.7573 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.7035 | 0.7165 | 0.7267 | 0.7397 | 0.7499 | 0.7629 | 0.7731 |
| Camarilla | 0.7305 | 0.7327 | 0.7348 | 0.7369 | 0.7390 | 0.7412 | 0.7433 |
| Woodie | 0.7021 | 0.7158 | 0.7253 | 0.7390 | 0.7485 | 0.7622 | 0.7717 |
| Fibonacci | 0.7165 | 0.7254 | 0.7308 | 0.7397 | 0.7486 | 0.7540 | 0.7629 |
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): | 53.98 | |
| MACD (12,26,9): | -0.0004 | |
| Directional Movement: | 12.6161 | |
| AROON (14): | -14.2857 | |
| DEMA (21): | 0.7370 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.7412 | |
| Elder Ray (13): | 0.0008 | |
| Super Trend (3,10): | 0.7401 | |
| Zig ZAG (10): | 0.7388 | |
| VORTEX (21): | 0.9178 | |
| Stochastique (14,3,5): | 38.73 | |
| TEMA (21): | 0.7377 | |
| Williams %R (14): | -51.47 | |
| Chande Momentum Oscillator (20): | 0.0000 | |
| Repulse (5,40,3): | 0.2029 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0140 | |
| Courbe Coppock: | 0.10 |
| MA7: | 0.7440 | |
| MA20: | 0.7436 | |
| MA50: | 0.7447 | |
| MA100: | 0.7369 | |
| MAexp7: | 0.7378 | |
| MAexp20: | 0.7377 | |
| MAexp50: | 0.7394 | |
| MAexp100: | 0.7416 | |
| Price / MA7: | -0.73% | |
| Price / MA20: | -0.67% | |
| Price / MA50: | -0.82% | |
| Price / MA100: | +0.23% | |
| Price / MAexp7: | +0.11% | |
| Price / MAexp20: | +0.12% | |
| Price / MAexp50: | -0.11% | |
| Price / MAexp100: | -0.40% |
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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