NOK/MXN - Daily - Technical analysis published on 09/06/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
50%
28%
My opinion
Bearish under 2.0407 MXN
My targets
1.9929 MXN (-0.0162)
1.9463 MXN (-0.0628)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on NOK/MXN as long as the price remains well below 2.0407 MXN. The sellers' bearish objective is set at 1.9929 MXN. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.9463 MXN. In case of crossing, the next objective would be the support located at 1.8455 MXN. 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, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
7
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NOK/MXN rating is 2.0091 MXN. The price registered a decrease of -0.01% on the session and was traded between 2.0081 MXN and 2.0140 MXN over the period. The price is currently at +0.05% from its lowest and -0.24% from its highest.2.0081
2.0140
2.0091
A study of price movements over other periods shows the following variations:
New LOW record (5 years)
Type : Bearish
Timeframe : Weekly
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
Technical analysis of this Daily chart of NOK/MXN indicates that the overall trend is strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong 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.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near support of channel
Type : Bullish
Timeframe : Daily
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 | 1.6045 | 1.8455 | 1.9929 | 2.0091 | 2.0407 | 2.1131 | 2.2330 |
| Change (%) | -20.14% | -8.14% | -0.81% | - | +1.57% | +5.18% | +11.14% |
| Change | -0.4046 | -0.1636 | -0.0162 | - | +0.0316 | +0.1040 | +0.2239 |
| Level | Minor | Intermediate | Major | - | Intermediate | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.9603 | 1.9709 | 1.9901 | 2.0007 | 2.0199 | 2.0305 | 2.0497 |
| Camarilla | 2.0010 | 2.0037 | 2.0065 | 2.0092 | 2.0119 | 2.0147 | 2.0174 |
| Woodie | 1.9645 | 1.9731 | 1.9943 | 2.0029 | 2.0241 | 2.0327 | 2.0539 |
| Fibonacci | 1.9709 | 1.9823 | 1.9894 | 2.0007 | 2.0121 | 2.0192 | 2.0305 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.8933 | 1.9414 | 1.9659 | 2.0140 | 2.0385 | 2.0866 | 2.1111 |
| Camarilla | 1.9703 | 1.9770 | 1.9837 | 1.9903 | 1.9970 | 2.0036 | 2.0103 |
| Woodie | 1.8814 | 1.9355 | 1.9540 | 2.0081 | 2.0266 | 2.0807 | 2.0992 |
| Fibonacci | 1.9414 | 1.9692 | 1.9863 | 2.0140 | 2.0418 | 2.0589 | 2.0866 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.8713 | 1.9463 | 1.9872 | 2.0622 | 2.1031 | 2.1781 | 2.2190 |
| Camarilla | 1.9961 | 2.0068 | 2.0174 | 2.0280 | 2.0386 | 2.0493 | 2.0599 |
| Woodie | 1.8542 | 1.9378 | 1.9701 | 2.0537 | 2.0860 | 2.1696 | 2.2019 |
| Fibonacci | 1.9463 | 1.9906 | 2.0180 | 2.0622 | 2.1065 | 2.1339 | 2.1781 |
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): | 37.77 | |
| MACD (12,26,9): | -0.0163 | |
| Directional Movement: | -16.5228 | |
| AROON (14): | -42.8571 | |
| DEMA (21): | 2.0236 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.0613 | |
| Elder Ray (13): | -0.0211 | |
| Super Trend (3,10): | 2.0748 | |
| Zig ZAG (10): | 2.0098 | |
| VORTEX (21): | 0.8862 | |
| Stochastique (14,3,5): | 19.56 | |
| TEMA (21): | 2.0096 | |
| Williams %R (14): | -71.16 | |
| Chande Momentum Oscillator (20): | -0.0458 | |
| Repulse (5,40,3): | -0.3870 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0666 | |
| Courbe Coppock: | 4.39 |
| MA7: | 2.0216 | |
| MA20: | 2.0491 | |
| MA50: | 2.0575 | |
| MA100: | 2.0757 | |
| MAexp7: | 2.0189 | |
| MAexp20: | 2.0417 | |
| MAexp50: | 2.0598 | |
| MAexp100: | 2.0974 | |
| Price / MA7: | -0.62% | |
| Price / MA20: | -1.95% | |
| Price / MA50: | -2.35% | |
| Price / MA100: | -3.21% | |
| Price / MAexp7: | -0.49% | |
| Price / MAexp20: | -1.60% | |
| Price / MAexp50: | -2.46% | |
| Price / MAexp100: | -4.21% |
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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