NOK/MXN - 1H - Technical analysis published on 11/28/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 1.6127 MXN
My targets
1.6218 MXN (+0.0068)
1.6348 MXN (+0.0198)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on NOK/MXN as long as the price remains well above 1.6127 MXN. The buyers' bullish objective is set at 1.6218 MXN. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.6348 MXN. If there is any crossing, the next objective would be the resistance located at 1.6466 MXN. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.5
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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 price is 1.6150 MXN. The price registered a decrease of -0.01% on the session and was between 1.6026 MXN and 1.6168 MXN. This implies that the price is at +0.77% from its lowest and at -0.11% from its highest.1.6026
1.6168
1.6150
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
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 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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of NOK/MXN in 1H shows a strongly overall bullish trend. The signals given by moving averages are 89.29% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by 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 increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
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 | 1.5935 | 1.6032 | 1.6127 | 1.6150 | 1.6218 | 1.6466 | 1.6935 |
| Change (%) | -1.33% | -0.73% | -0.14% | - | +0.42% | +1.96% | +4.86% |
| Change | -0.0215 | -0.0118 | -0.0023 | - | +0.0068 | +0.0316 | +0.0785 |
| Level | Minor | Intermediate | Minor | - | Intermediate | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.5742 | 1.5827 | 1.5989 | 1.6074 | 1.6236 | 1.6321 | 1.6483 |
| Camarilla | 1.6084 | 1.6107 | 1.6129 | 1.6152 | 1.6175 | 1.6197 | 1.6220 |
| Woodie | 1.5782 | 1.5846 | 1.6029 | 1.6093 | 1.6276 | 1.6340 | 1.6523 |
| Fibonacci | 1.5827 | 1.5921 | 1.5979 | 1.6074 | 1.6168 | 1.6226 | 1.6321 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.5505 | 1.5700 | 1.5829 | 1.6024 | 1.6153 | 1.6348 | 1.6477 |
| Camarilla | 1.5870 | 1.5900 | 1.5929 | 1.5959 | 1.5989 | 1.6018 | 1.6048 |
| Woodie | 1.5473 | 1.5684 | 1.5797 | 1.6008 | 1.6121 | 1.6332 | 1.6445 |
| Fibonacci | 1.5700 | 1.5823 | 1.5900 | 1.6024 | 1.6147 | 1.6224 | 1.6348 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.4900 | 1.5489 | 1.5824 | 1.6413 | 1.6748 | 1.7337 | 1.7672 |
| Camarilla | 1.5906 | 1.5991 | 1.6075 | 1.6160 | 1.6245 | 1.6329 | 1.6414 |
| Woodie | 1.4774 | 1.5426 | 1.5698 | 1.6350 | 1.6622 | 1.7274 | 1.7546 |
| Fibonacci | 1.5489 | 1.5842 | 1.6060 | 1.6413 | 1.6766 | 1.6984 | 1.7337 |
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): | 61.78 | |
| MACD (12,26,9): | 0.0016 | |
| Directional Movement: | -4.9408 | |
| AROON (14): | 42.8572 | |
| DEMA (21): | 1.6141 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.6072 | |
| Elder Ray (13): | 0.0014 | |
| Super Trend (3,10): | 1.6061 | |
| Zig ZAG (10): | 1.6148 | |
| VORTEX (21): | 0.9714 | |
| Stochastique (14,3,5): | 87.34 | |
| TEMA (21): | 1.6136 | |
| Williams %R (14): | 0.00 | |
| Chande Momentum Oscillator (20): | 0.0068 | |
| Repulse (5,40,3): | 0.2551 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0147 | |
| Courbe Coppock: | 0.27 |
| MA7: | 1.6048 | |
| MA20: | 1.5917 | |
| MA50: | 1.6183 | |
| MA100: | 1.6256 | |
| MAexp7: | 1.6134 | |
| MAexp20: | 1.6118 | |
| MAexp50: | 1.6081 | |
| MAexp100: | 1.6047 | |
| Price / MA7: | +0.64% | |
| Price / MA20: | +1.46% | |
| Price / MA50: | -0.20% | |
| Price / MA100: | -0.65% | |
| Price / MAexp7: | +0.10% | |
| Price / MAexp20: | +0.20% | |
| Price / MAexp50: | +0.43% | |
| Price / MAexp100: | +0.64% |
Quotes :
-
Real time data
-
Forex
This member declared not having a position on this financial instrument or a related financial instrument.
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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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