NOK/SEK - 1H - Technical analysis published on 02/22/2023 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Bearish
Technical indicators
78%
0%
22%
My opinion
Bearish under 1.0124 SEK
My targets
1.0017 SEK (-0.0055)
0.9929 SEK (-0.0143)
My analysis
The basic trend is bearish on NOK/SEK and in the short term, the price is trying to rebound. For the time being, this is only a technical rebound and the basic trend is not threatened. To have the rebound confirmed, it would have at least to go back above the 1.0124 SEK. Buyers would then use the next resistance located at 1.0164 SEK as an objective. Crossing it would then enable buyers to target 1.0230 SEK. If there is a return to below the support located at 1.0017 SEK, this would be a sign of a reversal in the basic bearish trend. The next bearish objectives would be 0.9929 SEK and 0.9521 SEK by extension.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
0
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
NOK/SEK rating 1.0072 SEK. The price is lower by -0.01% since the last closing and was between 1.0022 SEK and 1.0087 SEK. This implies that the price is at +0.50% from its lowest and at -0.15% from its highest.1.0022
1.0087
1.0072
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 (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 1H chart of NOK/SEK indicates that the overall trend is bearish. The signals given by moving averages are at 67.86% bearish. This bearish trend could slow down given the slightly bullish signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
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 | 0.9929 | 1.0017 | 1.0064 | 1.0072 | 1.0124 | 1.0164 | 1.0230 |
| Change (%) | -1.42% | -0.55% | -0.08% | - | +0.52% | +0.91% | +1.57% |
| Change | -0.0143 | -0.0055 | -0.0008 | - | +0.0052 | +0.0092 | +0.0158 |
| Level | Intermediate | 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 | 0.9913 | 0.9965 | 1.0019 | 1.0071 | 1.0125 | 1.0177 | 1.0231 |
| Camarilla | 1.0044 | 1.0054 | 1.0063 | 1.0073 | 1.0083 | 1.0092 | 1.0102 |
| Woodie | 0.9914 | 0.9966 | 1.0020 | 1.0072 | 1.0126 | 1.0178 | 1.0232 |
| Fibonacci | 0.9965 | 1.0006 | 1.0031 | 1.0071 | 1.0112 | 1.0137 | 1.0177 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.9933 | 1.0039 | 1.0103 | 1.0209 | 1.0273 | 1.0379 | 1.0443 |
| Camarilla | 1.0119 | 1.0135 | 1.0150 | 1.0166 | 1.0182 | 1.0197 | 1.0213 |
| Woodie | 0.9911 | 1.0029 | 1.0081 | 1.0199 | 1.0251 | 1.0369 | 1.0421 |
| Fibonacci | 1.0039 | 1.0104 | 1.0144 | 1.0209 | 1.0274 | 1.0314 | 1.0379 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.9910 | 1.0099 | 1.0277 | 1.0466 | 1.0644 | 1.0833 | 1.1011 |
| Camarilla | 1.0354 | 1.0388 | 1.0421 | 1.0455 | 1.0489 | 1.0522 | 1.0556 |
| Woodie | 0.9905 | 1.0096 | 1.0272 | 1.0463 | 1.0639 | 1.0830 | 1.1006 |
| Fibonacci | 1.0099 | 1.0239 | 1.0326 | 1.0466 | 1.0606 | 1.0693 | 1.0833 |
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): | 55.64 | |
| MACD (12,26,9): | -0.0001 | |
| Directional Movement: | 0.4751 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 1.0059 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0021 | |
| Elder Ray (13): | 0.0015 | |
| Super Trend (3,10): | 1.0102 | |
| Zig ZAG (10): | 1.0074 | |
| VORTEX (21): | 1.0273 | |
| Stochastique (14,3,5): | 86.66 | |
| TEMA (21): | 1.0066 | |
| Williams %R (14): | -18.75 | |
| Chande Momentum Oscillator (20): | 0.0002 | |
| Repulse (5,40,3): | 0.0718 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0068 | |
| Courbe Coppock: | 0.10 |
| MA7: | 1.0146 | |
| MA20: | 1.0267 | |
| MA50: | 1.0412 | |
| MA100: | 1.0468 | |
| MAexp7: | 1.0066 | |
| MAexp20: | 1.0062 | |
| MAexp50: | 1.0077 | |
| MAexp100: | 1.0109 | |
| Price / MA7: | -0.73% | |
| Price / MA20: | -1.90% | |
| Price / MA50: | -3.27% | |
| Price / MA100: | -3.78% | |
| Price / MAexp7: | +0.06% | |
| Price / MAexp20: | +0.10% | |
| Price / MAexp50: | -0.05% | |
| Price / MAexp100: | -0.37% |
Quotes :
-
Real time data
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Forex
News
The last news published on NOK/SEK at the time of the generation of this analysis was as follows:
“Wishful Thinking” NOK/SEKThis 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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