NOK/SEK - 1H - Technical analysis published on 07/31/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
22%
33%
44%
My opinion
Bullish above 1.0264 SEK
My targets
1.0360 SEK (+0.0023)
1.0378 SEK (+0.0041)
My analysis
Has the basic bullish 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 bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 1.0264 SEK remains possible. It is advisable to trade NOK/SEK with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 1.0264 SEK. The next bullish objective for buyers is set at 1.0360 SEK. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.0378 SEK. If there is any crossing, the next objective would be the resistance located at 1.0418 SEK. PS: if there is a bearish break in the support located at 1.0264 SEK we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
2.1
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Additional analysis
Quotes
The NOK/SEK price is 1.0337 SEK. On the day, this instrument lost -0.02% and was traded between 1.0324 SEK and 1.0385 SEK over the period. The price is currently at +0.13% from its lowest and -0.46% from its highest.1.0324
1.0385
1.0337
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
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
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of NOK/SEK in 1H shows an overall bullish trend. 67.86% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
On the 18 technical indicators analysed, 4 are bullish, 8 are neutral and 6 are bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Ichimoku : price is over the cloud
Type : Bullish
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 | R1 | Price | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.0141 | 1.0235 | 1.0264 | 1.0337 | 1.0337 | 1.0360 | 1.0378 |
| Change (%) | -1.90% | -0.99% | -0.71% | 0% | - | +0.22% | +0.40% |
| Change | -0.0196 | -0.0102 | -0.0073 | 0 | - | +0.0023 | +0.0041 |
| Level | Minor | Intermediate | Major | Minor | - | Minor | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0197 | 1.0238 | 1.0288 | 1.0329 | 1.0379 | 1.0420 | 1.0470 |
| Camarilla | 1.0314 | 1.0322 | 1.0331 | 1.0339 | 1.0347 | 1.0356 | 1.0364 |
| Woodie | 1.0203 | 1.0240 | 1.0294 | 1.0331 | 1.0385 | 1.0422 | 1.0476 |
| Fibonacci | 1.0238 | 1.0272 | 1.0294 | 1.0329 | 1.0363 | 1.0385 | 1.0420 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0114 | 1.0174 | 1.0257 | 1.0317 | 1.0400 | 1.0460 | 1.0543 |
| Camarilla | 1.0300 | 1.0313 | 1.0326 | 1.0339 | 1.0352 | 1.0365 | 1.0378 |
| Woodie | 1.0125 | 1.0180 | 1.0268 | 1.0323 | 1.0411 | 1.0466 | 1.0554 |
| Fibonacci | 1.0174 | 1.0229 | 1.0263 | 1.0317 | 1.0372 | 1.0406 | 1.0460 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.9356 | 0.9540 | 0.9795 | 0.9979 | 1.0234 | 1.0418 | 1.0673 |
| Camarilla | 0.9928 | 0.9969 | 1.0009 | 1.0049 | 1.0089 | 1.0130 | 1.0170 |
| Woodie | 0.9391 | 0.9558 | 0.9830 | 0.9997 | 1.0269 | 1.0436 | 1.0708 |
| Fibonacci | 0.9540 | 0.9708 | 0.9812 | 0.9979 | 1.0147 | 1.0251 | 1.0418 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 48.01 | |
| MACD (12,26,9): | 0.0001 | |
| Directional Movement: | -1.3149 | |
| AROON (14): | 7.1428 | |
| DEMA (21): | 1.0339 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0380 | |
| Elder Ray (13): | -0.0005 | |
| Super Trend (3,10): | 1.0278 | |
| Zig ZAG (10): | 1.0329 | |
| VORTEX (21): | 0.9828 | |
| Stochastique (14,3,5): | 10.22 | |
| TEMA (21): | 1.0334 | |
| Williams %R (14): | -88.71 | |
| Chande Momentum Oscillator (20): | -0.0020 | |
| Repulse (5,40,3): | -0.0686 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0047 | |
| Courbe Coppock: | 0.13 |
| MA7: | 1.0316 | |
| MA20: | 1.0254 | |
| MA50: | 1.0058 | |
| MA100: | 0.9930 | |
| MAexp7: | 1.0334 | |
| MAexp20: | 1.0336 | |
| MAexp50: | 1.0329 | |
| MAexp100: | 1.0318 | |
| Price / MA7: | +0.20% | |
| Price / MA20: | +0.81% | |
| Price / MA50: | +2.77% | |
| Price / MA100: | +4.10% | |
| Price / MAexp7: | +0.03% | |
| Price / MAexp20: | +0.01% | |
| Price / MAexp50: | +0.08% | |
| Price / MAexp100: | +0.18% |
Quotes :
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Real time data
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Forex
News
The latest news and videos published on NOK/SEK at the time of the analysis were 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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