NOK/ZAR - 1H - Technical analysis published on 11/21/2022 (GMT)
- 151
- 0
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
44%
17%
39%
My opinion
Bearish under 1.7001 ZAR
My targets
1.6742 ZAR (-0.0186)
1.6614 ZAR (-0.0314)
My analysis
The bearish trend is currently very strong for NOK/ZAR. As long as the price remains below the resistance at 1.7001 ZAR, you could try to take advantage of the bearish rally. The first bearish objective is located at 1.6742 ZAR. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.6614 ZAR as an objective. Crossing it would then enable sellers to target 1.6159 ZAR. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
5.2
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NOK/ZAR rating is 1.6928 ZAR. The price registered a decrease of -0.03% on the session and was between 1.6884 ZAR and 1.7025 ZAR. This implies that the price is at +0.26% from its lowest and at -0.57% from its highest.1.6884
1.7025
1.6928
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of NOK/ZAR in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
In fact, only 8 technical indicators out of 18 studied are currently bullish. The Central Indicators scanner found this result concerning these indicators:
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near support of channel
Type : Bullish
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 | 1.5880 | 1.6159 | 1.6614 | 1.6928 | 1.7001 | 1.7192 | 1.7260 |
| Change (%) | -6.19% | -4.54% | -1.85% | - | +0.43% | +1.56% | +1.96% |
| Change | -0.1048 | -0.0769 | -0.0314 | - | +0.0073 | +0.0264 | +0.0332 |
| Level | Intermediate | Major | Intermediate | - | Major | Intermediate | 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 | 1.6529 | 1.6716 | 1.6825 | 1.7012 | 1.7121 | 1.7308 | 1.7417 |
| Camarilla | 1.6852 | 1.6879 | 1.6906 | 1.6933 | 1.6960 | 1.6987 | 1.7014 |
| Woodie | 1.6489 | 1.6697 | 1.6785 | 1.6993 | 1.7081 | 1.7289 | 1.7377 |
| Fibonacci | 1.6716 | 1.6829 | 1.6899 | 1.7012 | 1.7125 | 1.7195 | 1.7308 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6199 | 1.6552 | 1.6742 | 1.7095 | 1.7285 | 1.7638 | 1.7828 |
| Camarilla | 1.6784 | 1.6834 | 1.6883 | 1.6933 | 1.6983 | 1.7033 | 1.7082 |
| Woodie | 1.6119 | 1.6511 | 1.6662 | 1.7054 | 1.7205 | 1.7597 | 1.7748 |
| Fibonacci | 1.6552 | 1.6759 | 1.6887 | 1.7095 | 1.7302 | 1.7430 | 1.7638 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.5690 | 1.6111 | 1.6885 | 1.7306 | 1.8080 | 1.8501 | 1.9275 |
| Camarilla | 1.7331 | 1.7441 | 1.7551 | 1.7660 | 1.7770 | 1.7879 | 1.7989 |
| Woodie | 1.5868 | 1.6199 | 1.7063 | 1.7394 | 1.8258 | 1.8589 | 1.9453 |
| Fibonacci | 1.6111 | 1.6567 | 1.6849 | 1.7306 | 1.7762 | 1.8044 | 1.8501 |
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): | 38.85 | |
| MACD (12,26,9): | -0.0048 | |
| Directional Movement: | -5.7594 | |
| AROON (14): | -42.8571 | |
| DEMA (21): | 1.6895 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.7005 | |
| Elder Ray (13): | -0.0014 | |
| Super Trend (3,10): | 1.7051 | |
| Zig ZAG (10): | 1.6935 | |
| VORTEX (21): | 0.8039 | |
| Stochastique (14,3,5): | 24.44 | |
| TEMA (21): | 1.6896 | |
| Williams %R (14): | -61.70 | |
| Chande Momentum Oscillator (20): | 0.0016 | |
| Repulse (5,40,3): | 0.2211 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0491 | |
| Courbe Coppock: | 0.55 |
| MA7: | 1.7169 | |
| MA20: | 1.7340 | |
| MA50: | 1.7157 | |
| MA100: | 1.7125 | |
| MAexp7: | 1.6928 | |
| MAexp20: | 1.6965 | |
| MAexp50: | 1.7057 | |
| MAexp100: | 1.7141 | |
| Price / MA7: | -1.40% | |
| Price / MA20: | -2.38% | |
| Price / MA50: | -1.33% | |
| Price / MA100: | -1.15% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | -0.22% | |
| Price / MAexp50: | -0.76% | |
| Price / MAexp100: | -1.25% |
Quotes :
-
Real time data
-
Forex
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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…
Add a comment
Comments
0 comments on the analysis NOK/ZAR - 1H