NOK/ZAR - Daily - Technical analysis published on 02/08/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bearish
Technical indicators
17%
50%
33%
My opinion
Bearish under 1.7328 ZAR
My targets
1.6909 ZAR (-0.0200)
1.6614 ZAR (-0.0495)
My analysis
All elements being rather bearish, it would be possible for traders to trade only short positions (for sale) on NOK/ZAR as long as the price remains well below 1.7328 ZAR. The next bearish objective for sellers is set at 1.6909 ZAR. A bearish break of this support would revive the bearish momentum. Sellers could then target the next support located at 1.6614 ZAR. If there is any crossing, the next objective would be the support located at 1.6249 ZAR. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bearish, basic trend. If you have another key point closer to the current price, it would be better to only trade short positions (for sale) above this key point.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
5.4
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Additional analysis
Quotes
The NOK/ZAR rating is 1.7109 ZAR. On the day, this instrument gained +0.73% and was traded between 1.6975 ZAR and 1.7128 ZAR over the period. The price is currently at +0.79% from its lowest and -0.11% from its highest.1.6975
1.7128
1.7109
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this NOK/ZAR chart shows a bearish trend. 78.57% of the signals given by moving averages are bearish. This bearish trend is slowing down slightly given the slightly bearish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, only 9 technical indicators out of 18 studied are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 1.6249 | 1.6614 | 1.6909 | 1.7109 | 1.7328 | 1.7496 | 1.7820 |
| Change (%) | -5.03% | -2.89% | -1.17% | - | +1.28% | +2.26% | +4.16% |
| Change | -0.0860 | -0.0495 | -0.0200 | - | +0.0219 | +0.0387 | +0.0711 |
| Level | Minor | Intermediate | Major | - | Major | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6637 | 1.6764 | 1.6874 | 1.7001 | 1.7111 | 1.7238 | 1.7348 |
| Camarilla | 1.6920 | 1.6942 | 1.6963 | 1.6985 | 1.7007 | 1.7029 | 1.7050 |
| Woodie | 1.6630 | 1.6760 | 1.6867 | 1.6997 | 1.7104 | 1.7234 | 1.7341 |
| Fibonacci | 1.6764 | 1.6854 | 1.6910 | 1.7001 | 1.7091 | 1.7147 | 1.7238 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6217 | 1.6567 | 1.6838 | 1.7188 | 1.7459 | 1.7809 | 1.8080 |
| Camarilla | 1.6939 | 1.6996 | 1.7053 | 1.7110 | 1.7167 | 1.7224 | 1.7281 |
| Woodie | 1.6179 | 1.6547 | 1.6800 | 1.7168 | 1.7421 | 1.7789 | 1.8042 |
| Fibonacci | 1.6567 | 1.6804 | 1.6950 | 1.7188 | 1.7425 | 1.7571 | 1.7809 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.5768 | 1.6179 | 1.6812 | 1.7223 | 1.7856 | 1.8267 | 1.8900 |
| Camarilla | 1.7158 | 1.7254 | 1.7349 | 1.7445 | 1.7541 | 1.7636 | 1.7732 |
| Woodie | 1.5879 | 1.6235 | 1.6923 | 1.7279 | 1.7967 | 1.8323 | 1.9011 |
| Fibonacci | 1.6179 | 1.6578 | 1.6824 | 1.7223 | 1.7622 | 1.7868 | 1.8267 |
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): | 45.62 | |
| MACD (12,26,9): | -0.0042 | |
| Directional Movement: | -9.4304 | |
| AROON (14): | -71.4285 | |
| DEMA (21): | 1.7164 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.7503 | |
| Elder Ray (13): | -0.0132 | |
| Super Trend (3,10): | 1.7736 | |
| Zig ZAG (10): | 1.7090 | |
| VORTEX (21): | 0.9932 | |
| Stochastique (14,3,5): | 21.25 | |
| TEMA (21): | 1.7135 | |
| Williams %R (14): | -72.85 | |
| Chande Momentum Oscillator (20): | -0.0398 | |
| Repulse (5,40,3): | -0.0246 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0049 | |
| Courbe Coppock: | 1.45 |
| MA7: | 1.7138 | |
| MA20: | 1.7249 | |
| MA50: | 1.7312 | |
| MA100: | 1.7229 | |
| MAexp7: | 1.7131 | |
| MAexp20: | 1.7208 | |
| MAexp50: | 1.7242 | |
| MAexp100: | 1.7218 | |
| Price / MA7: | -0.17% | |
| Price / MA20: | -0.81% | |
| Price / MA50: | -1.17% | |
| Price / MA100: | -0.70% | |
| Price / MAexp7: | -0.13% | |
| Price / MAexp20: | -0.58% | |
| Price / MAexp50: | -0.77% | |
| Price / MAexp100: | -0.63% |
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.
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