NOK/ZAR - 1H - Technical analysis published on 09/01/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
39%
11%
50%
My opinion
Bullish above 1.7714 ZAR
My targets
1.7803 ZAR (+0.0059)
1.7940 ZAR (+0.0196)
My analysis
The bullish trend is currently very strong on NOK/ZAR. As long as the price remains above the support at 1.7714 ZAR, you could try to benefit from the boom. The first bullish objective is located at 1.7803 ZAR. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.7940 ZAR as an objective. Crossing it would then enable buyers to target 1.8083 ZAR. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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.
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
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Additional analysis
Quotes
The NOK/ZAR price is 1.7744 ZAR. The price registered a decrease of -0.01% on the session with the lowest point at 1.7703 ZAR and the highest point at 1.7754 ZAR. The deviation from the price is +0.23% for the low point and -0.06% for the high point.1.7703
1.7754
1.7744
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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of NOK/ZAR indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
Technical indicators are slightly bullish. There is therefore considerable uncertainty about the continuation of the increase.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
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 support
Type : Bullish
Timeframe : 1 hour
Near support of channel
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.7599 | 1.7655 | 1.7714 | 1.7744 | 1.7803 | 1.7940 | 1.8083 |
| Change (%) | -0.82% | -0.50% | -0.17% | - | +0.33% | +1.10% | +1.91% |
| Change | -0.0145 | -0.0089 | -0.0030 | - | +0.0059 | +0.0196 | +0.0339 |
| Level | Intermediate | Minor | Minor | - | Major | 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 | 1.7294 | 1.7411 | 1.7578 | 1.7695 | 1.7862 | 1.7979 | 1.8146 |
| Camarilla | 1.7667 | 1.7693 | 1.7719 | 1.7745 | 1.7771 | 1.7797 | 1.7823 |
| Woodie | 1.7319 | 1.7424 | 1.7603 | 1.7708 | 1.7887 | 1.7992 | 1.8171 |
| Fibonacci | 1.7411 | 1.7520 | 1.7587 | 1.7695 | 1.7804 | 1.7871 | 1.7979 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6543 | 1.6945 | 1.7175 | 1.7577 | 1.7807 | 1.8209 | 1.8439 |
| Camarilla | 1.7231 | 1.7289 | 1.7347 | 1.7405 | 1.7463 | 1.7521 | 1.7579 |
| Woodie | 1.6457 | 1.6902 | 1.7089 | 1.7534 | 1.7721 | 1.8166 | 1.8353 |
| Fibonacci | 1.6945 | 1.7186 | 1.7336 | 1.7577 | 1.7818 | 1.7968 | 1.8209 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.5660 | 1.6448 | 1.7097 | 1.7885 | 1.8534 | 1.9322 | 1.9971 |
| Camarilla | 1.7350 | 1.7482 | 1.7613 | 1.7745 | 1.7877 | 1.8009 | 1.8140 |
| Woodie | 1.5590 | 1.6413 | 1.7027 | 1.7850 | 1.8464 | 1.9287 | 1.9901 |
| Fibonacci | 1.6448 | 1.6997 | 1.7336 | 1.7885 | 1.8434 | 1.8773 | 1.9322 |
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): | 58.06 | |
| MACD (12,26,9): | 0.0038 | |
| Directional Movement: | 12.3883 | |
| AROON (14): | 7.1428 | |
| DEMA (21): | 1.7767 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.7644 | |
| Elder Ray (13): | 0.0001 | |
| Super Trend (3,10): | 1.7610 | |
| Zig ZAG (10): | 1.7739 | |
| VORTEX (21): | 1.0624 | |
| Stochastique (14,3,5): | 63.97 | |
| TEMA (21): | 1.7765 | |
| Williams %R (14): | -35.35 | |
| Chande Momentum Oscillator (20): | -0.0065 | |
| Repulse (5,40,3): | 0.0831 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0340 | |
| Courbe Coppock: | 1.08 |
| MA7: | 1.7555 | |
| MA20: | 1.7907 | |
| MA50: | 1.7785 | |
| MA100: | 1.7618 | |
| MAexp7: | 1.7742 | |
| MAexp20: | 1.7714 | |
| MAexp50: | 1.7638 | |
| MAexp100: | 1.7582 | |
| Price / MA7: | +1.08% | |
| Price / MA20: | -0.91% | |
| Price / MA50: | -0.23% | |
| Price / MA100: | +0.72% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | +0.17% | |
| Price / MAexp50: | +0.60% | |
| Price / MAexp100: | +0.92% |
Quotes :
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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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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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