NOK/ZAR - 1H - Technical analysis published on 11/11/2024 (GMT)
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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:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 1.6186 ZAR
My targets
1.6377 ZAR (+0.0124)
1.6603 ZAR (+0.0350)
My analysis
The bullish trend is currently very strong on NOK/ZAR. As long as the price remains above the support at 1.6186 ZAR, you could try to benefit from the boom. The first bullish objective is located at 1.6377 ZAR. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.6603 ZAR as an objective. Crossing it would then enable buyers to target 1.7007 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.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.6
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Additional analysis
Quotes
The NOK/ZAR rating is 1.6253 ZAR. On the day, this instrument gained +1.68% with the lowest point at 1.5946 ZAR and the highest point at 1.6283 ZAR. The deviation from the price is +1.93% for the low point and -0.18% for the high point.1.5946
1.6283
1.6253
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 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 NOK/ZAR in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Resistance of channel is broken
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 | 1.6061 | 1.6148 | 1.6186 | 1.6253 | 1.6377 | 1.6603 | 1.7007 |
| Change (%) | -1.18% | -0.65% | -0.41% | - | +0.76% | +2.15% | +4.64% |
| Change | -0.0192 | -0.0105 | -0.0067 | - | +0.0124 | +0.0350 | +0.0754 |
| Level | Intermediate | Minor | Intermediate | - | Minor | Major | 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 | 1.5737 | 1.5816 | 1.5901 | 1.5980 | 1.6065 | 1.6144 | 1.6229 |
| Camarilla | 1.5940 | 1.5955 | 1.5970 | 1.5985 | 1.6000 | 1.6015 | 1.6030 |
| Woodie | 1.5739 | 1.5818 | 1.5903 | 1.5982 | 1.6067 | 1.6146 | 1.6231 |
| Fibonacci | 1.5816 | 1.5879 | 1.5918 | 1.5980 | 1.6043 | 1.6082 | 1.6144 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.5632 | 1.5732 | 1.5859 | 1.5959 | 1.6086 | 1.6186 | 1.6313 |
| Camarilla | 1.5923 | 1.5943 | 1.5964 | 1.5985 | 1.6006 | 1.6027 | 1.6047 |
| Woodie | 1.5645 | 1.5739 | 1.5872 | 1.5966 | 1.6099 | 1.6193 | 1.6326 |
| Fibonacci | 1.5732 | 1.5819 | 1.5873 | 1.5959 | 1.6046 | 1.6100 | 1.6186 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.5246 | 1.5614 | 1.5810 | 1.6178 | 1.6374 | 1.6742 | 1.6938 |
| Camarilla | 1.5851 | 1.5903 | 1.5954 | 1.6006 | 1.6058 | 1.6109 | 1.6161 |
| Woodie | 1.5160 | 1.5571 | 1.5724 | 1.6135 | 1.6288 | 1.6699 | 1.6852 |
| Fibonacci | 1.5614 | 1.5829 | 1.5963 | 1.6178 | 1.6393 | 1.6527 | 1.6742 |
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): | 75.20 | |
| MACD (12,26,9): | 0.0074 | |
| Directional Movement: | 24.9981 | |
| AROON (14): | 92.8571 | |
| DEMA (21): | 1.6234 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.6192 | |
| Elder Ray (13): | 0.0066 | |
| Super Trend (3,10): | 1.6134 | |
| Zig ZAG (10): | 1.6253 | |
| VORTEX (21): | 1.3014 | |
| Stochastique (14,3,5): | 92.93 | |
| TEMA (21): | 1.6278 | |
| Williams %R (14): | -9.28 | |
| Chande Momentum Oscillator (20): | 0.0246 | |
| Repulse (5,40,3): | 0.0689 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0510 | |
| Courbe Coppock: | 2.99 |
| MA7: | 1.5985 | |
| MA20: | 1.6077 | |
| MA50: | 1.6331 | |
| MA100: | 1.6620 | |
| MAexp7: | 1.6233 | |
| MAexp20: | 1.6146 | |
| MAexp50: | 1.6060 | |
| MAexp100: | 1.6015 | |
| Price / MA7: | +1.68% | |
| Price / MA20: | +1.09% | |
| Price / MA50: | -0.48% | |
| Price / MA100: | -2.21% | |
| Price / MAexp7: | +0.12% | |
| Price / MAexp20: | +0.66% | |
| Price / MAexp50: | +1.20% | |
| Price / MAexp100: | +1.49% |
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.
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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