NZD/NOK - 1H - Technical analysis published on 10/23/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
44%
33%
My opinion
Bearish under 6.6346 NOK
My targets
6.5932 NOK (-0.0067)
6.5703 NOK (-0.0296)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on NZD/NOK as long as the price remains well below 6.6346 NOK. The sellers' bearish objective is set at 6.5932 NOK. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 6.5703 NOK. In case of crossing, the next objective would be the support located at 6.5432 NOK. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
6.4
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NZD/NOK rating is 6.5999 NOK. The price is lower by -0.03% since the last closing and was between 6.5853 NOK and 6.6263 NOK. This implies that the price is at +0.22% from its lowest and at -0.40% from its highest.6.5853
6.6263
6.5999
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
Here is a more detailed summary of the historical variations registered by NZD/NOK:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
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 this 1H chart of NZD/NOK indicates that the overall trend is strongly bearish. 89.29% 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. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
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
Support of channel is broken
Type : Bearish
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 | 6.5432 | 6.5703 | 6.5932 | 6.5999 | 6.6346 | 6.6617 | 6.7114 |
| Change (%) | -0.86% | -0.45% | -0.10% | - | +0.53% | +0.94% | +1.69% |
| Change | -0.0567 | -0.0296 | -0.0067 | - | +0.0347 | +0.0618 | +0.1115 |
| Level | Minor | Major | Major | - | Major | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.5557 | 6.5745 | 6.5881 | 6.6069 | 6.6205 | 6.6393 | 6.6529 |
| Camarilla | 6.5929 | 6.5959 | 6.5988 | 6.6018 | 6.6048 | 6.6077 | 6.6107 |
| Woodie | 6.5532 | 6.5732 | 6.5856 | 6.6056 | 6.6180 | 6.6380 | 6.6504 |
| Fibonacci | 6.5745 | 6.5868 | 6.5945 | 6.6069 | 6.6192 | 6.6269 | 6.6393 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.4281 | 6.4727 | 6.5520 | 6.5966 | 6.6759 | 6.7205 | 6.7998 |
| Camarilla | 6.5971 | 6.6085 | 6.6198 | 6.6312 | 6.6426 | 6.6539 | 6.6653 |
| Woodie | 6.4454 | 6.4814 | 6.5693 | 6.6053 | 6.6932 | 6.7292 | 6.8171 |
| Fibonacci | 6.4727 | 6.5201 | 6.5493 | 6.5966 | 6.6440 | 6.6732 | 6.7205 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.3846 | 6.4553 | 6.5741 | 6.6448 | 6.7636 | 6.8343 | 6.9531 |
| Camarilla | 6.6407 | 6.6581 | 6.6754 | 6.6928 | 6.7102 | 6.7275 | 6.7449 |
| Woodie | 6.4086 | 6.4673 | 6.5981 | 6.6568 | 6.7876 | 6.8463 | 6.9771 |
| Fibonacci | 6.4553 | 6.5277 | 6.5724 | 6.6448 | 6.7172 | 6.7619 | 6.8343 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 43.83 | |
| MACD (12,26,9): | 0.0001 | |
| Directional Movement: | -1.8826 | |
| AROON (14): | 57.1428 | |
| DEMA (21): | 6.6066 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.6247 | |
| Elder Ray (13): | -0.0088 | |
| Super Trend (3,10): | 6.5897 | |
| Zig ZAG (10): | 6.5986 | |
| VORTEX (21): | 0.9986 | |
| Stochastique (14,3,5): | 39.92 | |
| TEMA (21): | 6.6080 | |
| Williams %R (14): | -67.07 | |
| Chande Momentum Oscillator (20): | -0.0015 | |
| Repulse (5,40,3): | -0.1542 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0013 | |
| Courbe Coppock: | 0.30 |
| MA7: | 6.6021 | |
| MA20: | 6.5981 | |
| MA50: | 6.5780 | |
| MA100: | 6.5437 | |
| MAexp7: | 6.6058 | |
| MAexp20: | 6.6066 | |
| MAexp50: | 6.6080 | |
| MAexp100: | 6.6072 | |
| Price / MA7: | -0.03% | |
| Price / MA20: | +0.03% | |
| Price / MA50: | +0.33% | |
| Price / MA100: | +0.86% | |
| Price / MAexp7: | -0.09% | |
| Price / MAexp20: | -0.10% | |
| Price / MAexp50: | -0.12% | |
| Price / MAexp100: | -0.11% |
Quotes :
-
Real time data
-
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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