USD/NOK - 1H - Technical analysis published on 07/14/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
50%
28%
My opinion
Bearish under 10.0198 NOK
My targets
9.7187 NOK (-0.2267)
9.6658 NOK (-0.2796)
My analysis
USD/NOK is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 10.0198 NOK. The next support located at 9.7187 NOK is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 9.6658 NOK. Below this support, sellers could then target 9.2022 NOK. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
7
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
USD/NOK rating 9.9454 NOK. On the day, this instrument lost -0.01% with the lowest point at 9.9368 NOK and the highest point at 9.9657 NOK. The deviation from the price is +0.09% for the low point and -0.20% for the high point.9.9368
9.9657
9.9454
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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of USD/NOK in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Moving Average bearish crossovers : AMA20 & AMA50
Type : Bearish
Timeframe : 1 hour
In fact, of the 18 technical indicators analysed by Central Analyzer, 4 are bullish, 5 are neutral and 9 are bearish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Three black crows
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 8.9467 | 9.2022 | 9.7187 | 9.9454 | 10.0198 | 10.1249 | 10.2676 |
| Change (%) | -10.04% | -7.47% | -2.28% | - | +0.75% | +1.80% | +3.24% |
| Change | -0.9987 | -0.7432 | -0.2267 | - | +0.0744 | +0.1795 | +0.3222 |
| Level | Intermediate | Minor | Major | - | Minor | 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 | 9.6890 | 9.8124 | 9.8795 | 10.0029 | 10.0700 | 10.1934 | 10.2605 |
| Camarilla | 9.8941 | 9.9116 | 9.9290 | 9.9465 | 9.9640 | 9.9814 | 9.9989 |
| Woodie | 9.6608 | 9.7983 | 9.8513 | 9.9888 | 10.0418 | 10.1793 | 10.2323 |
| Fibonacci | 9.8124 | 9.8852 | 9.9302 | 10.0029 | 10.0757 | 10.1207 | 10.1934 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.2952 | 10.4478 | 10.5345 | 10.6871 | 10.7738 | 10.9264 | 11.0131 |
| Camarilla | 10.5553 | 10.5772 | 10.5992 | 10.6211 | 10.6430 | 10.6650 | 10.6869 |
| Woodie | 10.2622 | 10.4313 | 10.5015 | 10.6706 | 10.7408 | 10.9099 | 10.9801 |
| Fibonacci | 10.4478 | 10.5393 | 10.5957 | 10.6871 | 10.7786 | 10.8350 | 10.9264 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.6658 | 10.0668 | 10.4035 | 10.8045 | 11.1412 | 11.5422 | 11.8789 |
| Camarilla | 10.5374 | 10.6051 | 10.6727 | 10.7403 | 10.8079 | 10.8756 | 10.9432 |
| Woodie | 9.6338 | 10.0507 | 10.3715 | 10.7884 | 11.1092 | 11.5261 | 11.8469 |
| Fibonacci | 10.0668 | 10.3486 | 10.5227 | 10.8045 | 11.0863 | 11.2604 | 11.5422 |
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): | 25.57 | |
| MACD (12,26,9): | -0.0488 | |
| Directional Movement: | -22.1564 | |
| AROON (14): | -57.1429 | |
| DEMA (21): | 9.9243 | |
| Parabolic SAR (0,02-0,02-0,2): | 9.9657 | |
| Elder Ray (13): | -0.0263 | |
| Super Trend (3,10): | 10.0088 | |
| Zig ZAG (10): | 9.9393 | |
| VORTEX (21): | 0.7583 | |
| Stochastique (14,3,5): | 8.10 | |
| TEMA (21): | 9.9296 | |
| Williams %R (14): | -96.23 | |
| Chande Momentum Oscillator (20): | -0.0625 | |
| Repulse (5,40,3): | -0.1718 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0755 | |
| Courbe Coppock: | 1.85 |
| MA7: | 10.3155 | |
| MA20: | 10.5804 | |
| MA50: | 10.7372 | |
| MA100: | 10.6339 | |
| MAexp7: | 9.9526 | |
| MAexp20: | 9.9926 | |
| MAexp50: | 10.1018 | |
| MAexp100: | 10.2471 | |
| Price / MA7: | -3.59% | |
| Price / MA20: | -6.00% | |
| Price / MA50: | -7.37% | |
| Price / MA100: | -6.47% | |
| Price / MAexp7: | -0.07% | |
| Price / MAexp20: | -0.47% | |
| Price / MAexp50: | -1.55% | |
| Price / MAexp100: | -2.94% |
Quotes :
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Real time data
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Forex
News
The latest news and videos published on USD/NOK at the time of the analysis were as follows:
Sizeable correction possible on USD/NOK, Trade idea for IntelThis 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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