Londinia Opportunities Analyses - 11/18/2024 (GMT) USD/NOK - 1H

- NOK (-)

- Real time data - Forex

Type:	Forex
Ticker:	USDNOK
ISIN:

Londinia

Oops, I was wrong about that analysis. My threshold for invalidation has been broken.

FX/Indices
Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

11%

72%

17%

My opinion

Bearish under 11.0299 NOK

My targets

10.9384 NOK (-0.0577)

10.8800 NOK (-0.1161)

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 11.0299 NOK. The next support located at 10.9384 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 10.8800 NOK. Below this support, sellers could then target 10.8189 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.

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

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

Additional analysis

Quotes

The USD/NOK price is 10.9961 NOK. The price registered a decrease of -0.79% on the session with the lowest point at 10.9865 NOK and the highest point at 11.1329 NOK. The deviation from the price is +0.09% for the low point and -1.23% for the high point.

10.9865

11.1329

10.9961

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of this 1H chart of USD/NOK indicates that the overall trend is strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

The probability of a further decline is high given the direction of the technical indicators.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is under support 1

Type : Neutral

Timeframe : 1 hour

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:

Near horizontal support

Type : Bullish

Timeframe : 1 hour

Support of channel is broken

Type : Bearish

Timeframe : 1 hour

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	10.8189	10.8800	10.9384	10.9961	11.0299	11.0853	11.1175
Change (%)	-1.61%	-1.06%	-0.52%	-	+0.31%	+0.81%	+1.10%
Change	-0.1772	-0.1161	-0.0577	-	+0.0338	+0.0892	+0.1214
Level	Intermediate	Major	Minor	-	Intermediate	Minor	Major

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	10.9061	10.9720	11.0278	11.0937	11.1495	11.2154	11.2712
Camarilla	11.0502	11.0614	11.0725	11.0837	11.0949	11.1060	11.1172
Woodie	10.9012	10.9695	11.0229	11.0912	11.1446	11.2129	11.2663
Fibonacci	10.9720	11.0185	11.0472	11.0937	11.1402	11.1689	11.2154

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	10.7723	10.8798	10.9817	11.0892	11.1911	11.2986	11.4005
Camarilla	11.0261	11.0453	11.0645	11.0837	11.1029	11.1221	11.1413
Woodie	10.7696	10.8784	10.9790	11.0878	11.1884	11.2972	11.3978
Fibonacci	10.8798	10.9598	11.0092	11.0892	11.1692	11.2186	11.2986

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	10.1373	10.3282	10.6627	10.8536	11.1881	11.3790	11.7135
Camarilla	10.8526	10.9008	10.9489	10.9971	11.0453	11.0934	11.1416
Woodie	10.2090	10.3641	10.7344	10.8895	11.2598	11.4149	11.7852
Fibonacci	10.3282	10.5289	10.6529	10.8536	11.0543	11.1783	11.3790

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):	31.66
MACD (12,26,9):	-0.0251
Directional Movement:	-15.8987
AROON (14):	-71.4286
DEMA (21):	11.0209
Parabolic SAR (0,02-0,02-0,2):	11.0750
Elder Ray (13):	-0.0342
Super Trend (3,10):	11.0729
Zig ZAG (10):	10.9994
VORTEX (21):	0.8666
Stochastique (14,3,5):	11.79
TEMA (21):	11.0049
Williams %R (14):	-92.96
Chande Momentum Oscillator (20):	-0.0939
Repulse (5,40,3):	-0.2244
ROCnROLL:	2
TRIX (15,9):	-0.0209
Courbe Coppock:	1.31

MA7:	11.0669
MA20:	11.0073
MA50:	10.8082
MA100:	10.7741
MAexp7:	11.0160
MAexp20:	11.0503
MAexp50:	11.0776
MAexp100:	11.0829
Price / MA7:	-0.64%
Price / MA20:	-0.10%
Price / MA50:	+1.74%
Price / MA100:	+2.06%
Price / MAexp7:	-0.18%
Price / MAexp20:	-0.49%
Price / MAexp50:	-0.74%
Price / MAexp100:	-0.78%

Quotes : - Real time data - Forex

News

The last news published on USD/NOK at the time of the generation of this analysis was as follows: