EUR/NOK - 1H - Technical analysis published on 11/07/2023 (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
83%
0%
17%
My opinion
Bullish above 11.9033 NOK
My targets
12.0020 NOK (+0.0735)
12.0321 NOK (+0.1036)
My analysis
The bullish trend is currently very strong on EUR/NOK. As long as the price remains above the support at 11.9033 NOK, you could try to benefit from the boom. The first bullish objective is located at 12.0020 NOK. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 12.0321 NOK as an objective. Crossing it would then enable buyers to target 12.5716 NOK. 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
8.8
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Additional analysis
Quotes
The EUR/NOK price is 11.9285 NOK. The price has increased by +0.71% since the last closing and was traded between 11.8376 NOK and 11.9394 NOK over the period. The price is currently at +0.77% from its lowest and -0.09% from its highest.11.8376
11.9394
11.9285
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by EUR/NOK:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this EUR/NOK chart shows a strongly bullish trend. 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. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, 15 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
RSI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 11.8705 | 11.8844 | 11.9033 | 11.9285 | 12.0020 | 12.5716 |
| Change (%) | -0.49% | -0.37% | -0.21% | - | +0.62% | +5.39% |
| Change | -0.0580 | -0.0441 | -0.0252 | - | +0.0735 | +0.6431 |
| Level | Minor | Minor | Intermediate | - | Major | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.7636 | 11.7924 | 11.8186 | 11.8474 | 11.8736 | 11.9024 | 11.9286 |
| Camarilla | 11.8296 | 11.8346 | 11.8397 | 11.8447 | 11.8497 | 11.8548 | 11.8598 |
| Woodie | 11.7622 | 11.7918 | 11.8172 | 11.8468 | 11.8722 | 11.9018 | 11.9272 |
| Fibonacci | 11.7924 | 11.8134 | 11.8264 | 11.8474 | 11.8684 | 11.8814 | 11.9024 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.6592 | 11.7192 | 11.7835 | 11.8435 | 11.9078 | 11.9678 | 12.0321 |
| Camarilla | 11.8136 | 11.8250 | 11.8364 | 11.8478 | 11.8592 | 11.8706 | 11.8820 |
| Woodie | 11.6614 | 11.7203 | 11.7857 | 11.8446 | 11.9100 | 11.9689 | 12.0343 |
| Fibonacci | 11.7192 | 11.7667 | 11.7960 | 11.8435 | 11.8910 | 11.9203 | 11.9678 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.8132 | 11.0398 | 11.4313 | 11.6579 | 12.0494 | 12.2760 | 12.6675 |
| Camarilla | 11.6529 | 11.7096 | 11.7662 | 11.8229 | 11.8796 | 11.9362 | 11.9929 |
| Woodie | 10.8958 | 11.0810 | 11.5139 | 11.6991 | 12.1320 | 12.3172 | 12.7501 |
| Fibonacci | 11.0398 | 11.2759 | 11.4218 | 11.6579 | 11.8940 | 12.0399 | 12.2760 |
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): | 70.94 | |
| MACD (12,26,9): | 0.0191 | |
| Directional Movement: | 11.8678 | |
| AROON (14): | 78.5714 | |
| DEMA (21): | 11.9049 | |
| Parabolic SAR (0,02-0,02-0,2): | 11.8518 | |
| Elder Ray (13): | 0.0293 | |
| Super Trend (3,10): | 11.8635 | |
| Zig ZAG (10): | 11.9205 | |
| VORTEX (21): | 1.2220 | |
| Stochastique (14,3,5): | 82.40 | |
| TEMA (21): | 11.9208 | |
| Williams %R (14): | -12.67 | |
| Chande Momentum Oscillator (20): | 0.0787 | |
| Repulse (5,40,3): | 0.1761 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0143 | |
| Courbe Coppock: | 0.99 |
| MA7: | 11.8446 | |
| MA20: | 11.7369 | |
| MA50: | 11.5758 | |
| MA100: | 11.5046 | |
| MAexp7: | 11.9099 | |
| MAexp20: | 11.8831 | |
| MAexp50: | 11.8643 | |
| MAexp100: | 11.8528 | |
| Price / MA7: | +0.71% | |
| Price / MA20: | +1.63% | |
| Price / MA50: | +3.05% | |
| Price / MA100: | +3.68% | |
| Price / MAexp7: | +0.16% | |
| Price / MAexp20: | +0.38% | |
| Price / MAexp50: | +0.54% | |
| Price / MAexp100: | +0.64% |
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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