AUD/NOK - 1H - Technical analysis published on 05/24/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
67%
17%
My opinion
Bearish under 7.0807 NOK
My targets
7.0420 NOK (-0.0015)
6.9393 NOK (-0.1042)
My analysis
The bearish trend is currently very strong for AUD/NOK. As long as the price remains below the resistance at 7.0807 NOK, you could try to take advantage of the bearish rally. The first bearish objective is located at 7.0420 NOK. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 6.9393 NOK as an objective. Crossing it would then enable sellers to target 6.9294 NOK. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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 bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7.7
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The AUD/NOK price is 7.0435 NOK. On the day, this instrument gained +0.00% with the lowest point at 7.0407 NOK and the highest point at 7.0491 NOK. The deviation from the price is +0.04% for the low point and -0.08% for the high point.7.0407
7.0491
7.0435
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 HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this AUD/NOK chart shows a sharp bearish trend. 92.86% 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. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 12 technical indicators on 18 studied are currently bearish. Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 6.8525 | 6.9294 | 7.0405 | 7.0435 | 7.0807 | 7.1006 | 7.1144 |
| Change (%) | -2.71% | -1.62% | -0.04% | - | +0.53% | +0.81% | +1.01% |
| Change | -0.1910 | -0.1141 | -0.0030 | - | +0.0372 | +0.0571 | +0.0709 |
| Level | Major | Minor | Major | - | Intermediate | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.9603 | 6.9986 | 7.0212 | 7.0595 | 7.0821 | 7.1204 | 7.1430 |
| Camarilla | 7.0271 | 7.0326 | 7.0382 | 7.0438 | 7.0494 | 7.0550 | 7.0606 |
| Woodie | 6.9525 | 6.9947 | 7.0134 | 7.0556 | 7.0743 | 7.1165 | 7.1352 |
| Fibonacci | 6.9986 | 7.0219 | 7.0362 | 7.0595 | 7.0828 | 7.0971 | 7.1204 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.0420 | 7.0820 | 7.1151 | 7.1551 | 7.1882 | 7.2282 | 7.2613 |
| Camarilla | 7.1282 | 7.1349 | 7.1416 | 7.1483 | 7.1550 | 7.1617 | 7.1684 |
| Woodie | 7.0387 | 7.0803 | 7.1118 | 7.1534 | 7.1849 | 7.2265 | 7.2580 |
| Fibonacci | 7.0820 | 7.1099 | 7.1271 | 7.1551 | 7.1830 | 7.2002 | 7.2282 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.8562 | 6.9393 | 7.0688 | 7.1519 | 7.2814 | 7.3645 | 7.4940 |
| Camarilla | 7.1398 | 7.1593 | 7.1788 | 7.1983 | 7.2178 | 7.2373 | 7.2568 |
| Woodie | 6.8794 | 6.9509 | 7.0920 | 7.1635 | 7.3046 | 7.3761 | 7.5172 |
| Fibonacci | 6.9393 | 7.0205 | 7.0707 | 7.1519 | 7.2331 | 7.2833 | 7.3645 |
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): | 30.71 | |
| MACD (12,26,9): | -0.0109 | |
| Directional Movement: | -17.9424 | |
| AROON (14): | 14.2857 | |
| DEMA (21): | 7.0447 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.0530 | |
| Elder Ray (13): | -0.0096 | |
| Super Trend (3,10): | 7.0717 | |
| Zig ZAG (10): | 7.0435 | |
| VORTEX (21): | 0.7711 | |
| Stochastique (14,3,5): | 24.78 | |
| TEMA (21): | 7.0432 | |
| Williams %R (14): | -68.89 | |
| Chande Momentum Oscillator (20): | -0.0031 | |
| Repulse (5,40,3): | -0.0389 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0226 | |
| Courbe Coppock: | 0.48 |
| MA7: | 7.1033 | |
| MA20: | 7.1532 | |
| MA50: | 7.0969 | |
| MA100: | 6.9971 | |
| MAexp7: | 7.0492 | |
| MAexp20: | 7.0593 | |
| MAexp50: | 7.0788 | |
| MAexp100: | 7.0987 | |
| Price / MA7: | -0.84% | |
| Price / MA20: | -1.53% | |
| Price / MA50: | -0.75% | |
| Price / MA100: | +0.66% | |
| Price / MAexp7: | -0.08% | |
| Price / MAexp20: | -0.22% | |
| Price / MAexp50: | -0.50% | |
| Price / MAexp100: | -0.78% |
Quotes :
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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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