AUD/NOK - 1H - Technical analysis published on 05/26/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
22%
44%
33%
My opinion
Bearish under 7.0405 NOK
My targets
7.0039 NOK (-0.0227)
6.9294 NOK (-0.0972)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 7.0405 NOK remains possible. It is advisable to trade AUD/NOK with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 7.0405 NOK. The next bearish objective for sellers is set at 7.0039 NOK. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 6.9294 NOK. In case of crossing, the next objective would be the support located at 6.8525 NOK. PS: if there is a bullish break in the resistance located at 7.0405 NOK we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
4.6
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Additional analysis
Quotes
The AUD/NOK price is 7.0266 NOK. On the day, this instrument gained +0.21% and was between 7.0115 NOK and 7.0289 NOK. This implies that the price is at +0.22% from its lowest and at -0.03% from its highest.7.0115
7.0289
7.0266
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by AUD/NOK:
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
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this AUD/NOK chart shows a bearish trend. 78.57% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. There is no crossing of moving average by the price or crossing of moving averages between themselves.
On the 18 technical indicators analysed, 4 are bullish, 6 are neutral and 8 are bearish. Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Near support of channel
Type : Bullish
Timeframe : 1 hour
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
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 | 7.0039 | 7.0266 | 7.0405 | 7.0807 | 7.1006 |
| Change (%) | -2.48% | -1.38% | -0.32% | - | +0.20% | +0.77% | +1.05% |
| Change | -0.1741 | -0.0972 | -0.0227 | - | +0.0139 | +0.0541 | +0.0740 |
| Level | Major | Minor | Intermediate | - | Major | Minor | Minor |
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 | 6.9351 | 6.9653 | 6.9887 | 7.0189 | 7.0423 | 7.0725 | 7.0959 |
| Camarilla | 6.9973 | 7.0022 | 7.0071 | 7.0120 | 7.0169 | 7.0218 | 7.0267 |
| Woodie | 6.9316 | 6.9636 | 6.9852 | 7.0172 | 7.0388 | 7.0708 | 7.0924 |
| Fibonacci | 6.9653 | 6.9858 | 6.9985 | 7.0189 | 7.0394 | 7.0521 | 7.0725 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.7768 | 6.8862 | 6.9491 | 7.0585 | 7.1214 | 7.2308 | 7.2937 |
| Camarilla | 6.9646 | 6.9804 | 6.9962 | 7.0120 | 7.0278 | 7.0436 | 7.0594 |
| Woodie | 6.7536 | 6.8746 | 6.9259 | 7.0469 | 7.0982 | 7.2192 | 7.2705 |
| Fibonacci | 6.8862 | 6.9520 | 6.9927 | 7.0585 | 7.1243 | 7.1650 | 7.2308 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 30.87 | |
| MACD (12,26,9): | -0.0123 | |
| Directional Movement: | -20.6532 | |
| AROON (14): | -57.1429 | |
| DEMA (21): | 7.0073 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.9971 | |
| Elder Ray (13): | -0.0062 | |
| Super Trend (3,10): | 7.0324 | |
| Zig ZAG (10): | 7.0120 | |
| VORTEX (21): | 0.8133 | |
| Stochastique (14,3,5): | 35.61 | |
| TEMA (21): | 7.0067 | |
| Williams %R (14): | -67.27 | |
| Chande Momentum Oscillator (20): | -0.0213 | |
| Repulse (5,40,3): | -0.0434 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0274 | |
| Courbe Coppock: | 0.84 |
| MA7: | 7.0986 | |
| MA20: | 7.1516 | |
| MA50: | 7.0963 | |
| MA100: | 6.9968 | |
| MAexp7: | 7.0140 | |
| MAexp20: | 7.0243 | |
| MAexp50: | 7.0483 | |
| MAexp100: | 7.0746 | |
| Price / MA7: | -1.01% | |
| Price / MA20: | -1.75% | |
| Price / MA50: | -0.98% | |
| Price / MA100: | +0.43% | |
| Price / MAexp7: | +0.18% | |
| Price / MAexp20: | +0.03% | |
| Price / MAexp50: | -0.31% | |
| Price / MAexp100: | -0.68% |
Quotes :
-
Real time data
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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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