AUD/NOK - 1H - Technical analysis published on 08/08/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Bearish
Technical indicators
67%
6%
28%
My opinion
Bearish under 7.1157 NOK
My targets
7.0822 NOK (-0.0101)
7.0440 NOK (-0.0483)
My analysis
In a bearish trend, the price of AUD/NOK tries to inflate a little with a slight short-term rebound. At this stage, no trend reversal is in sight. Globally, sellers have the upper hand. Traders may allow themselves to trade short positions (for sale) as long as the price remains below the resistance located at 7.1157 NOK. A bearish break in the support located at 7.0822 NOK would revive the bearish momentum and fuel the basic trend. Then the price could move towards 7.0440 NOK. Then 6.9800 NOK by extension. It would be safer to wait for a bearish break in the support located at 7.0822 NOK before allowing yourself to re trade short positions (for sale) on AUD/NOK. PS: if there is a bullish break in the resistance located at 7.1157 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 in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
0
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Additional analysis
Quotes
The AUD/NOK price is 7.0923 NOK. The price has increased by +0.55% since the last closing and was traded between 7.0457 NOK and 7.0955 NOK over the period. The price is currently at +0.66% from its lowest and -0.05% from its highest.7.0457
7.0955
7.0923
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 year)
Type : Bearish
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 bearish trend. 67.86% of the signals given by moving averages are bearish. Caution: the slightly bullish signals currently being given by short-term moving averages indicate that this bearish trend may be slowing down. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
The technical indicators are bullish. There is still some doubt about the price increase.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 6.9800 | 7.0440 | 7.0822 | 7.0923 | 7.1157 | 7.1526 | 7.1909 |
| Change (%) | -1.58% | -0.68% | -0.14% | - | +0.33% | +0.85% | +1.39% |
| Change | -0.1123 | -0.0483 | -0.0101 | - | +0.0234 | +0.0603 | +0.0986 |
| Level | Major | Intermediate | Intermediate | - | Minor | 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 | 6.8977 | 6.9664 | 7.0100 | 7.0787 | 7.1223 | 7.1910 | 7.2346 |
| Camarilla | 7.0228 | 7.0331 | 7.0434 | 7.0537 | 7.0640 | 7.0743 | 7.0846 |
| Woodie | 6.8853 | 6.9601 | 6.9976 | 7.0724 | 7.1099 | 7.1847 | 7.2222 |
| Fibonacci | 6.9664 | 7.0093 | 7.0358 | 7.0787 | 7.1216 | 7.1481 | 7.1910 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.9168 | 6.9997 | 7.0640 | 7.1469 | 7.2112 | 7.2941 | 7.3584 |
| Camarilla | 7.0879 | 7.1014 | 7.1149 | 7.1284 | 7.1419 | 7.1554 | 7.1689 |
| Woodie | 6.9076 | 6.9951 | 7.0548 | 7.1423 | 7.2020 | 7.2895 | 7.3492 |
| Fibonacci | 6.9997 | 7.0559 | 7.0906 | 7.1469 | 7.2031 | 7.2378 | 7.2941 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.7921 | 6.9319 | 7.0375 | 7.1773 | 7.2829 | 7.4227 | 7.5283 |
| Camarilla | 7.0756 | 7.0981 | 7.1206 | 7.1431 | 7.1656 | 7.1881 | 7.2106 |
| Woodie | 6.7750 | 6.9234 | 7.0204 | 7.1688 | 7.2658 | 7.4142 | 7.5112 |
| Fibonacci | 6.9319 | 7.0256 | 7.0836 | 7.1773 | 7.2710 | 7.3290 | 7.4227 |
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): | 59.16 | |
| MACD (12,26,9): | -0.0046 | |
| Directional Movement: | 6.4471 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 7.0627 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.0510 | |
| Elder Ray (13): | 0.0154 | |
| Super Trend (3,10): | 7.0977 | |
| Zig ZAG (10): | 7.0934 | |
| VORTEX (21): | 1.0528 | |
| Stochastique (14,3,5): | 90.01 | |
| TEMA (21): | 7.0712 | |
| Williams %R (14): | -2.65 | |
| Chande Momentum Oscillator (20): | 0.0505 | |
| Repulse (5,40,3): | 0.4273 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0243 | |
| Courbe Coppock: | 0.49 |
| MA7: | 7.1169 | |
| MA20: | 7.2020 | |
| MA50: | 7.1262 | |
| MA100: | 7.1120 | |
| MAexp7: | 7.0755 | |
| MAexp20: | 7.0722 | |
| MAexp50: | 7.0901 | |
| MAexp100: | 7.1095 | |
| Price / MA7: | -0.35% | |
| Price / MA20: | -1.52% | |
| Price / MA50: | -0.48% | |
| Price / MA100: | -0.28% | |
| Price / MAexp7: | +0.24% | |
| Price / MAexp20: | +0.29% | |
| Price / MAexp50: | +0.04% | |
| Price / MAexp100: | -0.24% |
Quotes :
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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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