CAD/NOK - 1H - Technical analysis published on 06/04/2020 (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
Court terme:
Neutral
De fond:
Bearish
Technical indicators
67%
0%
33%
My opinion
Bearish under 7.0626 NOK
My targets
7.0044 NOK (-0.0199)
6.9864 NOK (-0.0379)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on CAD/NOK. As long as you are under the resistance located at 7.0626 NOK, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 7.0044 NOK would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 6.9864 NOK as an objective. Crossing it would then enable sellers to target 6.8956 NOK. If the resistance 7.0626 NOK were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
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
1.1
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CAD/NOK rating is 7.0243 NOK. The price registered an increase of +0.27% on the session and was traded between 7.0049 NOK and 7.0317 NOK over the period. The price is currently at +0.28% from its lowest and -0.11% from its highest.7.0049
7.0317
7.0243
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 CAD/NOK:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of CAD/NOK indicates that the overall trend is bearish. 75.00% 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. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 12 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Aroon indicator bullish trend
Type : Bullish
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 this result:
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 6.8956 | 6.9864 | 7.0044 | 7.0243 | 7.0626 | 7.0811 | 7.1460 |
| Change (%) | -1.83% | -0.54% | -0.28% | - | +0.55% | +0.81% | +1.73% |
| Change | -0.1287 | -0.0379 | -0.0199 | - | +0.0383 | +0.0568 | +0.1217 |
| Level | Intermediate | Intermediate | Minor | - | Major | Minor | Intermediate |
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 | 6.9059 | 6.9461 | 6.9759 | 7.0161 | 7.0459 | 7.0861 | 7.1159 |
| Camarilla | 6.9864 | 6.9928 | 6.9992 | 7.0056 | 7.0120 | 7.0184 | 7.0249 |
| Woodie | 6.9006 | 6.9435 | 6.9706 | 7.0135 | 7.0406 | 7.0835 | 7.1106 |
| Fibonacci | 6.9461 | 6.9729 | 6.9894 | 7.0161 | 7.0429 | 7.0594 | 7.0861 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.8023 | 6.9135 | 6.9861 | 7.0973 | 7.1699 | 7.2811 | 7.3537 |
| Camarilla | 7.0081 | 7.0249 | 7.0418 | 7.0586 | 7.0755 | 7.0923 | 7.1092 |
| Woodie | 6.7829 | 6.9039 | 6.9667 | 7.0877 | 7.1505 | 7.2715 | 7.3343 |
| Fibonacci | 6.9135 | 6.9837 | 7.0271 | 7.0973 | 7.1675 | 7.2109 | 7.2811 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.5260 | 6.7754 | 6.9170 | 7.1664 | 7.3080 | 7.5574 | 7.6990 |
| Camarilla | 6.9511 | 6.9869 | 7.0228 | 7.0586 | 7.0944 | 7.1303 | 7.1661 |
| Woodie | 6.4721 | 6.7485 | 6.8631 | 7.1395 | 7.2541 | 7.5305 | 7.6451 |
| Fibonacci | 6.7754 | 6.9248 | 7.0170 | 7.1664 | 7.3158 | 7.4080 | 7.5574 |
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): | 48.62 | |
| MACD (12,26,9): | -0.0039 | |
| Directional Movement: | -3.1431 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 7.0136 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.9906 | |
| Elder Ray (13): | 0.0025 | |
| Super Trend (3,10): | 7.0525 | |
| Zig ZAG (10): | 7.0216 | |
| VORTEX (21): | 1.0330 | |
| Stochastique (14,3,5): | 90.99 | |
| TEMA (21): | 7.0203 | |
| Williams %R (14): | -13.51 | |
| Chande Momentum Oscillator (20): | 0.0274 | |
| Repulse (5,40,3): | 0.1344 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0171 | |
| Courbe Coppock: | 0.12 |
| MA7: | 7.0710 | |
| MA20: | 7.1596 | |
| MA50: | 7.3051 | |
| MA100: | 7.2017 | |
| MAexp7: | 7.0240 | |
| MAexp20: | 7.0213 | |
| MAexp50: | 7.0362 | |
| MAexp100: | 7.0587 | |
| Price / MA7: | -0.66% | |
| Price / MA20: | -1.89% | |
| Price / MA50: | -3.84% | |
| Price / MA100: | -2.46% | |
| Price / MAexp7: | +0.00% | |
| Price / MAexp20: | +0.04% | |
| Price / MAexp50: | -0.17% | |
| Price / MAexp100: | -0.49% |
Quotes :
2020-06-04 06:59:49
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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.
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