CAD/NOK - 1H - Technical analysis published on 10/15/2020 (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:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 7.0214 NOK
My targets
7.0626 NOK (+0.0072)
7.1532 NOK (+0.0978)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on CAD/NOK as long as the price remains well above 7.0214 NOK. The buyers” bullish objective is set at 7.0626 NOK. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 7.1532 NOK. If there is any crossing, the next objective would be the resistance located at 7.3103 NOK. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.6
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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 7.0554 NOK. The price registered an increase of +0.27% on the session and was traded between 7.0202 NOK and 7.0554 NOK over the period. The price is currently at +0.50% from its lowest and 0% from its highest.7.0202
7.0554
7.0554
The Central Gaps scanner detects a bullish opening. A small advantage for buyers 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:
Technical
Technical analysis of this 1H chart of CAD/NOK indicates that the overall trend is strongly bullish. 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 scanner detects a bullish signal on moving averages that could impact this trend:
Moving Average bullish crossovers : AMA50 & AMA100
Type : Bullish
Timeframe : 1 hour
In fact, 14 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
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 presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 6.9503 | 6.9900 | 7.0214 | 7.0554 | 7.0626 | 7.3103 | 7.6047 |
| Change (%) | -1.49% | -0.93% | -0.48% | - | +0.10% | +3.61% | +7.79% |
| Change | -0.1051 | -0.0654 | -0.0340 | - | +0.0072 | +0.2549 | +0.5493 |
| Level | Minor | Minor | Intermediate | - | Major | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.9319 | 6.9609 | 6.9986 | 7.0276 | 7.0653 | 7.0943 | 7.1320 |
| Camarilla | 7.0179 | 7.0240 | 7.0301 | 7.0362 | 7.0423 | 7.0484 | 7.0545 |
| Woodie | 6.9362 | 6.9631 | 7.0029 | 7.0298 | 7.0696 | 7.0965 | 7.1363 |
| Fibonacci | 6.9609 | 6.9864 | 7.0022 | 7.0276 | 7.0531 | 7.0689 | 7.0943 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.7869 | 6.8560 | 6.9090 | 6.9781 | 7.0311 | 7.1002 | 7.1532 |
| Camarilla | 6.9285 | 6.9397 | 6.9509 | 6.9621 | 6.9733 | 6.9845 | 6.9957 |
| Woodie | 6.7790 | 6.8520 | 6.9011 | 6.9741 | 7.0232 | 7.0962 | 7.1453 |
| Fibonacci | 6.8560 | 6.9026 | 6.9314 | 6.9781 | 7.0247 | 7.0535 | 7.1002 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.1913 | 6.4230 | 6.7161 | 6.9478 | 7.2409 | 7.4726 | 7.7657 |
| Camarilla | 6.8649 | 6.9130 | 6.9611 | 7.0092 | 7.0573 | 7.1054 | 7.1535 |
| Woodie | 6.2220 | 6.4384 | 6.7468 | 6.9632 | 7.2716 | 7.4880 | 7.7964 |
| Fibonacci | 6.4230 | 6.6235 | 6.7473 | 6.9478 | 7.1483 | 7.2721 | 7.4726 |
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): | 62.55 | |
| MACD (12,26,9): | 0.0048 | |
| Directional Movement: | 8.2504 | |
| AROON (14): | 42.8571 | |
| DEMA (21): | 7.0352 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.0206 | |
| Elder Ray (13): | 0.0059 | |
| Super Trend (3,10): | 7.0404 | |
| Zig ZAG (10): | 7.0373 | |
| VORTEX (21): | 0.9951 | |
| Stochastique (14,3,5): | 71.91 | |
| TEMA (21): | 7.0346 | |
| Williams %R (14): | -28.61 | |
| Chande Momentum Oscillator (20): | 0.0141 | |
| Repulse (5,40,3): | 0.0952 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0070 | |
| Courbe Coppock: | 0.57 |
| MA7: | 7.0087 | |
| MA20: | 7.0211 | |
| MA50: | 6.8814 | |
| MA100: | 6.9115 | |
| MAexp7: | 7.0352 | |
| MAexp20: | 7.0292 | |
| MAexp50: | 7.0198 | |
| MAexp100: | 7.0101 | |
| Price / MA7: | +0.67% | |
| Price / MA20: | +0.49% | |
| Price / MA50: | +2.53% | |
| Price / MA100: | +2.08% | |
| Price / MAexp7: | +0.29% | |
| Price / MAexp20: | +0.37% | |
| Price / MAexp50: | +0.51% | |
| Price / MAexp100: | +0.65% |
Quotes :
2020-10-15 06:49:52
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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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