CAD/NOK - 1H - Technical analysis published on 12/07/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 6.9080 NOK
My targets
6.9682 NOK (+0.0437)
7.0424 NOK (+0.1179)
My analysis
The bullish trend is currently very strong on CAD/NOK. As long as the price remains above the support at 6.9080 NOK, you could try to benefit from the boom. The first bullish objective is located at 6.9682 NOK. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 7.0424 NOK as an objective. Crossing it would then enable buyers to target 7.0626 NOK. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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 bullish opinion of this analysis. 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
CAD/NOK rating 6.9245 NOK. The price registered an increase of +0.53% on the session and was between 6.8819 NOK and 6.9428 NOK. This implies that the price is at +0.62% from its lowest and at -0.26% from its highest.6.8819
6.9428
6.9245
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 LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CAD/NOK chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 15 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 6.8431 | 6.8693 | 6.9080 | 6.9245 | 7.0626 | 7.3103 | 7.6047 |
| Change (%) | -1.18% | -0.80% | -0.24% | - | +1.99% | +5.57% | +9.82% |
| Change | -0.0814 | -0.0552 | -0.0165 | - | +0.1381 | +0.3858 | +0.6802 |
| Level | Minor | Minor | Major | - | Intermediate | Intermediate | 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 | 6.7331 | 6.7665 | 6.8271 | 6.8605 | 6.9211 | 6.9545 | 7.0151 |
| Camarilla | 6.8619 | 6.8705 | 6.8791 | 6.8877 | 6.8963 | 6.9049 | 6.9136 |
| Woodie | 6.7467 | 6.7733 | 6.8407 | 6.8673 | 6.9347 | 6.9613 | 7.0287 |
| Fibonacci | 6.7665 | 6.8024 | 6.8246 | 6.8605 | 6.8964 | 6.9186 | 6.9545 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.6989 | 6.7392 | 6.8134 | 6.8537 | 6.9279 | 6.9682 | 7.0424 |
| Camarilla | 6.8562 | 6.8667 | 6.8772 | 6.8877 | 6.8982 | 6.9087 | 6.9192 |
| Woodie | 6.7160 | 6.7477 | 6.8305 | 6.8622 | 6.9450 | 6.9767 | 7.0595 |
| Fibonacci | 6.7392 | 6.7829 | 6.8099 | 6.8537 | 6.8974 | 6.9244 | 6.9682 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.1917 | 6.4855 | 6.6621 | 6.9559 | 7.1325 | 7.4263 | 7.6029 |
| Camarilla | 6.7092 | 6.7524 | 6.7955 | 6.8386 | 6.8817 | 6.9248 | 6.9680 |
| Woodie | 6.1330 | 6.4562 | 6.6034 | 6.9266 | 7.0738 | 7.3970 | 7.5442 |
| Fibonacci | 6.4855 | 6.6652 | 6.7762 | 6.9559 | 7.1356 | 7.2466 | 7.4263 |
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): | 80.14 | |
| MACD (12,26,9): | 0.0178 | |
| Directional Movement: | 25.6650 | |
| AROON (14): | 100.0000 | |
| DEMA (21): | 6.9002 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.8845 | |
| Elder Ray (13): | 0.0153 | |
| Super Trend (3,10): | 6.8621 | |
| Zig ZAG (10): | 6.9094 | |
| VORTEX (21): | 1.2716 | |
| Stochastique (14,3,5): | 71.94 | |
| TEMA (21): | 6.9053 | |
| Williams %R (14): | -11.89 | |
| Chande Momentum Oscillator (20): | 0.0261 | |
| Repulse (5,40,3): | 0.2982 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0389 | |
| Courbe Coppock: | 0.89 |
| MA7: | 6.8380 | |
| MA20: | 6.8784 | |
| MA50: | 6.9761 | |
| MA100: | 6.9016 | |
| MAexp7: | 6.8924 | |
| MAexp20: | 6.8765 | |
| MAexp50: | 6.8518 | |
| MAexp100: | 6.8382 | |
| Price / MA7: | +1.26% | |
| Price / MA20: | +0.67% | |
| Price / MA50: | -0.74% | |
| Price / MA100: | +0.33% | |
| Price / MAexp7: | +0.46% | |
| Price / MAexp20: | +0.69% | |
| Price / MAexp50: | +1.06% | |
| Price / MAexp100: | +1.26% |
Quotes :
2020-12-07 08:38:48
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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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