CAD/NOK - 1H - Technical analysis published on 06/23/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 8.1980 NOK
My targets
8.3311 NOK (+0.0925)
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 8.1980 NOK. The buyers' bullish objective is set at 8.3311 NOK. A bullish break in this resistance would boost the bullish momentum. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.6
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
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Additional analysis
Quotes
The CAD/NOK price is 8.2386 NOK. The price has increased by +1.65% since the last closing with the lowest point at 8.1022 NOK and the highest point at 8.2588 NOK. The deviation from the price is +1.68% for the low point and -0.24% for the high point.8.1022
8.2588
8.2386
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:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of CAD/NOK in 1H shows a strongly overall 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. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Parabolic SAR indicator bearish reversal
Type : Bearish
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
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 8.0944 | 8.1619 | 8.1980 | 8.2386 |
| Change (%) | -1.75% | -0.93% | -0.49% | - |
| Change | -0.1442 | -0.0767 | -0.0406 | - |
| Level | Minor | Intermediate | 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 | 7.8873 | 7.9333 | 8.0191 | 8.0651 | 8.1509 | 8.1969 | 8.2827 |
| Camarilla | 8.0688 | 8.0808 | 8.0929 | 8.1050 | 8.1171 | 8.1292 | 8.1413 |
| Woodie | 7.9073 | 7.9433 | 8.0391 | 8.0751 | 8.1709 | 8.2069 | 8.3027 |
| Fibonacci | 7.9333 | 7.9836 | 8.0147 | 8.0651 | 8.1154 | 8.1465 | 8.1969 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.6771 | 7.7848 | 7.8951 | 8.0028 | 8.1131 | 8.2208 | 8.3311 |
| Camarilla | 7.9456 | 7.9655 | 7.9855 | 8.0055 | 8.0255 | 8.0455 | 8.0655 |
| Woodie | 7.6785 | 7.7855 | 7.8965 | 8.0035 | 8.1145 | 8.2215 | 8.3325 |
| Fibonacci | 7.7848 | 7.8680 | 7.9195 | 8.0028 | 8.0860 | 8.1375 | 8.2208 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.4029 | 7.6098 | 7.8837 | 8.0906 | 8.3645 | 8.5714 | 8.8453 |
| Camarilla | 8.0255 | 8.0696 | 8.1136 | 8.1577 | 8.2018 | 8.2459 | 8.2899 |
| Woodie | 7.4365 | 7.6266 | 7.9173 | 8.1074 | 8.3981 | 8.5882 | 8.8789 |
| Fibonacci | 7.6098 | 7.7934 | 7.9069 | 8.0906 | 8.2742 | 8.3877 | 8.5714 |
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): | 71.25 | |
| MACD (12,26,9): | 0.0377 | |
| Directional Movement: | 25.9705 | |
| AROON (14): | 78.5714 | |
| DEMA (21): | 8.2208 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.2588 | |
| Elder Ray (13): | 0.0251 | |
| Super Trend (3,10): | 8.1602 | |
| Zig ZAG (10): | 8.2325 | |
| VORTEX (21): | 1.2681 | |
| Stochastique (14,3,5): | 78.11 | |
| TEMA (21): | 8.2460 | |
| Williams %R (14): | -15.39 | |
| Chande Momentum Oscillator (20): | 0.0965 | |
| Repulse (5,40,3): | 0.3095 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0571 | |
| Courbe Coppock: | 2.74 |
| MA7: | 8.0815 | |
| MA20: | 8.1301 | |
| MA50: | 8.0062 | |
| MA100: | 7.8446 | |
| MAexp7: | 8.2164 | |
| MAexp20: | 8.1747 | |
| MAexp50: | 8.1326 | |
| MAexp100: | 8.1047 | |
| Price / MA7: | +1.94% | |
| Price / MA20: | +1.33% | |
| Price / MA50: | +2.90% | |
| Price / MA100: | +5.02% | |
| Price / MAexp7: | +0.27% | |
| Price / MAexp20: | +0.78% | |
| Price / MAexp50: | +1.30% | |
| Price / MAexp100: | +1.65% |
Quotes :
-
Real time data
-
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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