CAD/NOK - 1H - Technical analysis published on 02/02/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bullish
Technical indicators
17%
50%
33%
My opinion
Bearish under 7.8112 NOK
My targets
7.7797 NOK (-0.0153)
7.7282 NOK (-0.0668)
My analysis
The strong short-term decline in CAD/NOK calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 7.8112 NOK, one could consider taking advantage of the short-term movement. The first bearish objective is located at 7.7797 NOK. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 7.7282 NOK as an objective. Crossing it would then enable sellers to target 7.7079 NOK. Be careful, a return to above 7.8112 NOK could jeopardize the reversal.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
1.8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CAD/NOK rating is 7.7950 NOK. The price registered a decrease of -0.02% on the session and was traded between 7.7937 NOK and 7.8019 NOK over the period. The price is currently at +0.02% from its lowest and -0.09% from its highest.7.7937
7.8019
7.7950
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
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 slightly bullish. 53.57% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently being given by short-term moving averages indicate that this slightly bullish trend could be reversed. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish trend reversal : adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
In fact, only 9 technical indicators out of 18 studied are currently bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Ichimoku : price is over the cloud
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 7.7079 | 7.7282 | 7.7797 | 7.7950 | 7.8112 | 7.8215 | 7.8345 |
| Change (%) | -1.12% | -0.86% | -0.20% | - | +0.21% | +0.34% | +0.51% |
| Change | -0.0871 | -0.0668 | -0.0153 | - | +0.0162 | +0.0265 | +0.0395 |
| Level | Intermediate | Minor | Intermediate | - | Major | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.6853 | 7.7295 | 7.7629 | 7.8071 | 7.8405 | 7.8847 | 7.9181 |
| Camarilla | 7.7750 | 7.7821 | 7.7892 | 7.7963 | 7.8034 | 7.8105 | 7.8176 |
| Woodie | 7.6799 | 7.7268 | 7.7575 | 7.8044 | 7.8351 | 7.8820 | 7.9127 |
| Fibonacci | 7.7295 | 7.7591 | 7.7775 | 7.8071 | 7.8367 | 7.8551 | 7.8847 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.5591 | 7.6316 | 7.6894 | 7.7619 | 7.8197 | 7.8922 | 7.9500 |
| Camarilla | 7.7115 | 7.7234 | 7.7354 | 7.7473 | 7.7592 | 7.7712 | 7.7831 |
| Woodie | 7.5519 | 7.6279 | 7.6822 | 7.7582 | 7.8125 | 7.8885 | 7.9428 |
| Fibonacci | 7.6316 | 7.6813 | 7.7121 | 7.7619 | 7.8116 | 7.8424 | 7.8922 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.5439 | 7.6031 | 7.7169 | 7.7761 | 7.8899 | 7.9491 | 8.0629 |
| Camarilla | 7.7832 | 7.7991 | 7.8149 | 7.8308 | 7.8467 | 7.8625 | 7.8784 |
| Woodie | 7.5713 | 7.6168 | 7.7443 | 7.7898 | 7.9173 | 7.9628 | 8.0903 |
| Fibonacci | 7.6031 | 7.6692 | 7.7100 | 7.7761 | 7.8422 | 7.8830 | 7.9491 |
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): | 43.93 | |
| MACD (12,26,9): | -0.0049 | |
| Directional Movement: | -4.4362 | |
| AROON (14): | -42.8571 | |
| DEMA (21): | 7.8006 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.8162 | |
| Elder Ray (13): | -0.0040 | |
| Super Trend (3,10): | 7.8421 | |
| Zig ZAG (10): | 7.7971 | |
| VORTEX (21): | 0.9513 | |
| Stochastique (14,3,5): | 36.81 | |
| TEMA (21): | 7.7934 | |
| Williams %R (14): | -57.25 | |
| Chande Momentum Oscillator (20): | -0.0156 | |
| Repulse (5,40,3): | -0.0485 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0052 | |
| Courbe Coppock: | 0.69 |
| MA7: | 7.7831 | |
| MA20: | 7.7655 | |
| MA50: | 7.8121 | |
| MA100: | 7.9089 | |
| MAexp7: | 7.7990 | |
| MAexp20: | 7.8057 | |
| MAexp50: | 7.8049 | |
| MAexp100: | 7.7958 | |
| Price / MA7: | +0.15% | |
| Price / MA20: | +0.38% | |
| Price / MA50: | -0.22% | |
| Price / MA100: | -1.44% | |
| Price / MAexp7: | -0.05% | |
| Price / MAexp20: | -0.14% | |
| Price / MAexp50: | -0.13% | |
| Price / MAexp100: | -0.01% |
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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