CAD/NOK - 1H - Technical analysis published on 12/23/2019 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
11%
56%
33%
My opinion
Bearish under 6.8204 NOK
My targets
6.7527 NOK (-0.0497)
6.7283 NOK (-0.0741)
My analysis
The bearish trend is currently very strong for CAD/NOK. As long as the price remains below the resistance at 6.8204 NOK, you could try to take advantage of the bearish rally. The first bearish objective is located at 6.7527 NOK. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 6.7283 NOK as an objective. Crossing it would then enable sellers to target 6.5749 NOK. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
FORCE
0
10
7.5
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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 6.8024 NOK. On the day, this instrument lost -0.32% with the lowest point at 6.7986 NOK and the highest point at 6.8321 NOK. The deviation from the price is +0.06% for the low point and -0.43% for the high point.6.7986
6.8321
6.8024
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
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 (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CAD/NOK chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further decline is moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
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 | 6.5749 | 6.7283 | 6.8005 | 6.8024 | 6.8204 | 6.8338 | 6.8636 |
| Change (%) | -3.34% | -1.09% | -0.03% | - | +0.26% | +0.46% | +0.90% |
| Change | -0.2275 | -0.0741 | -0.0019 | - | +0.0180 | +0.0314 | +0.0612 |
| Level | Major | Intermediate | Minor | - | Intermediate | Major | 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 | 6.7647 | 6.7826 | 6.8034 | 6.8213 | 6.8421 | 6.8600 | 6.8808 |
| Camarilla | 6.8136 | 6.8171 | 6.8207 | 6.8242 | 6.8278 | 6.8313 | 6.8348 |
| Woodie | 6.7662 | 6.7833 | 6.8049 | 6.8220 | 6.8436 | 6.8607 | 6.8823 |
| Fibonacci | 6.7826 | 6.7974 | 6.8065 | 6.8213 | 6.8361 | 6.8452 | 6.8600 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.7050 | 6.7527 | 6.7885 | 6.8362 | 6.8720 | 6.9197 | 6.9555 |
| Camarilla | 6.8012 | 6.8089 | 6.8166 | 6.8242 | 6.8319 | 6.8395 | 6.8472 |
| Woodie | 6.6990 | 6.7497 | 6.7825 | 6.8332 | 6.8660 | 6.9167 | 6.9495 |
| Fibonacci | 6.7527 | 6.7846 | 6.8043 | 6.8362 | 6.8681 | 6.8878 | 6.9197 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.6985 | 6.7682 | 6.8549 | 6.9246 | 7.0113 | 7.0810 | 7.1677 |
| Camarilla | 6.8986 | 6.9129 | 6.9273 | 6.9416 | 6.9559 | 6.9703 | 6.9846 |
| Woodie | 6.7070 | 6.7725 | 6.8634 | 6.9289 | 7.0198 | 7.0853 | 7.1762 |
| Fibonacci | 6.7682 | 6.8279 | 6.8649 | 6.9246 | 6.9843 | 7.0213 | 7.0810 |
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): | 35.42 | |
| MACD (12,26,9): | -0.0056 | |
| Directional Movement: | -10.6562 | |
| AROON (14): | -28.5714 | |
| DEMA (21): | 6.8093 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.8267 | |
| Elder Ray (13): | -0.0110 | |
| Super Trend (3,10): | 6.8293 | |
| Zig ZAG (10): | 6.8032 | |
| VORTEX (21): | 0.9374 | |
| Stochastique (14,3,5): | 5.80 | |
| TEMA (21): | 6.8071 | |
| Williams %R (14): | -91.64 | |
| Chande Momentum Oscillator (20): | -0.0202 | |
| Repulse (5,40,3): | -0.1727 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0068 | |
| Courbe Coppock: | 0.37 |
| MA7: | 6.8420 | |
| MA20: | 6.8877 | |
| MA50: | 6.9221 | |
| MA100: | 6.8610 | |
| MAexp7: | 6.8102 | |
| MAexp20: | 6.8156 | |
| MAexp50: | 6.8250 | |
| MAexp100: | 6.8370 | |
| Price / MA7: | -0.58% | |
| Price / MA20: | -1.24% | |
| Price / MA50: | -1.73% | |
| Price / MA100: | -0.85% | |
| Price / MAexp7: | -0.11% | |
| Price / MAexp20: | -0.19% | |
| Price / MAexp50: | -0.33% | |
| Price / MAexp100: | -0.51% |
This member declared not having a position on this financial instrument or a related financial instrument.
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