CAD/NOK - 1H - Technical analysis published on 02/24/2020 (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
61%
11%
28%
My opinion
Bullish above 7.0370 NOK
My targets
7.0626 NOK (+0.0131)
My analysis
CAD/NOK is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 7.0370 NOK. The next resistance located at 7.0626 NOK is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
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
7.7
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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 7.0495 NOK. The price registered an increase of +0.40% on the session and was traded between 7.0273 NOK and 7.0660 NOK over the period. The price is currently at +0.32% from its lowest and -0.23% from its highest.7.0273
7.0660
7.0495
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 HIGH record (5 years)
Type : Bullish
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
A technical analysis in 1H of this CAD/NOK chart shows a strongly bullish trend. 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 does not detect any result on moving averages that would impact this trend.
In fact, 11 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
MACD indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
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 this result:
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | R1 | Price | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 7.0088 | 7.0266 | 7.0370 | 7.0495 | 7.0495 | 7.0626 |
| Change (%) | -0.58% | -0.32% | -0.18% | 0% | - | +0.19% |
| Change | -0.0407 | -0.0229 | -0.0125 | 0 | - | +0.0131 |
| Level | Minor | Minor | Major | Minor | - | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.9421 | 6.9744 | 6.9978 | 7.0301 | 7.0535 | 7.0858 | 7.1092 |
| Camarilla | 7.0060 | 7.0111 | 7.0162 | 7.0213 | 7.0264 | 7.0315 | 7.0366 |
| Woodie | 6.9378 | 6.9722 | 6.9935 | 7.0279 | 7.0492 | 7.0836 | 7.1049 |
| Fibonacci | 6.9744 | 6.9956 | 7.0088 | 7.0301 | 7.0513 | 7.0645 | 7.0858 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.8700 | 6.9166 | 6.9690 | 7.0156 | 7.0680 | 7.1146 | 7.1670 |
| Camarilla | 6.9941 | 7.0032 | 7.0122 | 7.0213 | 7.0304 | 7.0395 | 7.0485 |
| Woodie | 6.8728 | 6.9181 | 6.9718 | 7.0171 | 7.0708 | 7.1161 | 7.1698 |
| Fibonacci | 6.9166 | 6.9545 | 6.9778 | 7.0156 | 7.0535 | 7.0768 | 7.1146 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.5579 | 6.6506 | 6.8012 | 6.8939 | 7.0445 | 7.1372 | 7.2878 |
| Camarilla | 6.8849 | 6.9072 | 6.9295 | 6.9518 | 6.9741 | 6.9964 | 7.0187 |
| Woodie | 6.5869 | 6.6651 | 6.8302 | 6.9084 | 7.0735 | 7.1517 | 7.3168 |
| Fibonacci | 6.6506 | 6.7435 | 6.8010 | 6.8939 | 6.9868 | 7.0443 | 7.1372 |
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): | 57.86 | |
| MACD (12,26,9): | 0.0060 | |
| Directional Movement: | -0.6533 | |
| AROON (14): | 57.1429 | |
| DEMA (21): | 7.0541 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.0404 | |
| Elder Ray (13): | 0.0038 | |
| Super Trend (3,10): | 7.0224 | |
| Zig ZAG (10): | 7.0538 | |
| VORTEX (21): | 1.0558 | |
| Stochastique (14,3,5): | 72.41 | |
| TEMA (21): | 7.0559 | |
| Williams %R (14): | -39.79 | |
| Chande Momentum Oscillator (20): | 0.0107 | |
| Repulse (5,40,3): | -0.0762 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0103 | |
| Courbe Coppock: | 0.58 |
| MA7: | 7.0177 | |
| MA20: | 6.9781 | |
| MA50: | 6.8784 | |
| MA100: | 6.9023 | |
| MAexp7: | 7.0521 | |
| MAexp20: | 7.0469 | |
| MAexp50: | 7.0384 | |
| MAexp100: | 7.0284 | |
| Price / MA7: | +0.45% | |
| Price / MA20: | +1.02% | |
| Price / MA50: | +2.49% | |
| Price / MA100: | +2.13% | |
| Price / MAexp7: | -0.04% | |
| Price / MAexp20: | +0.04% | |
| Price / MAexp50: | +0.16% | |
| Price / MAexp100: | +0.30% |
This member declared not having a position on this financial instrument or a related financial instrument.
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