CAD/NOK - 1H - Technical analysis published on 03/09/2020 (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 bullish
De fond:
Strongly bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 6.9618 NOK
My targets
7.0626 NOK (+0.0557)
My analysis
The bullish trend is currently very strong on CAD/NOK. As long as the price remains above the support at 6.9618 NOK, you could try to benefit from the boom. The first bullish objective is located at 7.0626 NOK. The bullish momentum would be boosted by a break in this resistance. 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
7.9
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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 7.0069 NOK. On the day, this instrument gained +1.68% and was between 6.8627 NOK and 7.1295 NOK. This implies that the price is at +2.10% from its lowest and at -1.72% from its highest.6.8627
7.1295
7.0069
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
Here is a more detailed summary of the historical variations registered by CAD/NOK:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CAD/NOK chart shows a strongly bullish trend. 89.29% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from 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, 13 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | R1 | Price | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 6.8812 | 6.9446 | 6.9618 | 7.0068 | 7.0069 | 7.0626 |
| Change (%) | -1.79% | -0.89% | -0.64% | +0.00% | - | +0.79% |
| Change | -0.1257 | -0.0623 | -0.0451 | -0.0001 | - | +0.0557 |
| Level | Intermediate | Minor | Major | Minor | - | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.7677 | 6.8209 | 6.8561 | 6.9093 | 6.9445 | 6.9977 | 7.0329 |
| Camarilla | 6.8670 | 6.8751 | 6.8832 | 6.8913 | 6.8994 | 6.9075 | 6.9156 |
| Woodie | 6.7587 | 6.8164 | 6.8471 | 6.9048 | 6.9355 | 6.9932 | 7.0239 |
| Fibonacci | 6.8209 | 6.8547 | 6.8755 | 6.9093 | 6.9431 | 6.9639 | 6.9977 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.6710 | 6.7726 | 6.8319 | 6.9335 | 6.9928 | 7.0944 | 7.1537 |
| Camarilla | 6.8471 | 6.8618 | 6.8766 | 6.8913 | 6.9061 | 6.9208 | 6.9356 |
| Woodie | 6.6500 | 6.7620 | 6.8109 | 6.9229 | 6.9718 | 7.0838 | 7.1327 |
| Fibonacci | 6.7726 | 6.8340 | 6.8720 | 6.9335 | 6.9949 | 7.0329 | 7.0944 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.7522 | 6.8296 | 6.9216 | 6.9990 | 7.0910 | 7.1684 | 7.2604 |
| Camarilla | 6.9669 | 6.9824 | 6.9980 | 7.0135 | 7.0290 | 7.0446 | 7.0601 |
| Woodie | 6.7594 | 6.8333 | 6.9288 | 7.0027 | 7.0982 | 7.1721 | 7.2676 |
| Fibonacci | 6.8296 | 6.8943 | 6.9343 | 6.9990 | 7.0637 | 7.1037 | 7.1684 |
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): | 59.19 | |
| MACD (12,26,9): | 0.0226 | |
| Directional Movement: | 7.3582 | |
| AROON (14): | -21.4286 | |
| DEMA (21): | 6.9826 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.0943 | |
| Elder Ray (13): | 0.0132 | |
| Super Trend (3,10): | 6.8833 | |
| Zig ZAG (10): | 7.0304 | |
| VORTEX (21): | 1.0304 | |
| Stochastique (14,3,5): | 51.57 | |
| TEMA (21): | 6.9966 | |
| Williams %R (14): | -39.02 | |
| Chande Momentum Oscillator (20): | 0.1280 | |
| Repulse (5,40,3): | 1.1933 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0249 | |
| Courbe Coppock: | 2.52 |
| MA7: | 6.9554 | |
| MA20: | 6.9910 | |
| MA50: | 6.9137 | |
| MA100: | 6.9080 | |
| MAexp7: | 6.9926 | |
| MAexp20: | 6.9598 | |
| MAexp50: | 6.9414 | |
| MAexp100: | 6.9451 | |
| Price / MA7: | +0.74% | |
| Price / MA20: | +0.23% | |
| Price / MA50: | +1.35% | |
| Price / MA100: | +1.43% | |
| Price / MAexp7: | +0.19% | |
| Price / MAexp20: | +0.66% | |
| Price / MAexp50: | +0.93% | |
| Price / MAexp100: | +0.87% |
This member declared not having a position on this financial instrument or a related financial instrument.
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