CAD/NOK - 1H - Technical analysis published on 03/24/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Bearish
Technical indicators
28%
56%
17%
My opinion
Bearish under 7.7271 NOK
My targets
7.5884 NOK (-0.0662)
7.5153 NOK (-0.1393)
My analysis
In the short term, we can see an acceleration in the bearish trend on CAD/NOK, which is a positive signal for sellers. As long as the price remains above 7.7271 NOK, a sale could be considered. The first bearish objective is located at 7.5884 NOK. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 7.5153 NOK as an objective. Crossing it would then enable sellers to target 7.4055 NOK. If the price were to return above 7.7271 NOK, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
FORCE
0
10
5.2
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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
CAD/NOK rating 7.6546 NOK. The price registered an increase of -3.85% on the session with the lowest point at 7.5379 NOK and the highest point at 7.9681 NOK. The deviation from the price is +1.55% for the low point and -3.93% for the high point.7.5379
7.9681
7.6546
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
Abnormal volumes on CAD/NOK were detected by the Central Volumes scanner:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Technical
Technical analysis of this 1H chart of CAD/NOK indicates that the overall trend is bearish. 75% of the signals given by moving averages are bearish. This 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 technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Pivot points : price is under support 1
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 these results:
Near support of triangle
Type : Bullish
Timeframe : 1 hour
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.0626 | 7.4055 | 7.5884 | 7.6546 | 7.7271 | 8.0108 | 8.1223 |
| Change (%) | -7.73% | -3.25% | -0.86% | - | +0.95% | +4.65% | +6.11% |
| Change | -0.5920 | -0.2491 | -0.0662 | - | +0.0725 | +0.3562 | +0.4677 |
| Level | Major | Minor | Intermediate | - | Minor | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.1813 | 7.4576 | 7.7092 | 7.9855 | 8.2371 | 8.5134 | 8.7650 |
| Camarilla | 7.8155 | 7.8639 | 7.9123 | 7.9607 | 8.0091 | 8.0575 | 8.1059 |
| Woodie | 7.1689 | 7.4514 | 7.6968 | 7.9793 | 8.2247 | 8.5072 | 8.7526 |
| Fibonacci | 7.4576 | 7.6593 | 7.7839 | 7.9855 | 8.1872 | 8.3118 | 8.5134 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.4026 | 6.8325 | 7.5153 | 7.9452 | 8.6280 | 9.0579 | 9.7407 |
| Camarilla | 7.8920 | 7.9940 | 8.0960 | 8.1980 | 8.3000 | 8.4020 | 8.5040 |
| Woodie | 6.5290 | 6.8957 | 7.6417 | 8.0084 | 8.7544 | 9.1211 | 9.8671 |
| Fibonacci | 6.8325 | 7.2576 | 7.5202 | 7.9452 | 8.3703 | 8.6329 | 9.0579 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 31.55 | |
| MACD (12,26,9): | -0.0998 | |
| Directional Movement: | -22.2799 | |
| AROON (14): | -85.7143 | |
| DEMA (21): | 7.6589 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.8855 | |
| Elder Ray (13): | -0.1302 | |
| Super Trend (3,10): | 7.8666 | |
| Zig ZAG (10): | 7.6286 | |
| VORTEX (21): | 0.8893 | |
| Stochastique (14,3,5): | 15.17 | |
| TEMA (21): | 7.5933 | |
| Williams %R (14): | -81.24 | |
| Chande Momentum Oscillator (20): | -0.3098 | |
| Repulse (5,40,3): | 0.6649 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1375 | |
| Courbe Coppock: | 7.07 |
| MA7: | 7.7166 | |
| MA20: | 7.2646 | |
| MA50: | 7.0706 | |
| MA100: | 6.9644 | |
| MAexp7: | 7.6554 | |
| MAexp20: | 7.7769 | |
| MAexp50: | 7.8655 | |
| MAexp100: | 7.8189 | |
| Price / MA7: | -0.80% | |
| Price / MA20: | +5.37% | |
| Price / MA50: | +8.26% | |
| Price / MA100: | +9.91% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | -1.57% | |
| Price / MAexp50: | -2.68% | |
| Price / MAexp100: | -2.10% |
This member declared not having a position on this financial instrument or a related financial instrument.
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