EUR/NOK - 1H - Technical analysis published on 04/14/2020 (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:
Bullish
De fond:
Strongly bullish
Technical indicators
61%
11%
28%
My opinion
Bullish above 11.2083 NOK
My targets
11.3376 NOK (+0.0717)
11.3873 NOK (+0.1214)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on EUR/NOK as long as the price remains well above 11.2083 NOK. The buyers” bullish objective is set at 11.3376 NOK. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 11.3873 NOK. If there is any crossing, the next objective would be the resistance located at 11.4915 NOK. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
FORCE
0
10
6.6
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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 EUR/NOK price is 11.2659 NOK. On the day, this instrument gained +0.30% with the lowest point at 11.1699 NOK and the highest point at 11.2709 NOK. The deviation from the price is +0.86% for the low point and -0.04% for the high point.11.1699
11.2709
11.2659
The Central Gaps scanner detects a bullish opening. A small advantage for buyers 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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
The Central Volumes scanner detects abnormal volumes on the asset:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of this 1H chart of EUR/NOK indicates that the overall trend is strongly bullish. 85.71% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages indicate this trend is showing signs of running out of steam. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
The technical indicators are bullish. There is still some doubt about the price increase.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Dark cloud cover
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 11.1193 | 11.1588 | 11.2083 | 11.2659 | 11.2758 | 11.3376 | 11.3873 |
| Change (%) | -1.30% | -0.95% | -0.51% | - | +0.09% | +0.64% | +1.08% |
| Change | -0.1466 | -0.1071 | -0.0576 | - | +0.0099 | +0.0717 | +0.1214 |
| Level | Minor | Intermediate | Intermediate | - | Major | Minor | Minor |
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 | 10.9823 | 11.0508 | 11.1416 | 11.2101 | 11.3009 | 11.3694 | 11.4602 |
| Camarilla | 11.1886 | 11.2032 | 11.2178 | 11.2324 | 11.2470 | 11.2616 | 11.2762 |
| Woodie | 10.9935 | 11.0564 | 11.1528 | 11.2157 | 11.3121 | 11.3750 | 11.4714 |
| Fibonacci | 11.0508 | 11.1117 | 11.1493 | 11.2101 | 11.2710 | 11.3086 | 11.3694 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.5651 | 10.8078 | 10.9869 | 11.2296 | 11.4087 | 11.6514 | 11.8305 |
| Camarilla | 11.0500 | 11.0887 | 11.1273 | 11.1660 | 11.2047 | 11.2433 | 11.2820 |
| Woodie | 10.5333 | 10.7919 | 10.9551 | 11.2137 | 11.3769 | 11.6355 | 11.7987 |
| Fibonacci | 10.8078 | 10.9689 | 11.0685 | 11.2296 | 11.3907 | 11.4903 | 11.6514 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.2393 | 8.7610 | 10.1273 | 11.6490 | 13.0153 | 14.5370 | 15.9033 |
| Camarilla | 10.6995 | 10.9642 | 11.2290 | 11.4937 | 11.7584 | 12.0232 | 12.2879 |
| Woodie | 7.1617 | 8.7222 | 10.0497 | 11.6102 | 12.9377 | 14.4982 | 15.8257 |
| Fibonacci | 8.7610 | 9.8642 | 10.5458 | 11.6490 | 12.7522 | 13.4338 | 14.5370 |
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): | 58.48 | |
| MACD (12,26,9): | 0.0025 | |
| Directional Movement: | 7.2862 | |
| AROON (14): | 21.4286 | |
| DEMA (21): | 11.2203 | |
| Parabolic SAR (0,02-0,02-0,2): | 11.1699 | |
| Elder Ray (13): | 0.0175 | |
| Super Trend (3,10): | 11.1470 | |
| Zig ZAG (10): | 11.2646 | |
| VORTEX (21): | 1.0029 | |
| Stochastique (14,3,5): | 58.63 | |
| TEMA (21): | 11.2135 | |
| Williams %R (14): | -11.39 | |
| Chande Momentum Oscillator (20): | 0.0001 | |
| Repulse (5,40,3): | 0.5653 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0054 | |
| Courbe Coppock: | 0.60 |
| MA7: | 11.1954 | |
| MA20: | 11.5856 | |
| MA50: | 10.8817 | |
| MA100: | 10.4399 | |
| MAexp7: | 11.2174 | |
| MAexp20: | 11.2156 | |
| MAexp50: | 11.2050 | |
| MAexp100: | 11.2060 | |
| Price / MA7: | +0.63% | |
| Price / MA20: | -2.76% | |
| Price / MA50: | +3.53% | |
| Price / MA100: | +7.91% | |
| Price / MAexp7: | +0.43% | |
| Price / MAexp20: | +0.44% | |
| Price / MAexp50: | +0.54% | |
| Price / MAexp100: | +0.53% |
This member declared not having a position on this financial instrument or a related financial instrument.
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