EUR/NOK - Weekly - Technical analysis published on 05/04/2020 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
56%
11%
33%
My opinion
Bullish above 10.9517 NOK
My targets
11.9704 NOK (+0.6373)
12.5716 NOK (+1.2385)
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 10.9517 NOK. The buyers” bullish objective is set at 11.9704 NOK. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 12.5716 NOK. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
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
7.5
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This analysis was given by Picoul. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/NOK price is 11.3331 NOK. The price is lower by -0.14% over the 5 days with the lowest point at 11.1502 NOK and the highest point at 11.3885 NOK. The deviation from the price is +1.64% for the low point and -0.49% for the high point.11.1502
11.3885
11.3331
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
A study of price movements over other periods shows the following variations:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of EUR/NOK in Weekly shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 10 technical indicators on 18 studied are currently positioned bullish. The Central Indicators scanner specialised in technical indicators, has not detected anything further.
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 8.8036 | 9.4162 | 9.9924 | 11.3331 | 12.5716 |
| Change (%) | -22.32% | -16.91% | -11.83% | - | +10.93% |
| Change | -2.5295 | -1.9169 | -1.3407 | - | +1.2385 |
| Level | Minor | Intermediate | Major | - | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.0748 | 11.1445 | 11.2491 | 11.3188 | 11.4234 | 11.4931 | 11.5977 |
| Camarilla | 11.3058 | 11.3218 | 11.3377 | 11.3537 | 11.3697 | 11.3857 | 11.4016 |
| Woodie | 11.0923 | 11.1532 | 11.2666 | 11.3275 | 11.4409 | 11.5018 | 11.6152 |
| Fibonacci | 11.1445 | 11.2111 | 11.2522 | 11.3188 | 11.3854 | 11.4265 | 11.4931 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.7567 | 10.9534 | 11.1536 | 11.3503 | 11.5505 | 11.7472 | 11.9474 |
| Camarilla | 11.2446 | 11.2809 | 11.3173 | 11.3537 | 11.3901 | 11.4265 | 11.4629 |
| Woodie | 10.7584 | 10.9543 | 11.1553 | 11.3512 | 11.5522 | 11.7481 | 11.9491 |
| Fibonacci | 10.9534 | 11.1051 | 11.1987 | 11.3503 | 11.5020 | 11.5956 | 11.7472 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.3055 | 10.6780 | 10.9517 | 11.3242 | 11.5979 | 11.9704 | 12.2441 |
| Camarilla | 11.0477 | 11.1069 | 11.1662 | 11.2254 | 11.2846 | 11.3439 | 11.4031 |
| Woodie | 10.2561 | 10.6533 | 10.9023 | 11.2995 | 11.5485 | 11.9457 | 12.1947 |
| Fibonacci | 10.6780 | 10.9249 | 11.0774 | 11.3242 | 11.5711 | 11.7236 | 11.9704 |
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): | 60.22 | |
| MACD (12,26,9): | 0.3894 | |
| Directional Movement: | 29.3336 | |
| AROON (14): | 50.0000 | |
| DEMA (21): | 11.3796 | |
| Parabolic SAR (0,02-0,02-0,2): | 13.0060 | |
| Elder Ray (13): | 0.2874 | |
| Super Trend (3,10): | 10.8817 | |
| Zig ZAG (10): | 11.3423 | |
| VORTEX (21): | 1.1129 | |
| Stochastique (14,3,5): | 45.32 | |
| TEMA (21): | 11.5936 | |
| Williams %R (14): | -57.11 | |
| Chande Momentum Oscillator (20): | 1.3435 | |
| Repulse (5,40,3): | -1.4456 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.4739 | |
| Courbe Coppock: | 28.27 |
| MA7: | 11.3299 | |
| MA20: | 11.3189 | |
| MA50: | 11.2437 | |
| MA100: | 10.6154 | |
| MAexp7: | 11.3225 | |
| MAexp20: | 10.8991 | |
| MAexp50: | 10.4163 | |
| MAexp100: | 10.0890 | |
| Price / MA7: | +0.03% | |
| Price / MA20: | +0.13% | |
| Price / MA50: | +0.80% | |
| Price / MA100: | +6.76% | |
| Price / MAexp7: | +0.09% | |
| Price / MAexp20: | +3.98% | |
| Price / MAexp50: | +8.80% | |
| Price / MAexp100: | +12.33% |
This member declared not having a position on this financial instrument or a related financial instrument.
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