EUR/NOK - 1H - Technical analysis published on 08/06/2020 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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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:
Neutral
De fond:
Bearish
Technical indicators
50%
6%
44%
My opinion
Bearish under 10.7116 NOK
My targets
10.6210 NOK (-0.0238)
10.5313 NOK (-0.1135)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on EUR/NOK. As long as you are under the resistance located at 10.7116 NOK, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 10.6210 NOK would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 10.5313 NOK as an objective. Crossing it would then enable sellers to target 10.4492 NOK. If the resistance 10.7116 NOK were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
1.1
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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 10.6448 NOK. The price has increased by +0.28% since the last closing and was between 10.6032 NOK and 10.6743 NOK. This implies that the price is at +0.39% from its lowest and at -0.28% from its highest.10.6032
10.6743
10.6448
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
Here is a more detailed summary of the historical variations registered by EUR/NOK:
Technical
A technical analysis in 1H of this EUR/NOK chart shows a bearish trend. The signals given by moving averages are 71.43% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
In fact, only 9 technical indicators out of 18 studied 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
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Ichimoku : price is over the cloud
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
White morning star
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 10.4492 | 10.6210 | 10.6381 | 10.6448 | 10.7116 | 10.7515 | 10.7847 |
| Change (%) | -1.84% | -0.22% | -0.06% | - | +0.63% | +1.00% | +1.31% |
| Change | -0.1956 | -0.0238 | -0.0067 | - | +0.0668 | +0.1067 | +0.1399 |
| Level | Minor | Intermediate | Minor | - | Intermediate | Minor | Minor |
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 | 10.4322 | 10.5233 | 10.5693 | 10.6604 | 10.7064 | 10.7975 | 10.8435 |
| Camarilla | 10.5776 | 10.5902 | 10.6027 | 10.6153 | 10.6279 | 10.6404 | 10.6530 |
| Woodie | 10.4097 | 10.5120 | 10.5468 | 10.6491 | 10.6839 | 10.7862 | 10.8210 |
| Fibonacci | 10.5233 | 10.5757 | 10.6080 | 10.6604 | 10.7128 | 10.7451 | 10.7975 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.4416 | 10.5313 | 10.6243 | 10.7140 | 10.8070 | 10.8967 | 10.9897 |
| Camarilla | 10.6671 | 10.6838 | 10.7006 | 10.7173 | 10.7341 | 10.7508 | 10.7675 |
| Woodie | 10.4433 | 10.5321 | 10.6260 | 10.7148 | 10.8087 | 10.8975 | 10.9914 |
| Fibonacci | 10.5313 | 10.6011 | 10.6442 | 10.7140 | 10.7838 | 10.8269 | 10.8967 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.1651 | 10.3144 | 10.5159 | 10.6652 | 10.8667 | 11.0160 | 11.2175 |
| Camarilla | 10.6208 | 10.6530 | 10.6851 | 10.7173 | 10.7495 | 10.7816 | 10.8138 |
| Woodie | 10.1911 | 10.3275 | 10.5419 | 10.6783 | 10.8927 | 11.0291 | 11.2435 |
| Fibonacci | 10.3144 | 10.4484 | 10.5312 | 10.6652 | 10.7992 | 10.8820 | 11.0160 |
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): | 54.48 | |
| MACD (12,26,9): | -0.0043 | |
| Directional Movement: | 6.4421 | |
| AROON (14): | 35.7143 | |
| DEMA (21): | 10.6306 | |
| Parabolic SAR (0,02-0,02-0,2): | 10.7127 | |
| Elder Ray (13): | 0.0098 | |
| Super Trend (3,10): | 10.5906 | |
| Zig ZAG (10): | 10.6527 | |
| VORTEX (21): | 1.0120 | |
| Stochastique (14,3,5): | 51.51 | |
| TEMA (21): | 10.6408 | |
| Williams %R (14): | -31.91 | |
| Chande Momentum Oscillator (20): | 0.0312 | |
| Repulse (5,40,3): | 0.1748 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0135 | |
| Courbe Coppock: | 0.37 |
| MA7: | 10.6932 | |
| MA20: | 10.6549 | |
| MA50: | 10.6917 | |
| MA100: | 10.9874 | |
| MAexp7: | 10.6403 | |
| MAexp20: | 10.6402 | |
| MAexp50: | 10.6613 | |
| MAexp100: | 10.6823 | |
| Price / MA7: | -0.45% | |
| Price / MA20: | -0.09% | |
| Price / MA50: | -0.44% | |
| Price / MA100: | -3.12% | |
| Price / MAexp7: | +0.04% | |
| Price / MAexp20: | +0.04% | |
| Price / MAexp50: | -0.16% | |
| Price / MAexp100: | -0.35% |
Quotes :
2020-08-06 15:55:29
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Real time data
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Forex
This member declared not having a position on this financial instrument or a related financial instrument.
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