EUR/NOK - Daily - Technical analysis published on 09/02/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
17%
56%
28%
My opinion
Bearish under 10.4586 NOK
My targets
10.2652 NOK (-0.1510)
9.9924 NOK (-0.4238)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on EUR/NOK as long as the price remains well below 10.4586 NOK. The sellers” bearish objective is set at 10.2652 NOK. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 9.9924 NOK. In case of crossing, the next objective would be the support located at 9.1496 NOK. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
7.3
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This analysis was given by Picoul. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
EUR/NOK rating 10.4162 NOK. The price is lower by -0.18% since the last closing with the lowest point at 10.4130 NOK and the highest point at 10.4557 NOK. The deviation from the price is +0.03% for the low point and -0.38% for the high point.10.4130
10.4557
10.4162
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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:
Technical
Technical analysis of EUR/NOK in Daily shows a overall strongly bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish 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 bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : Daily
RSI indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
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:
Near resistance of channel
Type : Bearish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish harami
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 8.8036 | 9.1496 | 9.9924 | 10.4162 | 10.4586 | 10.7511 | 11.1161 |
| Change (%) | -15.48% | -12.16% | -4.07% | - | +0.41% | +3.22% | +6.72% |
| Change | -1.6126 | -1.2666 | -0.4238 | - | +0.0424 | +0.3349 | +0.6999 |
| Level | Minor | Intermediate | Major | - | Intermediate | Minor | Intermediate |
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 | 10.3043 | 10.3423 | 10.3886 | 10.4266 | 10.4729 | 10.5109 | 10.5572 |
| Camarilla | 10.4118 | 10.4195 | 10.4273 | 10.4350 | 10.4427 | 10.4505 | 10.4582 |
| Woodie | 10.3086 | 10.3444 | 10.3929 | 10.4287 | 10.4772 | 10.5130 | 10.5615 |
| Fibonacci | 10.3423 | 10.3745 | 10.3944 | 10.4266 | 10.4588 | 10.4787 | 10.5109 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.1969 | 10.3245 | 10.3988 | 10.5264 | 10.6007 | 10.7283 | 10.8026 |
| Camarilla | 10.4175 | 10.4360 | 10.4545 | 10.4730 | 10.4915 | 10.5100 | 10.5285 |
| Woodie | 10.1702 | 10.3112 | 10.3721 | 10.5131 | 10.5740 | 10.7150 | 10.7759 |
| Fibonacci | 10.3245 | 10.4017 | 10.4493 | 10.5264 | 10.6036 | 10.6512 | 10.7283 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.8531 | 10.1128 | 10.2652 | 10.5249 | 10.6773 | 10.9370 | 11.0894 |
| Camarilla | 10.3044 | 10.3422 | 10.3799 | 10.4177 | 10.4555 | 10.4933 | 10.5310 |
| Woodie | 9.7996 | 10.0860 | 10.2117 | 10.4981 | 10.6238 | 10.9102 | 11.0359 |
| Fibonacci | 10.1128 | 10.2702 | 10.3674 | 10.5249 | 10.6823 | 10.7795 | 10.9370 |
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): | 37.10 | |
| MACD (12,26,9): | -0.0526 | |
| Directional Movement: | -14.3464 | |
| AROON (14): | -42.8572 | |
| DEMA (21): | 10.4715 | |
| Parabolic SAR (0,02-0,02-0,2): | 10.5984 | |
| Elder Ray (13): | -0.0702 | |
| Super Trend (3,10): | 10.6853 | |
| Zig ZAG (10): | 10.4248 | |
| VORTEX (21): | 0.8284 | |
| Stochastique (14,3,5): | 18.30 | |
| TEMA (21): | 10.4524 | |
| Williams %R (14): | -81.66 | |
| Chande Momentum Oscillator (20): | -0.0771 | |
| Repulse (5,40,3): | -0.6601 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0538 | |
| Courbe Coppock: | 1.71 |
| MA7: | 10.4819 | |
| MA20: | 10.5432 | |
| MA50: | 10.6281 | |
| MA100: | 10.8002 | |
| MAexp7: | 10.4703 | |
| MAexp20: | 10.5375 | |
| MAexp50: | 10.6239 | |
| MAexp100: | 10.6848 | |
| Price / MA7: | -0.63% | |
| Price / MA20: | -1.20% | |
| Price / MA50: | -1.99% | |
| Price / MA100: | -3.56% | |
| Price / MAexp7: | -0.52% | |
| Price / MAexp20: | -1.15% | |
| Price / MAexp50: | -1.96% | |
| Price / MAexp100: | -2.51% |
Quotes :
2020-09-02 08:53:49
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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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