GBP/NOK - Daily - Technical analysis published on 11/04/2021 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
72%
0%
28%
My opinion
Bearish under 11.8068 NOK
My targets
11.4954 NOK (-0.1530)
11.4062 NOK (-0.2422)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 11.8068 NOK remains possible. It is advisable to trade GBP/NOK with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 11.8068 NOK. The next bearish objective for sellers is set at 11.4954 NOK. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 11.4062 NOK. In case of crossing, the next objective would be the support located at 11.2230 NOK. PS: if there is a bullish break in the resistance located at 11.8068 NOK we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
0.9
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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 GBP/NOK rating is 11.6484 NOK. The price registered an increase of +0.16% on the session and was traded between 11.6152 NOK and 11.6560 NOK over the period. The price is currently at +0.29% from its lowest and -0.07% from its highest.11.6152
11.6560
11.6484
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
Here is a more detailed summary of the historical variations registered by GBP/NOK:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this GBP/NOK chart shows a bearish trend. The signals given by moving averages are 75.00% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : Daily
In fact, 13 technical indicators on 18 studied are currently positioned bullish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
RSI indicator is back over 50
Type : Bullish
Timeframe : Daily
Aroon indicator bullish trend
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 11.2230 | 11.4062 | 11.4954 | 11.6484 | 11.6767 | 11.8068 | 12.0705 |
| Change (%) | -3.65% | -2.08% | -1.31% | - | +0.24% | +1.36% | +3.62% |
| Change | -0.4254 | -0.2422 | -0.1530 | - | +0.0283 | +0.1584 | +0.4221 |
| Level | Major | Minor | Intermediate | - | Major | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.4438 | 11.5013 | 11.5657 | 11.6232 | 11.6876 | 11.7451 | 11.8095 |
| Camarilla | 11.5967 | 11.6079 | 11.6190 | 11.6302 | 11.6414 | 11.6526 | 11.6637 |
| Woodie | 11.4474 | 11.5030 | 11.5693 | 11.6249 | 11.6912 | 11.7468 | 11.8131 |
| Fibonacci | 11.5013 | 11.5478 | 11.5766 | 11.6232 | 11.6697 | 11.6985 | 11.7451 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.3216 | 11.3888 | 11.4727 | 11.5399 | 11.6238 | 11.6910 | 11.7749 |
| Camarilla | 11.5151 | 11.5289 | 11.5428 | 11.5566 | 11.5705 | 11.5843 | 11.5982 |
| Woodie | 11.3300 | 11.3930 | 11.4811 | 11.5441 | 11.6322 | 11.6952 | 11.7833 |
| Fibonacci | 11.3888 | 11.4465 | 11.4822 | 11.5399 | 11.5976 | 11.6333 | 11.6910 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.0390 | 11.2457 | 11.4011 | 11.6078 | 11.7632 | 11.9699 | 12.1253 |
| Camarilla | 11.4570 | 11.4902 | 11.5234 | 11.5566 | 11.5898 | 11.6230 | 11.6562 |
| Woodie | 11.0135 | 11.2329 | 11.3756 | 11.5950 | 11.7377 | 11.9571 | 12.0998 |
| Fibonacci | 11.2457 | 11.3840 | 11.4694 | 11.6078 | 11.7461 | 11.8315 | 11.9699 |
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): | 51.90 | |
| MACD (12,26,9): | -0.0438 | |
| Directional Movement: | 1.3135 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 11.5198 | |
| Parabolic SAR (0,02-0,02-0,2): | 11.4678 | |
| Elder Ray (13): | 0.0514 | |
| Super Trend (3,10): | 11.7454 | |
| Zig ZAG (10): | 11.6431 | |
| VORTEX (21): | 0.9962 | |
| Stochastique (14,3,5): | 81.72 | |
| TEMA (21): | 11.5605 | |
| Williams %R (14): | -11.65 | |
| Chande Momentum Oscillator (20): | 0.1345 | |
| Repulse (5,40,3): | 0.9719 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0909 | |
| Courbe Coppock: | 0.19 |
| MA7: | 11.5724 | |
| MA20: | 11.5643 | |
| MA50: | 11.7433 | |
| MA100: | 11.9379 | |
| MAexp7: | 11.5867 | |
| MAexp20: | 11.5960 | |
| MAexp50: | 11.7212 | |
| MAexp100: | 11.8111 | |
| Price / MA7: | +0.66% | |
| Price / MA20: | +0.73% | |
| Price / MA50: | -0.81% | |
| Price / MA100: | -2.43% | |
| Price / MAexp7: | +0.53% | |
| Price / MAexp20: | +0.45% | |
| Price / MAexp50: | -0.62% | |
| Price / MAexp100: | -1.38% |
Quotes :
-
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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