GBP/NOK - 1H - Technical analysis published on 10/23/2019 (GMT)
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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:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
17%
44%
39%
My opinion
Bearish under 11.8068 NOK
My targets
11.6806 NOK (-0.83%)
11.4905 NOK (-2.44%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on GBP/NOK as long as the price remains well below 11.8068 NOK. The sellers” bearish objective is set at 11.6806 NOK. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 11.4905 NOK. In case of crossing, the next objective would be the support located at 11.4067 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
6.3
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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 price is 11.7778 NOK. The price registered a decrease of -0.08% on the session and was between 11.7602 NOK and 11.8364 NOK. This implies that the price is at +0.15% from its lowest and at -0.50% from its highest.11.7602
11.8364
11.7778
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of GBP/NOK in 1H shows a overall strongly bearish trend. The signals given by moving averages are 85.71% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
Bearish trend reversal : adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
In fact, only 8 technical indicators out of 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:
MACD indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
Support of triangle is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 11.4067 | 11.4905 | 11.6806 | 11.7778 | 11.8068 | 11.8906 | 12.0430 |
| Change (%) | -3.15% | -2.44% | -0.83% | - | +0.25% | +0.96% | +2.25% |
| Change | -0.3711 | -0.2873 | -0.0972 | - | +0.0290 | +0.1128 | +0.2652 |
| Level | Intermediate | Intermediate | Minor | - | Intermediate | 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 | 11.6505 | 11.7073 | 11.7474 | 11.8042 | 11.8443 | 11.9011 | 11.9412 |
| Camarilla | 11.7609 | 11.7697 | 11.7786 | 11.7875 | 11.7964 | 11.8053 | 11.8142 |
| Woodie | 11.6422 | 11.7031 | 11.7391 | 11.8000 | 11.8360 | 11.8969 | 11.9329 |
| Fibonacci | 11.7073 | 11.7443 | 11.7672 | 11.8042 | 11.8412 | 11.8641 | 11.9011 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.0807 | 11.2437 | 11.5667 | 11.7297 | 12.0527 | 12.2157 | 12.5387 |
| Camarilla | 11.7561 | 11.8006 | 11.8452 | 11.8897 | 11.9343 | 11.9788 | 12.0234 |
| Woodie | 11.1607 | 11.2837 | 11.6467 | 11.7697 | 12.1327 | 12.2557 | 12.6187 |
| Fibonacci | 11.2437 | 11.4294 | 11.5441 | 11.7297 | 11.9154 | 12.0301 | 12.2157 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.5606 | 10.7470 | 10.9650 | 11.1514 | 11.3694 | 11.5558 | 11.7738 |
| Camarilla | 11.0719 | 11.1090 | 11.1460 | 11.1831 | 11.2202 | 11.2572 | 11.2943 |
| Woodie | 10.5765 | 10.7549 | 10.9809 | 11.1593 | 11.3853 | 11.5637 | 11.7897 |
| Fibonacci | 10.7470 | 10.9015 | 10.9969 | 11.1514 | 11.3059 | 11.4013 | 11.5558 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 43.84 | |
| MACD (12,26,9): | -0.0075 | |
| Directional Movement: | -5.1869 | |
| AROON (14): | -71.4285 | |
| DEMA (21): | 11.7791 | |
| Parabolic SAR (0,02-0,02-0,2): | 11.8228 | |
| Elder Ray (13): | -0.0123 | |
| Super Trend (3,10): | 11.8400 | |
| Zig ZAG (10): | 11.7748 | |
| VORTEX (21): | 0.9806 | |
| Stochastique (14,3,5): | 24.01 | |
| TEMA (21): | 11.7798 | |
| Williams %R (14): | -75.98 | |
| Chande Momentum Oscillator (20): | -0.0135 | |
| Repulse (5,40,3): | -0.0466 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0108 | |
| Courbe Coppock: | 0.00 |
| MA7: | 11.7905 | |
| MA20: | 11.4463 | |
| MA50: | 11.2209 | |
| MA100: | 11.0173 | |
| MAexp7: | 11.7825 | |
| MAexp20: | 11.7895 | |
| MAexp50: | 11.8024 | |
| MAexp100: | 11.7861 | |
| Price / MA7: | -0.11% | |
| Price / MA20: | +2.90% | |
| Price / MA50: | +4.96% | |
| Price / MA100: | +6.90% | |
| Price / MAexp7: | -0.04% | |
| Price / MAexp20: | -0.10% | |
| Price / MAexp50: | -0.21% | |
| Price / MAexp100: | -0.07% |
This member declared not having a position on this financial instrument or a related financial instrument.
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