GBP/NOK - 1H - Technical analysis published on 02/18/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
78%
6%
17%
My opinion
Bullish above 12.1027 NOK
My targets
12.1506 NOK (+0.0211)
12.2535 NOK (+0.1240)
My analysis
The bullish trend is currently very strong on GBP/NOK. As long as the price remains above the support at 12.1027 NOK, you could try to benefit from the boom. The first bullish objective is located at 12.1506 NOK. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 12.2535 NOK as an objective. Crossing it would then enable buyers to target 12.7807 NOK. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
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
8.4
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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
GBP/NOK rating 12.1295 NOK. On the day, this instrument gained +0.74% and was between 12.0346 NOK and 12.1331 NOK. This implies that the price is at +0.79% from its lowest and at -0.03% from its highest.12.0346
12.1331
12.1295
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
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 this 1H chart of GBP/NOK indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Horizontal support 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 | 12.0180 | 12.0784 | 12.1027 | 12.1295 | 12.2535 | 12.7807 | 13.3235 |
| Change (%) | -0.92% | -0.42% | -0.22% | - | +1.02% | +5.37% | +9.84% |
| Change | -0.1115 | -0.0511 | -0.0268 | - | +0.1240 | +0.6512 | +1.1940 |
| Level | Major | Minor | Intermediate | - | Major | Intermediate | 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 | 11.9524 | 11.9852 | 12.0127 | 12.0455 | 12.0730 | 12.1058 | 12.1333 |
| Camarilla | 12.0235 | 12.0291 | 12.0346 | 12.0401 | 12.0456 | 12.0512 | 12.0567 |
| Woodie | 11.9497 | 11.9839 | 12.0100 | 12.0442 | 12.0703 | 12.1045 | 12.1306 |
| Fibonacci | 11.9852 | 12.0083 | 12.0225 | 12.0455 | 12.0686 | 12.0828 | 12.1058 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.7202 | 11.8038 | 11.9354 | 12.0190 | 12.1506 | 12.2342 | 12.3658 |
| Camarilla | 12.0077 | 12.0275 | 12.0472 | 12.0669 | 12.0866 | 12.1064 | 12.1261 |
| Woodie | 11.7441 | 11.8158 | 11.9593 | 12.0310 | 12.1745 | 12.2462 | 12.3897 |
| Fibonacci | 11.8038 | 11.8860 | 11.9368 | 12.0190 | 12.1012 | 12.1520 | 12.2342 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.0663 | 11.2895 | 11.7207 | 11.9439 | 12.3751 | 12.5983 | 13.0295 |
| Camarilla | 11.9718 | 12.0318 | 12.0918 | 12.1518 | 12.2118 | 12.2718 | 12.3318 |
| Woodie | 11.1702 | 11.3415 | 11.8246 | 11.9959 | 12.4790 | 12.6503 | 13.1334 |
| Fibonacci | 11.2895 | 11.5395 | 11.6940 | 11.9439 | 12.1939 | 12.3484 | 12.5983 |
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): | 70.83 | |
| MACD (12,26,9): | 0.0141 | |
| Directional Movement: | 21.1621 | |
| AROON (14): | 92.8571 | |
| DEMA (21): | 12.0727 | |
| Parabolic SAR (0,02-0,02-0,2): | 12.0295 | |
| Elder Ray (13): | 0.0175 | |
| Super Trend (3,10): | 12.0252 | |
| Zig ZAG (10): | 12.0843 | |
| VORTEX (21): | 1.0595 | |
| Stochastique (14,3,5): | 77.46 | |
| TEMA (21): | 12.0808 | |
| Williams %R (14): | -34.04 | |
| Chande Momentum Oscillator (20): | 0.0505 | |
| Repulse (5,40,3): | -0.0030 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0036 | |
| Courbe Coppock: | 0.66 |
| MA7: | 12.0330 | |
| MA20: | 11.9781 | |
| MA50: | 11.7942 | |
| MA100: | 11.7637 | |
| MAexp7: | 12.0826 | |
| MAexp20: | 12.0713 | |
| MAexp50: | 12.0584 | |
| MAexp100: | 12.0425 | |
| Price / MA7: | +0.80% | |
| Price / MA20: | +1.26% | |
| Price / MA50: | +2.84% | |
| Price / MA100: | +3.11% | |
| Price / MAexp7: | +0.39% | |
| Price / MAexp20: | +0.48% | |
| Price / MAexp50: | +0.59% | |
| Price / MAexp100: | +0.72% |
This member declared not having a position on this financial instrument or a related financial instrument.
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