NOK/ZAR - 1H - Technical analysis published on 07/10/2023 (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
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 1.7803 ZAR
My targets
1.7940 ZAR (+0.0055)
1.8082 ZAR (+0.0197)
My analysis
The bullish trend is currently very strong on NOK/ZAR. As long as the price remains above the support at 1.7803 ZAR, you could try to benefit from the boom. The first bullish objective is located at 1.7940 ZAR. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.8082 ZAR as an objective. Crossing it would then enable buyers to target 1.8321 ZAR. 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, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NOK/ZAR rating is 1.7885 ZAR. The price has increased by +0.65% since the last closing with the lowest point at 1.7651 ZAR and the highest point at 1.7920 ZAR. The deviation from the price is +1.33% for the low point and -0.20% for the high point.1.7651
1.7920
1.7885
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 NOK/ZAR:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of NOK/ZAR indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a strong bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
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
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.7583 | 1.7658 | 1.7803 | 1.7885 | 1.8082 | 1.8321 | 1.9806 |
| Change (%) | -1.69% | -1.27% | -0.46% | - | +1.10% | +2.44% | +10.74% |
| Change | -0.0302 | -0.0227 | -0.0082 | - | +0.0197 | +0.0436 | +0.1921 |
| Level | Intermediate | Major | Major | - | Intermediate | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.7544 | 1.7619 | 1.7694 | 1.7769 | 1.7844 | 1.7919 | 1.7994 |
| Camarilla | 1.7729 | 1.7743 | 1.7756 | 1.7770 | 1.7784 | 1.7798 | 1.7811 |
| Woodie | 1.7545 | 1.7619 | 1.7695 | 1.7769 | 1.7845 | 1.7919 | 1.7995 |
| Fibonacci | 1.7619 | 1.7676 | 1.7711 | 1.7769 | 1.7826 | 1.7861 | 1.7919 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.7068 | 1.7237 | 1.7504 | 1.7673 | 1.7940 | 1.8109 | 1.8376 |
| Camarilla | 1.7650 | 1.7690 | 1.7730 | 1.7770 | 1.7810 | 1.7850 | 1.7890 |
| Woodie | 1.7116 | 1.7262 | 1.7552 | 1.7698 | 1.7988 | 1.8134 | 1.8424 |
| Fibonacci | 1.7237 | 1.7404 | 1.7507 | 1.7673 | 1.7840 | 1.7943 | 1.8109 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6077 | 1.6528 | 1.7035 | 1.7486 | 1.7993 | 1.8444 | 1.8951 |
| Camarilla | 1.7280 | 1.7367 | 1.7455 | 1.7543 | 1.7631 | 1.7719 | 1.7807 |
| Woodie | 1.6106 | 1.6542 | 1.7064 | 1.7500 | 1.8022 | 1.8458 | 1.8980 |
| Fibonacci | 1.6528 | 1.6894 | 1.7120 | 1.7486 | 1.7852 | 1.8078 | 1.8444 |
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): | 69.40 | |
| MACD (12,26,9): | 0.0029 | |
| Directional Movement: | 12.9337 | |
| AROON (14): | 100.0000 | |
| DEMA (21): | 1.7824 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.7730 | |
| Elder Ray (13): | 0.0075 | |
| Super Trend (3,10): | 1.7703 | |
| Zig ZAG (10): | 1.7871 | |
| VORTEX (21): | 1.1032 | |
| Stochastique (14,3,5): | 87.66 | |
| TEMA (21): | 1.7837 | |
| Williams %R (14): | -21.36 | |
| Chande Momentum Oscillator (20): | 0.0130 | |
| Repulse (5,40,3): | 0.3947 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0125 | |
| Courbe Coppock: | 0.94 |
| MA7: | 1.7656 | |
| MA20: | 1.7409 | |
| MA50: | 1.7521 | |
| MA100: | 1.7448 | |
| MAexp7: | 1.7834 | |
| MAexp20: | 1.7791 | |
| MAexp50: | 1.7745 | |
| MAexp100: | 1.7679 | |
| Price / MA7: | +1.30% | |
| Price / MA20: | +2.73% | |
| Price / MA50: | +2.08% | |
| Price / MA100: | +2.50% | |
| Price / MAexp7: | +0.28% | |
| Price / MAexp20: | +0.52% | |
| Price / MAexp50: | +0.78% | |
| Price / MAexp100: | +1.16% |
Quotes :
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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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