NOK/ZAR - 1H - Technical analysis published on 08/04/2023 (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
44%
11%
44%
My opinion
Bullish above 1.8140 ZAR
My targets
1.8321 ZAR (+0.0039)
1.8370 ZAR (+0.0088)
My analysis
The bullish trend is currently very strong on NOK/ZAR. As long as the price remains above the support at 1.8140 ZAR, you could try to benefit from the boom. The first bullish objective is located at 1.8321 ZAR. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.8370 ZAR as an objective. Crossing it would then enable buyers to target 1.9806 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.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.1
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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 1.8282 ZAR. The price registered an increase of +0.24% on the session with the lowest point at 1.8225 ZAR and the highest point at 1.8301 ZAR. The deviation from the price is +0.31% for the low point and -0.10% for the high point.1.8225
1.8301
1.8282
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 NOK/ZAR:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
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 NOK/ZAR in 1H shows a strongly overall bullish trend. 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 market scanner currently does not detect any result that concerns moving averages.
In fact, only 8 technical indicators out of 18 studied are currently positioned bullish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Aroon indicator bearish trend
Type : Bearish
Timeframe : 1 hour
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Near support of channel
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 1.7803 | 1.7909 | 1.8082 | 1.8282 | 1.8321 | 1.9806 |
| Change (%) | -2.62% | -2.04% | -1.09% | - | +0.21% | +8.34% |
| Change | -0.0479 | -0.0373 | -0.0200 | - | +0.0039 | +0.1524 |
| Level | Intermediate | Minor | Major | - | Major | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.7585 | 1.7752 | 1.7996 | 1.8163 | 1.8407 | 1.8574 | 1.8818 |
| Camarilla | 1.8126 | 1.8164 | 1.8201 | 1.8239 | 1.8277 | 1.8314 | 1.8352 |
| Woodie | 1.7623 | 1.7771 | 1.8034 | 1.8182 | 1.8445 | 1.8593 | 1.8856 |
| Fibonacci | 1.7752 | 1.7909 | 1.8006 | 1.8163 | 1.8320 | 1.8417 | 1.8574 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6378 | 1.6812 | 1.7042 | 1.7476 | 1.7706 | 1.8140 | 1.8370 |
| Camarilla | 1.7088 | 1.7149 | 1.7210 | 1.7271 | 1.7332 | 1.7393 | 1.7454 |
| Woodie | 1.6275 | 1.6761 | 1.6939 | 1.7425 | 1.7603 | 1.8089 | 1.8267 |
| Fibonacci | 1.6812 | 1.7066 | 1.7223 | 1.7476 | 1.7730 | 1.7887 | 1.8140 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6237 | 1.6736 | 1.7188 | 1.7687 | 1.8139 | 1.8638 | 1.9090 |
| Camarilla | 1.7380 | 1.7467 | 1.7554 | 1.7641 | 1.7728 | 1.7815 | 1.7903 |
| Woodie | 1.6215 | 1.6724 | 1.7166 | 1.7675 | 1.8117 | 1.8626 | 1.9068 |
| Fibonacci | 1.6736 | 1.7099 | 1.7323 | 1.7687 | 1.8050 | 1.8274 | 1.8638 |
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): | 66.65 | |
| MACD (12,26,9): | 0.0063 | |
| Directional Movement: | 10.1000 | |
| AROON (14): | -35.7143 | |
| DEMA (21): | 1.8293 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.8306 | |
| Elder Ray (13): | 0.0035 | |
| Super Trend (3,10): | 1.8101 | |
| Zig ZAG (10): | 1.8282 | |
| VORTEX (21): | 1.1964 | |
| Stochastique (14,3,5): | 71.15 | |
| TEMA (21): | 1.8300 | |
| Williams %R (14): | -26.04 | |
| Chande Momentum Oscillator (20): | -0.0033 | |
| Repulse (5,40,3): | 0.2260 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0555 | |
| Courbe Coppock: | 1.24 |
| MA7: | 1.7835 | |
| MA20: | 1.7812 | |
| MA50: | 1.7581 | |
| MA100: | 1.7518 | |
| MAexp7: | 1.8261 | |
| MAexp20: | 1.8207 | |
| MAexp50: | 1.8082 | |
| MAexp100: | 1.7932 | |
| Price / MA7: | +2.51% | |
| Price / MA20: | +2.64% | |
| Price / MA50: | +3.99% | |
| Price / MA100: | +4.36% | |
| Price / MAexp7: | +0.11% | |
| Price / MAexp20: | +0.41% | |
| Price / MAexp50: | +1.11% | |
| Price / MAexp100: | +1.95% |
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.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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