NOK/ZAR - 1H - Technical analysis published on 02/08/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
22%
22%
56%
My opinion
Bullish above 1.7831 ZAR
My targets
1.7931 ZAR (+0.0064)
1.8023 ZAR (+0.0156)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on NOK/ZAR as long as the price remains well above 1.7831 ZAR. The buyers' bullish objective is set at 1.7931 ZAR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.8023 ZAR. If there is any crossing, the next objective would be the resistance located at 1.8077 ZAR. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.
Force
0
10
5.4
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
NOK/ZAR rating 1.7867 ZAR. The price registered a decrease of -0.01% on the session and was traded between 1.7834 ZAR and 1.7873 ZAR over the period. The price is currently at +0.19% from its lowest and -0.03% from its highest.1.7834
1.7873
1.7867
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
A study of price movements over other periods shows the following variations:
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 this 1H chart of NOK/ZAR indicates that the overall trend is strongly bullish. The signals given by the moving averages are 85.71% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
The Central Indicators scanner specialised in technical indicators, has not detected anything further.
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near horizontal support
Type : Bullish
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 | 1.7757 | 1.7793 | 1.7831 | 1.7867 | 1.7931 | 1.8023 | 1.8077 |
| Change (%) | -0.62% | -0.41% | -0.20% | - | +0.36% | +0.87% | +1.18% |
| Change | -0.0110 | -0.0074 | -0.0036 | - | +0.0064 | +0.0156 | +0.0210 |
| Level | Major | Minor | Minor | - | Major | 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 | 1.7593 | 1.7670 | 1.7769 | 1.7846 | 1.7945 | 1.8022 | 1.8121 |
| Camarilla | 1.7820 | 1.7836 | 1.7852 | 1.7868 | 1.7884 | 1.7900 | 1.7916 |
| Woodie | 1.7604 | 1.7676 | 1.7780 | 1.7852 | 1.7956 | 1.8028 | 1.8132 |
| Fibonacci | 1.7670 | 1.7737 | 1.7779 | 1.7846 | 1.7913 | 1.7955 | 1.8022 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.7244 | 1.7480 | 1.7648 | 1.7884 | 1.8052 | 1.8288 | 1.8456 |
| Camarilla | 1.7704 | 1.7741 | 1.7778 | 1.7815 | 1.7852 | 1.7889 | 1.7926 |
| Woodie | 1.7209 | 1.7463 | 1.7613 | 1.7867 | 1.8017 | 1.8271 | 1.8421 |
| Fibonacci | 1.7480 | 1.7635 | 1.7730 | 1.7884 | 1.8039 | 1.8134 | 1.8288 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6995 | 1.7367 | 1.7561 | 1.7933 | 1.8127 | 1.8499 | 1.8693 |
| Camarilla | 1.7599 | 1.7651 | 1.7703 | 1.7755 | 1.7807 | 1.7859 | 1.7911 |
| Woodie | 1.6906 | 1.7323 | 1.7472 | 1.7889 | 1.8038 | 1.8455 | 1.8604 |
| Fibonacci | 1.7367 | 1.7583 | 1.7717 | 1.7933 | 1.8149 | 1.8283 | 1.8499 |
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): | 54.76 | |
| MACD (12,26,9): | 0.0011 | |
| Directional Movement: | 6.4738 | |
| AROON (14): | -28.5714 | |
| DEMA (21): | 1.7868 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.7916 | |
| Elder Ray (13): | 0.0003 | |
| Super Trend (3,10): | 1.7765 | |
| Zig ZAG (10): | 1.7864 | |
| VORTEX (21): | 1.0822 | |
| Stochastique (14,3,5): | 40.87 | |
| TEMA (21): | 1.7869 | |
| Williams %R (14): | -52.05 | |
| Chande Momentum Oscillator (20): | -0.0020 | |
| Repulse (5,40,3): | 0.0945 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0122 | |
| Courbe Coppock: | 0.06 |
| MA7: | 1.7818 | |
| MA20: | 1.7996 | |
| MA50: | 1.7855 | |
| MA100: | 1.7532 | |
| MAexp7: | 1.7860 | |
| MAexp20: | 1.7851 | |
| MAexp50: | 1.7833 | |
| MAexp100: | 1.7834 | |
| Price / MA7: | +0.28% | |
| Price / MA20: | -0.72% | |
| Price / MA50: | +0.07% | |
| Price / MA100: | +1.91% | |
| Price / MAexp7: | +0.04% | |
| Price / MAexp20: | +0.09% | |
| Price / MAexp50: | +0.19% | |
| Price / MAexp100: | +0.19% |
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.
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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