NOK/ZAR - 1H - Technical analysis published on 09/03/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
56%
22%
My opinion
Bearish under 1.6823 ZAR
My targets
1.6780 ZAR (-0.0023)
1.6651 ZAR (-0.0152)
My analysis
The bearish trend is currently very strong for NOK/ZAR. As long as the price remains below the resistance at 1.6823 ZAR, you could try to take advantage of the bearish rally. The first bearish objective is located at 1.6780 ZAR. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.6651 ZAR as an objective. Crossing it would then enable sellers to target 1.6609 ZAR. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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 bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
6.4
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Additional analysis
Quotes
The NOK/ZAR price is 1.6803 ZAR. The price registered a decrease of -0.13% on the session and was between 1.6775 ZAR and 1.6888 ZAR. This implies that the price is at +0.17% from its lowest and at -0.50% from its highest.1.6775
1.6888
1.6803
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this NOK/ZAR chart shows a sharp bearish trend. 85.71% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
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.
No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.6609 | 1.6651 | 1.6780 | 1.6803 | 1.6816 | 1.6947 | 1.7006 |
| Change (%) | -1.15% | -0.90% | -0.14% | - | +0.08% | +0.86% | +1.21% |
| Change | -0.0194 | -0.0152 | -0.0023 | - | +0.0013 | +0.0144 | +0.0203 |
| Level | Intermediate | Minor | Major | - | Major | Intermediate | 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 | 1.6588 | 1.6685 | 1.6754 | 1.6851 | 1.6920 | 1.7017 | 1.7086 |
| Camarilla | 1.6778 | 1.6794 | 1.6809 | 1.6824 | 1.6839 | 1.6854 | 1.6870 |
| Woodie | 1.6575 | 1.6678 | 1.6741 | 1.6844 | 1.6907 | 1.7010 | 1.7073 |
| Fibonacci | 1.6685 | 1.6748 | 1.6787 | 1.6851 | 1.6914 | 1.6953 | 1.7017 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6279 | 1.6465 | 1.6637 | 1.6823 | 1.6995 | 1.7181 | 1.7353 |
| Camarilla | 1.6711 | 1.6743 | 1.6776 | 1.6809 | 1.6842 | 1.6875 | 1.6908 |
| Woodie | 1.6272 | 1.6462 | 1.6630 | 1.6820 | 1.6988 | 1.7178 | 1.7346 |
| Fibonacci | 1.6465 | 1.6602 | 1.6686 | 1.6823 | 1.6960 | 1.7044 | 1.7181 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.5878 | 1.6184 | 1.6496 | 1.6802 | 1.7114 | 1.7420 | 1.7732 |
| Camarilla | 1.6639 | 1.6696 | 1.6752 | 1.6809 | 1.6866 | 1.6922 | 1.6979 |
| Woodie | 1.5882 | 1.6186 | 1.6500 | 1.6804 | 1.7118 | 1.7422 | 1.7736 |
| Fibonacci | 1.6184 | 1.6420 | 1.6566 | 1.6802 | 1.7038 | 1.7184 | 1.7420 |
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): | 43.41 | |
| MACD (12,26,9): | -0.0011 | |
| Directional Movement: | -1.2786 | |
| AROON (14): | -71.4285 | |
| DEMA (21): | 1.6809 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.6868 | |
| Elder Ray (13): | -0.0011 | |
| Super Trend (3,10): | 1.6775 | |
| Zig ZAG (10): | 1.6803 | |
| VORTEX (21): | 0.9620 | |
| Stochastique (14,3,5): | 24.48 | |
| TEMA (21): | 1.6802 | |
| Williams %R (14): | -77.88 | |
| Chande Momentum Oscillator (20): | -0.0036 | |
| Repulse (5,40,3): | 0.0158 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0063 | |
| Courbe Coppock: | 0.26 |
| MA7: | 1.6864 | |
| MA20: | 1.6885 | |
| MA50: | 1.6901 | |
| MA100: | 1.7077 | |
| MAexp7: | 1.6809 | |
| MAexp20: | 1.6822 | |
| MAexp50: | 1.6835 | |
| MAexp100: | 1.6854 | |
| Price / MA7: | -0.36% | |
| Price / MA20: | -0.49% | |
| Price / MA50: | -0.58% | |
| Price / MA100: | -1.60% | |
| Price / MAexp7: | -0.04% | |
| Price / MAexp20: | -0.11% | |
| Price / MAexp50: | -0.19% | |
| Price / MAexp100: | -0.30% |
Quotes :
-
Real time data
-
Forex
This member declared not having a position on this financial instrument or a related financial instrument.
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