NZD/NOK - 1H - Technical analysis published on 03/02/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bearish
Technical indicators
56%
0%
44%
My opinion
Bearish under 5.8778 NOK
My targets
5.8384 NOK (-0.0272)
5.8026 NOK (-0.0630)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers” generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 5.8778 NOK remains possible. It is advisable to trade NZD/NOK with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 5.8778 NOK. The next bearish objective for sellers is set at 5.8384 NOK. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 5.8026 NOK. In case of crossing, the next objective would be the support located at 5.7499 NOK. PS: if there is a bullish break in the resistance located at 5.8778 NOK we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
FORCE
0
10
1.4
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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
The NZD/NOK price is 5.8656 NOK. On the day, this instrument lost -0.15% and was traded between 5.8174 NOK and 5.8802 NOK over the period. The price is currently at +0.83% from its lowest and -0.25% from its highest.5.8174
5.8802
5.8656
A bearish gap was detected at the opening by the Central Gaps scanner. There are a lot of sellers and they have the upper hand in the very short term.
Opening Gap DOWN
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:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this NZD/NOK chart shows a bearish trend. 75% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators shows a moderate bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
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
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 | 5.6491 | 5.7499 | 5.8639 | 5.8656 | 5.8778 | 5.8968 | 5.9250 |
| Change (%) | -3.69% | -1.97% | -0.03% | - | +0.21% | +0.53% | +1.01% |
| Change | -0.2165 | -0.1157 | -0.0017 | - | +0.0122 | +0.0312 | +0.0594 |
| Level | Minor | Major | Major | - | Minor | Intermediate | Minor |
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 | 5.7743 | 5.8181 | 5.8462 | 5.8900 | 5.9181 | 5.9619 | 5.9900 |
| Camarilla | 5.8544 | 5.8610 | 5.8676 | 5.8742 | 5.8808 | 5.8874 | 5.8940 |
| Woodie | 5.7664 | 5.8142 | 5.8383 | 5.8861 | 5.9102 | 5.9580 | 5.9821 |
| Fibonacci | 5.8181 | 5.8456 | 5.8626 | 5.8900 | 5.9175 | 5.9345 | 5.9619 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.7432 | 5.8026 | 5.8384 | 5.8978 | 5.9336 | 5.9930 | 6.0288 |
| Camarilla | 5.8480 | 5.8568 | 5.8655 | 5.8742 | 5.8829 | 5.8917 | 5.9004 |
| Woodie | 5.7314 | 5.7967 | 5.8266 | 5.8919 | 5.9218 | 5.9871 | 6.0170 |
| Fibonacci | 5.8026 | 5.8390 | 5.8614 | 5.8978 | 5.9342 | 5.9566 | 5.9930 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.6807 | 5.7713 | 5.8228 | 5.9134 | 5.9649 | 6.0555 | 6.1070 |
| Camarilla | 5.8351 | 5.8482 | 5.8612 | 5.8742 | 5.8872 | 5.9003 | 5.9133 |
| Woodie | 5.6611 | 5.7615 | 5.8032 | 5.9036 | 5.9453 | 6.0457 | 6.0874 |
| Fibonacci | 5.7713 | 5.8256 | 5.8592 | 5.9134 | 5.9677 | 6.0013 | 6.0555 |
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): | 49.76 | |
| MACD (12,26,9): | -0.0066 | |
| Directional Movement: | -1.4262 | |
| AROON (14): | 21.4286 | |
| DEMA (21): | 5.8500 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.8276 | |
| Elder Ray (13): | 0.0048 | |
| Super Trend (3,10): | 5.8887 | |
| Zig ZAG (10): | 5.8639 | |
| VORTEX (21): | 0.9218 | |
| Stochastique (14,3,5): | 77.02 | |
| TEMA (21): | 5.8543 | |
| Williams %R (14): | -23.89 | |
| Chande Momentum Oscillator (20): | 0.0298 | |
| Repulse (5,40,3): | 0.1009 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0309 | |
| Courbe Coppock: | 0.06 |
| MA7: | 5.9034 | |
| MA20: | 5.9328 | |
| MA50: | 5.9234 | |
| MA100: | 5.9047 | |
| MAexp7: | 5.8611 | |
| MAexp20: | 5.8615 | |
| MAexp50: | 5.8794 | |
| MAexp100: | 5.8947 | |
| Price / MA7: | -0.64% | |
| Price / MA20: | -1.13% | |
| Price / MA50: | -0.98% | |
| Price / MA100: | -0.66% | |
| Price / MAexp7: | +0.08% | |
| Price / MAexp20: | +0.07% | |
| Price / MAexp50: | -0.23% | |
| Price / MAexp100: | -0.49% |
This member declared not having a position on this financial instrument or a related financial instrument.
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