USD/NOK - 1H - Technical analysis published on 04/08/2022 (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 bearish
Underlying:
Slightly bullish
Technical indicators
17%
72%
11%
My opinion
Bearish under 8.8133 NOK
My targets
8.7508 NOK (-0.0268)
8.7167 NOK (-0.0609)
My analysis
The strong short-term decline in USD/NOK calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 8.8133 NOK, one could consider taking advantage of the short-term movement. The first bearish objective is located at 8.7508 NOK. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 8.7167 NOK as an objective. Crossing it would then enable sellers to target 8.6576 NOK. Be careful, a return to above 8.8133 NOK could jeopardize the reversal.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
2.1
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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 USD/NOK price is 8.7776 NOK. The price registered a decrease of -0.43% on the session with the lowest point at 8.7683 NOK and the highest point at 8.8265 NOK. The deviation from the price is +0.11% for the low point and -0.55% for the high point.8.7683
8.8265
8.7776
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
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 (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
A technical analysis in 1H of this USD/NOK chart shows a slightly bullish trend. 57.14% of the signals given by moving averages are bullish. Caution: a reversal of the trend could be possible given the strong bearish signals of short-term moving averages. An assessment of moving averages reveals several bearish and bullish signals:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bearish trend reversal : adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, 13 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
SuperTrend indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
MACD indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 8.6576 | 8.7167 | 8.7508 | 8.7776 | 8.8133 | 8.9467 | 9.0445 |
| Change (%) | -1.37% | -0.69% | -0.31% | - | +0.41% | +1.93% | +3.04% |
| Change | -0.1200 | -0.0609 | -0.0268 | - | +0.0357 | +0.1691 | +0.2669 |
| Level | Intermediate | Intermediate | Intermediate | - | Major | Intermediate | Intermediate |
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 | 8.6886 | 8.7197 | 8.7675 | 8.7986 | 8.8464 | 8.8775 | 8.9253 |
| Camarilla | 8.7936 | 8.8008 | 8.8081 | 8.8153 | 8.8225 | 8.8298 | 8.8370 |
| Woodie | 8.6970 | 8.7239 | 8.7759 | 8.8028 | 8.8548 | 8.8817 | 8.9337 |
| Fibonacci | 8.7197 | 8.7498 | 8.7685 | 8.7986 | 8.8287 | 8.8474 | 8.8775 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.3310 | 8.4450 | 8.5968 | 8.7108 | 8.8626 | 8.9766 | 9.1284 |
| Camarilla | 8.6754 | 8.6998 | 8.7241 | 8.7485 | 8.7729 | 8.7972 | 8.8216 |
| Woodie | 8.3498 | 8.4545 | 8.6156 | 8.7203 | 8.8814 | 8.9861 | 9.1472 |
| Fibonacci | 8.4450 | 8.5466 | 8.6093 | 8.7108 | 8.8124 | 8.8751 | 8.9766 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.0144 | 8.2867 | 8.5366 | 8.8089 | 9.0588 | 9.3311 | 9.5810 |
| Camarilla | 8.6428 | 8.6907 | 8.7385 | 8.7864 | 8.8343 | 8.8821 | 8.9300 |
| Woodie | 8.0031 | 8.2811 | 8.5253 | 8.8033 | 9.0475 | 9.3255 | 9.5697 |
| Fibonacci | 8.2867 | 8.4862 | 8.6095 | 8.8089 | 9.0084 | 9.1317 | 9.3311 |
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): | 42.25 | |
| MACD (12,26,9): | -0.0005 | |
| Directional Movement: | -9.7501 | |
| AROON (14): | -14.2857 | |
| DEMA (21): | 8.8029 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.8285 | |
| Elder Ray (13): | -0.0245 | |
| Super Trend (3,10): | 8.7711 | |
| Zig ZAG (10): | 8.7840 | |
| VORTEX (21): | 1.0444 | |
| Stochastique (14,3,5): | 26.23 | |
| TEMA (21): | 8.7964 | |
| Williams %R (14): | -70.62 | |
| Chande Momentum Oscillator (20): | -0.0177 | |
| Repulse (5,40,3): | -0.1802 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0067 | |
| Courbe Coppock: | 0.19 |
| MA7: | 8.7748 | |
| MA20: | 8.7644 | |
| MA50: | 8.8401 | |
| MA100: | 8.8790 | |
| MAexp7: | 8.7961 | |
| MAexp20: | 8.8011 | |
| MAexp50: | 8.7913 | |
| MAexp100: | 8.7714 | |
| Price / MA7: | +0.03% | |
| Price / MA20: | +0.15% | |
| Price / MA50: | -0.71% | |
| Price / MA100: | -1.14% | |
| Price / MAexp7: | -0.21% | |
| Price / MAexp20: | -0.27% | |
| Price / MAexp50: | -0.16% | |
| Price / MAexp100: | +0.07% |
Quotes :
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Real time data
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Forex
News
The last news published on USD/NOK at the time of the generation of this analysis was as follows:
Sizeable correction possible on USD/NOK, Trade idea for IntelThis member declared not having a position on this financial instrument or a related financial instrument.
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