USD/NOK - 1H - Technical analysis published on 06/23/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
56%
0%
44%
My opinion
Bullish above 9.8949 NOK
My targets
10.0004 NOK (+0.0264)
10.0944 NOK (+0.1204)
My analysis
The bullish trend is currently very strong on USD/NOK. As long as the price remains above the support at 9.8949 NOK, you could try to benefit from the boom. The first bullish objective is located at 10.0004 NOK. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 10.0944 NOK as an objective. Crossing it would then enable buyers to target 10.2026 NOK. 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.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.5
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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 9.9740 NOK. The price has increased by +0.48% since the last closing with the lowest point at 9.8978 NOK and the highest point at 10.0242 NOK. The deviation from the price is +0.77% for the low point and -0.50% for the high point.9.8978
10.0242
9.9740
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 strongly bullish trend. 89.29% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a moderate bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near resistance of triangle
Type : Bearish
Timeframe : 1 hour
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 9.7712 | 9.8949 | 9.9672 | 9.9740 | 10.0004 | 10.0944 | 10.2026 |
| Change (%) | -2.03% | -0.79% | -0.07% | - | +0.26% | +1.21% | +2.29% |
| Change | -0.2028 | -0.0791 | -0.0068 | - | +0.0264 | +0.1204 | +0.2286 |
| Level | Minor | Major | Minor | - | Major | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.6923 | 9.7686 | 9.8474 | 9.9237 | 10.0025 | 10.0788 | 10.1576 |
| Camarilla | 9.8835 | 9.8977 | 9.9119 | 9.9261 | 9.9403 | 9.9545 | 9.9688 |
| Woodie | 9.6935 | 9.7692 | 9.8486 | 9.9243 | 10.0037 | 10.0794 | 10.1588 |
| Fibonacci | 9.7686 | 9.8279 | 9.8645 | 9.9237 | 9.9830 | 10.0196 | 10.0788 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.3157 | 9.4891 | 9.7476 | 9.9210 | 10.1795 | 10.3529 | 10.6114 |
| Camarilla | 9.8873 | 9.9269 | 9.9665 | 10.0061 | 10.0457 | 10.0853 | 10.1249 |
| Woodie | 9.3583 | 9.5104 | 9.7902 | 9.9423 | 10.2221 | 10.3742 | 10.6540 |
| Fibonacci | 9.4891 | 9.6541 | 9.7560 | 9.9210 | 10.0860 | 10.1879 | 10.3529 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.3489 | 8.7776 | 9.0728 | 9.5015 | 9.7967 | 10.2254 | 10.5206 |
| Camarilla | 9.1690 | 9.2354 | 9.3017 | 9.3681 | 9.4345 | 9.5008 | 9.5672 |
| Woodie | 8.2823 | 8.7442 | 9.0062 | 9.4681 | 9.7301 | 10.1920 | 10.4540 |
| Fibonacci | 8.7776 | 9.0541 | 9.2249 | 9.5015 | 9.7780 | 9.9488 | 10.2254 |
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): | 59.16 | |
| MACD (12,26,9): | 0.0177 | |
| Directional Movement: | 6.9641 | |
| AROON (14): | 7.1429 | |
| DEMA (21): | 9.9705 | |
| Parabolic SAR (0,02-0,02-0,2): | 9.9344 | |
| Elder Ray (13): | 0.0121 | |
| Super Trend (3,10): | 10.0008 | |
| Zig ZAG (10): | 9.9736 | |
| VORTEX (21): | 1.0949 | |
| Stochastique (14,3,5): | 58.52 | |
| TEMA (21): | 9.9758 | |
| Williams %R (14): | -44.22 | |
| Chande Momentum Oscillator (20): | 0.0283 | |
| Repulse (5,40,3): | 0.1641 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0204 | |
| Courbe Coppock: | 0.99 |
| MA7: | 9.9327 | |
| MA20: | 9.6821 | |
| MA50: | 9.5236 | |
| MA100: | 9.1795 | |
| MAexp7: | 9.9668 | |
| MAexp20: | 9.9485 | |
| MAexp50: | 9.9265 | |
| MAexp100: | 9.9150 | |
| Price / MA7: | +0.42% | |
| Price / MA20: | +3.01% | |
| Price / MA50: | +4.73% | |
| Price / MA100: | +8.66% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | +0.26% | |
| Price / MAexp50: | +0.48% | |
| Price / MAexp100: | +0.59% |
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.
About author
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