USD/NOK - 1H - Technical analysis published on 07/07/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
17%
28%
56%
My opinion
Bullish above 10.7101 NOK
My targets
10.8079 NOK (+0.0475)
10.8391 NOK (+0.0787)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on USD/NOK as long as the price remains well above 10.7101 NOK. The buyers' bullish objective is set at 10.8079 NOK. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 10.8391 NOK. If there is any crossing, the next objective would be the resistance located at 10.8853 NOK. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
3.9
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/NOK price is 10.7604 NOK. On the day, this instrument lost -0.01% with the lowest point at 10.7341 NOK and the highest point at 10.7802 NOK. The deviation from the price is +0.25% for the low point and -0.18% for the high point.10.7341
10.7802
10.7604
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 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. 82.14% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages show a weakening of the global trend. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
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 resistance of triangle
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 | 10.6011 | 10.6684 | 10.7101 | 10.7604 | 10.7612 | 10.8079 | 10.8391 |
| Change (%) | -1.48% | -0.85% | -0.47% | - | +0.01% | +0.44% | +0.73% |
| Change | -0.1593 | -0.0920 | -0.0503 | - | +0.0008 | +0.0475 | +0.0787 |
| Level | Intermediate | Intermediate | Minor | - | Major | Minor | 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 | 10.4632 | 10.5541 | 10.6580 | 10.7489 | 10.8528 | 10.9437 | 11.0476 |
| Camarilla | 10.7083 | 10.7262 | 10.7440 | 10.7619 | 10.7798 | 10.7976 | 10.8155 |
| Woodie | 10.4697 | 10.5574 | 10.6645 | 10.7522 | 10.8593 | 10.9470 | 11.0541 |
| Fibonacci | 10.5541 | 10.6285 | 10.6745 | 10.7489 | 10.8233 | 10.8693 | 10.9437 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.4368 | 10.5476 | 10.6439 | 10.7547 | 10.8510 | 10.9618 | 11.0581 |
| Camarilla | 10.6834 | 10.7023 | 10.7213 | 10.7403 | 10.7593 | 10.7783 | 10.7973 |
| Woodie | 10.4297 | 10.5440 | 10.6368 | 10.7511 | 10.8439 | 10.9582 | 11.0510 |
| Fibonacci | 10.5476 | 10.6267 | 10.6756 | 10.7547 | 10.8338 | 10.8827 | 10.9618 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.6658 | 10.0668 | 10.4035 | 10.8045 | 11.1412 | 11.5422 | 11.8789 |
| Camarilla | 10.5374 | 10.6051 | 10.6727 | 10.7403 | 10.8079 | 10.8756 | 10.9432 |
| Woodie | 9.6338 | 10.0507 | 10.3715 | 10.7884 | 11.1092 | 11.5261 | 11.8469 |
| Fibonacci | 10.0668 | 10.3486 | 10.5227 | 10.8045 | 11.0863 | 11.2604 | 11.5422 |
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): | 52.60 | |
| MACD (12,26,9): | 0.0140 | |
| Directional Movement: | 4.2405 | |
| AROON (14): | -100.0000 | |
| DEMA (21): | 10.7742 | |
| Parabolic SAR (0,02-0,02-0,2): | 10.8398 | |
| Elder Ray (13): | -0.0095 | |
| Super Trend (3,10): | 10.6965 | |
| Zig ZAG (10): | 10.7526 | |
| VORTEX (21): | 1.0889 | |
| Stochastique (14,3,5): | 49.98 | |
| TEMA (21): | 10.7733 | |
| Williams %R (14): | -53.58 | |
| Chande Momentum Oscillator (20): | -0.0117 | |
| Repulse (5,40,3): | 0.0832 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0262 | |
| Courbe Coppock: | 0.08 |
| MA7: | 10.7259 | |
| MA20: | 10.7037 | |
| MA50: | 10.7945 | |
| MA100: | 10.6428 | |
| MAexp7: | 10.7624 | |
| MAexp20: | 10.7531 | |
| MAexp50: | 10.7267 | |
| MAexp100: | 10.7177 | |
| Price / MA7: | +0.32% | |
| Price / MA20: | +0.53% | |
| Price / MA50: | -0.32% | |
| Price / MA100: | +1.10% | |
| Price / MAexp7: | -0.02% | |
| Price / MAexp20: | +0.07% | |
| Price / MAexp50: | +0.31% | |
| Price / MAexp100: | +0.40% |
Quotes :
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Real time data
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Forex
News
The latest news and videos published on USD/NOK at the time of the analysis were 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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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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