EUR/SEK - 1H - Technical analysis published on 09/07/2023 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
44%
11%
44%
My opinion
Bullish above 11.8830 SEK
My targets
11.9427 SEK (+0.0262)
11.9642 SEK (+0.0477)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on EUR/SEK as long as the price remains well above 11.8830 SEK. The buyers' bullish objective is set at 11.9427 SEK. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 11.9642 SEK. 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.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
6.1
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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 EUR/SEK price is 11.9165 SEK. On the day, this instrument gained +0.00% with the lowest point at 11.9113 SEK and the highest point at 11.9249 SEK. The deviation from the price is +0.04% for the low point and -0.07% for the high point.11.9113
11.9249
11.9165
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
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this EUR/SEK chart shows a strongly bullish trend. The signals given by moving averages are 85.71% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
The probability of a further increase is slight given the direction of the technical indicators.
The Central Indicators scanner found no further results concerning independent technical indicators.
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near support of channel
Type : Bullish
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 | 11.8424 | 11.8830 | 11.9061 | 11.9165 | 11.9248 | 11.9427 | 11.9642 |
| Change (%) | -0.62% | -0.28% | -0.09% | - | +0.07% | +0.22% | +0.40% |
| Change | -0.0741 | -0.0335 | -0.0104 | - | +0.0083 | +0.0262 | +0.0477 |
| Level | Intermediate | Intermediate | Major | - | Intermediate | Intermediate | Minor |
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 | 11.8353 | 11.8591 | 11.8881 | 11.9119 | 11.9409 | 11.9647 | 11.9937 |
| Camarilla | 11.9025 | 11.9073 | 11.9122 | 11.9170 | 11.9218 | 11.9267 | 11.9315 |
| Woodie | 11.8378 | 11.8604 | 11.8906 | 11.9132 | 11.9434 | 11.9660 | 11.9962 |
| Fibonacci | 11.8591 | 11.8793 | 11.8918 | 11.9119 | 11.9321 | 11.9446 | 11.9647 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.6374 | 11.7159 | 11.8073 | 11.8858 | 11.9772 | 12.0557 | 12.1471 |
| Camarilla | 11.8521 | 11.8677 | 11.8832 | 11.8988 | 11.9144 | 11.9300 | 11.9455 |
| Woodie | 11.6440 | 11.7191 | 11.8139 | 11.8890 | 11.9838 | 12.0589 | 12.1537 |
| Fibonacci | 11.7159 | 11.7808 | 11.8209 | 11.8858 | 11.9507 | 11.9908 | 12.0557 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.2418 | 11.4039 | 11.6401 | 11.8022 | 12.0384 | 12.2005 | 12.4367 |
| Camarilla | 11.7669 | 11.8034 | 11.8399 | 11.8764 | 11.9129 | 11.9494 | 11.9859 |
| Woodie | 11.2790 | 11.4224 | 11.6773 | 11.8207 | 12.0756 | 12.2190 | 12.4739 |
| Fibonacci | 11.4039 | 11.5560 | 11.6500 | 11.8022 | 11.9543 | 12.0483 | 12.2005 |
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): | 53.46 | |
| MACD (12,26,9): | 0.0025 | |
| Directional Movement: | -12.9537 | |
| AROON (14): | 28.5714 | |
| DEMA (21): | 11.9202 | |
| Parabolic SAR (0,02-0,02-0,2): | 11.9326 | |
| Elder Ray (13): | -0.0004 | |
| Super Trend (3,10): | 11.8811 | |
| Zig ZAG (10): | 11.9189 | |
| VORTEX (21): | 1.0623 | |
| Stochastique (14,3,5): | 63.57 | |
| TEMA (21): | 11.9191 | |
| Williams %R (14): | -32.86 | |
| Chande Momentum Oscillator (20): | 0.0007 | |
| Repulse (5,40,3): | 0.0395 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0042 | |
| Courbe Coppock: | 0.03 |
| MA7: | 11.8903 | |
| MA20: | 11.8794 | |
| MA50: | 11.7415 | |
| MA100: | 11.6192 | |
| MAexp7: | 11.9176 | |
| MAexp20: | 11.9164 | |
| MAexp50: | 11.9099 | |
| MAexp100: | 11.9007 | |
| Price / MA7: | +0.22% | |
| Price / MA20: | +0.31% | |
| Price / MA50: | +1.49% | |
| Price / MA100: | +2.56% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | +0.00% | |
| Price / MAexp50: | +0.06% | |
| Price / MAexp100: | +0.14% |
Quotes :
-
Real time data
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Forex
News
Don't forget to follow the news on EUR/SEK. At the time of publication of this analysis, the latest news was as follows:
-
EUR/SEK To Head Higher
-
Hows does more Riksbank QE impact USD/SEK and EUR/SEK ?
-
EUR/SEK to Grind Lower
-
Danske Bank On EUR/SEK
-
Nordea on EUR/SEK
This 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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