CAD/SEK - 1H - Technical analysis published on 02/13/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Slightly bullish
Technical indicators
72%
0%
28%
My opinion
Bullish above 7.7923 SEK
My targets
7.8482 SEK (+0.0080)
7.8729 SEK (+0.0327)
My analysis
The short-term increase currently reinforces the basic trend, which is only slightly bullish. It would be possible for traders to only trade long positions (at the time of purchase) on CAD/SEK as long as the price remains well above 7.7923 SEK. The buyers' bullish objective is set at 7.8482 SEK. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 7.8729 SEK. If there is any crossing, the next objective would be the resistance located at 7.9045 SEK.
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
5.2
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Additional analysis
Quotes
The CAD/SEK rating is 7.8402 SEK. The price registered an increase of +0.19% on the session with the lowest point at 7.8232 SEK and the highest point at 7.8421 SEK. The deviation from the price is +0.22% for the low point and -0.02% for the high point.7.8232
7.8421
7.8402
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of CAD/SEK in 1H shows an overall slightly bullish trend. 60.71% of the signals given by moving averages are bullish. This slightly bullish trend could be reinforced by the strong bullish signals given by short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish price crossover with Moving Average 100
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators shows a strong bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.6983 | 7.7550 | 7.7923 | 7.8402 | 7.8482 | 7.8729 | 7.9045 |
| Change (%) | -1.81% | -1.09% | -0.61% | - | +0.10% | +0.42% | +0.82% |
| Change | -0.1419 | -0.0852 | -0.0479 | - | +0.0080 | +0.0327 | +0.0643 |
| Level | Major | Intermediate | Intermediate | - | Major | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.7927 | 7.8039 | 7.8147 | 7.8259 | 7.8367 | 7.8479 | 7.8587 |
| Camarilla | 7.8195 | 7.8215 | 7.8235 | 7.8255 | 7.8275 | 7.8295 | 7.8316 |
| Woodie | 7.7925 | 7.8038 | 7.8145 | 7.8258 | 7.8365 | 7.8478 | 7.8585 |
| Fibonacci | 7.8039 | 7.8123 | 7.8175 | 7.8259 | 7.8343 | 7.8395 | 7.8479 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.4185 | 7.5414 | 7.6919 | 7.8148 | 7.9653 | 8.0882 | 8.2387 |
| Camarilla | 7.7673 | 7.7924 | 7.8174 | 7.8425 | 7.8676 | 7.8926 | 7.9177 |
| Woodie | 7.4324 | 7.5483 | 7.7058 | 7.8217 | 7.9792 | 8.0951 | 8.2526 |
| Fibonacci | 7.5414 | 7.6458 | 7.7103 | 7.8148 | 7.9192 | 7.9837 | 8.0882 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.3324 | 7.4593 | 7.6518 | 7.7787 | 7.9712 | 8.0981 | 8.2906 |
| Camarilla | 7.7565 | 7.7857 | 7.8150 | 7.8443 | 7.8736 | 7.9029 | 7.9321 |
| Woodie | 7.3652 | 7.4757 | 7.6846 | 7.7951 | 8.0040 | 8.1145 | 8.3234 |
| Fibonacci | 7.4593 | 7.5813 | 7.6567 | 7.7787 | 7.9007 | 7.9761 | 8.0981 |
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): | 67.19 | |
| MACD (12,26,9): | 0.0264 | |
| Directional Movement: | 15.0801 | |
| AROON (14): | 57.1429 | |
| DEMA (21): | 7.8316 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.8217 | |
| Elder Ray (13): | 0.0158 | |
| Super Trend (3,10): | 7.7809 | |
| Zig ZAG (10): | 7.8387 | |
| VORTEX (21): | 1.2516 | |
| Stochastique (14,3,5): | 81.84 | |
| TEMA (21): | 7.8598 | |
| Williams %R (14): | -12.14 | |
| Chande Momentum Oscillator (20): | 0.0558 | |
| Repulse (5,40,3): | 0.2100 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0446 | |
| Courbe Coppock: | 2.62 |
| MA7: | 7.8377 | |
| MA20: | 7.7644 | |
| MA50: | 7.7226 | |
| MA100: | 7.8626 | |
| MAexp7: | 7.8302 | |
| MAexp20: | 7.8008 | |
| MAexp50: | 7.7892 | |
| MAexp100: | 7.8048 | |
| Price / MA7: | +0.03% | |
| Price / MA20: | +0.98% | |
| Price / MA50: | +1.52% | |
| Price / MA100: | -0.28% | |
| Price / MAexp7: | +0.13% | |
| Price / MAexp20: | +0.51% | |
| Price / MAexp50: | +0.65% | |
| Price / MAexp100: | +0.45% |
Quotes :
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Real time data
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Forex
This member declared not having a position on this financial instrument or a related financial instrument.
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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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