CAD/SEK - 1H - Technical analysis published on 02/15/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
44%
22%
33%
My opinion
Bearish under 7.7780 SEK
My targets
7.7476 SEK (-0.0152)
7.6983 SEK (-0.0645)
My analysis
In the short term, we can see an acceleration in the bearish trend on CAD/SEK, which is a positive signal for sellers. As long as the price remains above 7.7780 SEK, a sale could be considered. The first bearish objective is located at 7.7476 SEK. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 7.6983 SEK as an objective. Crossing it would then enable sellers to target 7.6642 SEK. If the price were to return above 7.7780 SEK, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
3.6
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Additional analysis
Quotes
CAD/SEK rating 7.7628 SEK. The price is lower by -0.02% since the last closing and was between 7.7332 SEK and 7.8066 SEK. This implies that the price is at +0.38% from its lowest and at -0.56% from its highest.7.7332
7.8066
7.7628
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 (1 year)
Type : Bearish
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
Technical analysis of this 1H chart of CAD/SEK indicates that the overall trend is bearish. The signals given by moving averages are 75.00% bearish. This bearish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish trend reversal : Moving Average 100
Type : Bullish
Timeframe : 1 hour
On the 18 technical indicators analysed, 8 are bullish, 6 are neutral and 4 are bearish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Price is back under the pivot point
Type : Bearish
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
The presence of these Japanese chandelier patterns detected by Central Candlesticks that could impact the current short-term trend were also noted:
Doji
Type : Neutral
Timeframe : 1 hour
Three white soldiers
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.6642 | 7.6983 | 7.7476 | 7.7628 | 7.7780 | 7.8503 | 7.8729 |
| Change (%) | -1.27% | -0.83% | -0.20% | - | +0.20% | +1.13% | +1.42% |
| Change | -0.0986 | -0.0645 | -0.0152 | - | +0.0152 | +0.0875 | +0.1101 |
| Level | Major | Major | Minor | - | Intermediate | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.6553 | 7.6832 | 7.7239 | 7.7518 | 7.7925 | 7.8204 | 7.8611 |
| Camarilla | 7.7457 | 7.7520 | 7.7583 | 7.7646 | 7.7709 | 7.7772 | 7.7835 |
| Woodie | 7.6617 | 7.6864 | 7.7303 | 7.7550 | 7.7989 | 7.8236 | 7.8675 |
| Fibonacci | 7.6832 | 7.7094 | 7.7256 | 7.7518 | 7.7780 | 7.7942 | 7.8204 |
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): | 47.06 | |
| MACD (12,26,9): | -0.0029 | |
| Directional Movement: | 9.8327 | |
| AROON (14): | -21.4285 | |
| DEMA (21): | 7.7608 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.7971 | |
| Elder Ray (13): | 0.0045 | |
| Super Trend (3,10): | 7.7913 | |
| Zig ZAG (10): | 7.7636 | |
| VORTEX (21): | 0.9655 | |
| Stochastique (14,3,5): | 30.06 | |
| TEMA (21): | 7.7622 | |
| Williams %R (14): | -60.08 | |
| Chande Momentum Oscillator (20): | 0.0022 | |
| Repulse (5,40,3): | 0.1019 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0009 | |
| Courbe Coppock: | 0.14 |
| MA7: | 7.8009 | |
| MA20: | 7.7636 | |
| MA50: | 7.7233 | |
| MA100: | 7.8566 | |
| MAexp7: | 7.7595 | |
| MAexp20: | 7.7641 | |
| MAexp50: | 7.7705 | |
| MAexp100: | 7.7820 | |
| Price / MA7: | -0.49% | |
| Price / MA20: | -0.01% | |
| Price / MA50: | +0.51% | |
| Price / MA100: | -1.19% | |
| Price / MAexp7: | +0.04% | |
| Price / MAexp20: | -0.02% | |
| Price / MAexp50: | -0.10% | |
| Price / MAexp100: | -0.25% |
Quotes :
-
Real time data
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Forex
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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