CAD/SEK - Daily - Technical analysis published on 04/25/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
67%
17%
My opinion
Bearish under 7.6983 SEK
My targets
7.4700 SEK (-0.0980)
7.1291 SEK (-0.4389)
My analysis
The bearish trend is currently very strong for CAD/SEK. As long as the price remains below the resistance at 7.6983 SEK, you could try to take advantage of the bearish rally. The first bearish objective is located at 7.4700 SEK. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 7.1291 SEK as an objective. Crossing it would then enable sellers to target 6.8178 SEK. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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 bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7.3
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Additional analysis
Quotes
The CAD/SEK price is 7.5680 SEK. The price registered an increase of +0.00% on the session and was traded between 7.5634 SEK and 7.5768 SEK over the period. The price is currently at +0.06% from its lowest and -0.12% from its highest.7.5634
7.5768
7.5680
Here is a more detailed summary of the historical variations registered by CAD/SEK:
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 CAD/SEK in Daily shows a overall strongly bearish trend. 89.29% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : Daily
The probability of a further decline is moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 6.8178 | 7.1291 | 7.4700 | 7.5680 | 7.6983 | 7.8950 | 8.0718 |
| Change (%) | -9.91% | -5.80% | -1.29% | - | +1.72% | +4.32% | +6.66% |
| Change | -0.7502 | -0.4389 | -0.0980 | - | +0.1303 | +0.3270 | +0.5038 |
| Level | Intermediate | Major | Major | - | 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 | 7.4923 | 7.5284 | 7.5482 | 7.5843 | 7.6041 | 7.6402 | 7.6600 |
| Camarilla | 7.5527 | 7.5579 | 7.5630 | 7.5681 | 7.5732 | 7.5784 | 7.5835 |
| Woodie | 7.4843 | 7.5243 | 7.5402 | 7.5802 | 7.5961 | 7.6361 | 7.6520 |
| Fibonacci | 7.5284 | 7.5497 | 7.5629 | 7.5843 | 7.6056 | 7.6188 | 7.6402 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.4262 | 7.5164 | 7.5657 | 7.6559 | 7.7052 | 7.7954 | 7.8447 |
| Camarilla | 7.5767 | 7.5895 | 7.6023 | 7.6151 | 7.6279 | 7.6407 | 7.6535 |
| Woodie | 7.4059 | 7.5062 | 7.5454 | 7.6457 | 7.6849 | 7.7852 | 7.8244 |
| Fibonacci | 7.5164 | 7.5697 | 7.6026 | 7.6559 | 7.7092 | 7.7421 | 7.7954 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.1587 | 7.3179 | 7.4986 | 7.6578 | 7.8385 | 7.9977 | 8.1784 |
| Camarilla | 7.5858 | 7.6170 | 7.6481 | 7.6793 | 7.7105 | 7.7416 | 7.7728 |
| Woodie | 7.1695 | 7.3233 | 7.5094 | 7.6632 | 7.8493 | 8.0031 | 8.1892 |
| Fibonacci | 7.3179 | 7.4477 | 7.5280 | 7.6578 | 7.7876 | 7.8679 | 7.9977 |
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): | 38.54 | |
| MACD (12,26,9): | -0.0178 | |
| Directional Movement: | -13.1664 | |
| AROON (14): | -78.5714 | |
| DEMA (21): | 7.6480 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.7535 | |
| Elder Ray (13): | -0.0846 | |
| Super Trend (3,10): | 7.7446 | |
| Zig ZAG (10): | 7.5737 | |
| VORTEX (21): | 0.9961 | |
| Stochastique (14,3,5): | 3.41 | |
| TEMA (21): | 7.6359 | |
| Williams %R (14): | -95.35 | |
| Chande Momentum Oscillator (20): | -0.1705 | |
| Repulse (5,40,3): | -1.0027 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0013 | |
| Courbe Coppock: | 1.50 |
| MA7: | 7.6456 | |
| MA20: | 7.6879 | |
| MA50: | 7.6810 | |
| MA100: | 7.7006 | |
| MAexp7: | 7.6285 | |
| MAexp20: | 7.6650 | |
| MAexp50: | 7.6875 | |
| MAexp100: | 7.7301 | |
| Price / MA7: | -1.01% | |
| Price / MA20: | -1.56% | |
| Price / MA50: | -1.47% | |
| Price / MA100: | -1.72% | |
| Price / MAexp7: | -0.79% | |
| Price / MAexp20: | -1.27% | |
| Price / MAexp50: | -1.55% | |
| Price / MAexp100: | -2.10% |
Quotes :
-
Real time data
-
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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