CAD/SEK - Daily - Technical analysis published on 07/17/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bearish
Technical indicators
6%
78%
17%
My opinion
Bearish under 7.8950 SEK
My targets
7.6983 SEK (-0.0416)
7.6226 SEK (-0.1173)
My analysis
The short-term decline is currently reinforcing the basic trend, which is only slightly bearish. It would be possible for traders to only trade short positions (for sale) on CAD/SEK as long as the price remains well below 7.8950 SEK. The next bearish objective for sellers is set at 7.6983 SEK. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 7.6226 SEK. In case of crossing, the next objective would be the support located at 7.5086 SEK.
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
4.5
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
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Additional analysis
Quotes
The CAD/SEK price is 7.7399 SEK. The price is lower by -0.01% since the last closing and was traded between 7.6959 SEK and 7.7718 SEK over the period. The price is currently at +0.57% from its lowest and -0.41% from its highest.7.6959
7.7718
7.7399
A bearish gap was detected at the opening by the Central Gaps scanner. There are a lot of sellers and they have the upper hand in the very short term.
Opening Gap DOWN
Type : Bearish
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 LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this CAD/SEK chart shows a slightly bearish trend. Only 53.57% of the signals given by moving averages are bearish. This slightly bearish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : Daily
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
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Horizontal support is broken
Type : Bearish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.5086 | 7.6226 | 7.6983 | 7.7399 | 7.7545 | 7.8950 | 8.0195 |
| Change (%) | -2.99% | -1.52% | -0.54% | - | +0.19% | +2.00% | +3.61% |
| Change | -0.2313 | -0.1173 | -0.0416 | - | +0.0146 | +0.1551 | +0.2796 |
| Level | Major | Intermediate | Major | - | Intermediate | Intermediate | Major |
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 | 7.6184 | 7.6791 | 7.7097 | 7.7704 | 7.8010 | 7.8617 | 7.8923 |
| Camarilla | 7.7153 | 7.7237 | 7.7320 | 7.7404 | 7.7488 | 7.7571 | 7.7655 |
| Woodie | 7.6035 | 7.6716 | 7.6948 | 7.7629 | 7.7861 | 7.8542 | 7.8774 |
| Fibonacci | 7.6791 | 7.7139 | 7.7355 | 7.7704 | 7.8052 | 7.8268 | 7.8617 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.1460 | 7.4429 | 7.5916 | 7.8885 | 8.0372 | 8.3341 | 8.4828 |
| Camarilla | 7.6179 | 7.6587 | 7.6996 | 7.7404 | 7.7813 | 7.8221 | 7.8629 |
| Woodie | 7.0720 | 7.4059 | 7.5176 | 7.8515 | 7.9632 | 8.2971 | 8.4088 |
| Fibonacci | 7.4429 | 7.6131 | 7.7183 | 7.8885 | 8.0587 | 8.1639 | 8.3341 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.7414 | 7.8519 | 8.0042 | 8.1147 | 8.2670 | 8.3775 | 8.5298 |
| Camarilla | 8.0843 | 8.1084 | 8.1325 | 8.1566 | 8.1807 | 8.2048 | 8.2289 |
| Woodie | 7.7624 | 7.8624 | 8.0252 | 8.1252 | 8.2880 | 8.3880 | 8.5508 |
| Fibonacci | 7.8519 | 7.9523 | 8.0143 | 8.1147 | 8.2151 | 8.2771 | 8.3775 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 26.73 | |
| MACD (12,26,9): | -0.0535 | |
| Directional Movement: | -23.5011 | |
| AROON (14): | -50.0000 | |
| DEMA (21): | 7.9684 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.1493 | |
| Elder Ray (13): | -0.2344 | |
| Super Trend (3,10): | 8.0107 | |
| Zig ZAG (10): | 7.7291 | |
| VORTEX (21): | 0.8387 | |
| Stochastique (14,3,5): | 2.99 | |
| TEMA (21): | 7.8624 | |
| Williams %R (14): | -94.13 | |
| Chande Momentum Oscillator (20): | -0.4679 | |
| Repulse (5,40,3): | -2.8861 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0240 | |
| Courbe Coppock: | 5.59 |
| MA7: | 7.9188 | |
| MA20: | 8.0757 | |
| MA50: | 7.9863 | |
| MA100: | 7.8214 | |
| MAexp7: | 7.8804 | |
| MAexp20: | 8.0061 | |
| MAexp50: | 7.9732 | |
| MAexp100: | 7.9017 | |
| Price / MA7: | -2.26% | |
| Price / MA20: | -4.16% | |
| Price / MA50: | -3.09% | |
| Price / MA100: | -1.04% | |
| Price / MAexp7: | -1.78% | |
| Price / MAexp20: | -3.32% | |
| Price / MAexp50: | -2.93% | |
| Price / MAexp100: | -2.05% |
Quotes :
-
Real time data
-
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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