CAD/SEK - 1H - Technical analysis published on 06/24/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
22%
33%
44%
My opinion
Bullish above 7.6311 SEK
My targets
7.6983 SEK (+0.0236)
7.7546 SEK (+0.0799)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 7.6311 SEK remains possible. It is advisable to trade CAD/SEK with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 7.6311 SEK. The next bullish objective for buyers is set at 7.6983 SEK. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 7.7546 SEK. If there is any crossing, the next objective would be the resistance located at 7.8310 SEK. PS: if there is a bearish break in the support located at 7.6311 SEK we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.
Force
0
10
2.9
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Additional analysis
Quotes
The CAD/SEK price is 7.6747 SEK. On the day, this instrument lost -0.01% and was traded between 7.6737 SEK and 7.6771 SEK over the period. The price is currently at +0.01% from its lowest and -0.03% from its highest.7.6737
7.6771
7.6747
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
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 1H shows an overall bullish trend. 75.00% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators scanner detects bullish and bearish signals on moving averages that could impact this trend:
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Near support of channel
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 harami cross
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.5713 | 7.5951 | 7.6311 | 7.6747 | 7.6983 | 7.8310 | 7.8937 |
| Change (%) | -1.35% | -1.04% | -0.57% | - | +0.31% | +2.04% | +2.85% |
| Change | -0.1034 | -0.0796 | -0.0436 | - | +0.0236 | +0.1563 | +0.2190 |
| Level | Major | Intermediate | Intermediate | - | Major | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.6366 | 7.6523 | 7.6638 | 7.6795 | 7.6910 | 7.7067 | 7.7182 |
| Camarilla | 7.6677 | 7.6702 | 7.6727 | 7.6752 | 7.6777 | 7.6802 | 7.6827 |
| Woodie | 7.6344 | 7.6513 | 7.6616 | 7.6785 | 7.6888 | 7.7057 | 7.7160 |
| Fibonacci | 7.6523 | 7.6627 | 7.6691 | 7.6795 | 7.6899 | 7.6963 | 7.7067 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.5151 | 7.5550 | 7.6149 | 7.6548 | 7.7147 | 7.7546 | 7.8145 |
| Camarilla | 7.6473 | 7.6564 | 7.6656 | 7.6747 | 7.6839 | 7.6930 | 7.7022 |
| Woodie | 7.5250 | 7.5600 | 7.6248 | 7.6598 | 7.7246 | 7.7596 | 7.8244 |
| Fibonacci | 7.5550 | 7.5932 | 7.6167 | 7.6548 | 7.6930 | 7.7165 | 7.7546 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.2832 | 7.4892 | 7.6064 | 7.8124 | 7.9296 | 8.1356 | 8.2528 |
| Camarilla | 7.6348 | 7.6645 | 7.6941 | 7.7237 | 7.7533 | 7.7830 | 7.8126 |
| Woodie | 7.2389 | 7.4670 | 7.5621 | 7.7902 | 7.8853 | 8.1134 | 8.2085 |
| Fibonacci | 7.4892 | 7.6126 | 7.6889 | 7.8124 | 7.9358 | 8.0121 | 8.1356 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 50.77 | |
| MACD (12,26,9): | 0.0053 | |
| Directional Movement: | 4.6829 | |
| AROON (14): | 57.1429 | |
| DEMA (21): | 7.6854 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.6942 | |
| Elder Ray (13): | -0.0039 | |
| Super Trend (3,10): | 7.6503 | |
| Zig ZAG (10): | 7.6750 | |
| VORTEX (21): | 1.0240 | |
| Stochastique (14,3,5): | 45.18 | |
| TEMA (21): | 7.6819 | |
| Williams %R (14): | -75.46 | |
| Chande Momentum Oscillator (20): | -0.0114 | |
| Repulse (5,40,3): | -0.0303 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0139 | |
| Courbe Coppock: | 0.01 |
| MA7: | 7.6519 | |
| MA20: | 7.6503 | |
| MA50: | 7.8036 | |
| MA100: | 7.7708 | |
| MAexp7: | 7.6798 | |
| MAexp20: | 7.6770 | |
| MAexp50: | 7.6626 | |
| MAexp100: | 7.6497 | |
| Price / MA7: | +0.30% | |
| Price / MA20: | +0.32% | |
| Price / MA50: | -1.65% | |
| Price / MA100: | -1.24% | |
| Price / MAexp7: | -0.07% | |
| Price / MAexp20: | -0.03% | |
| Price / MAexp50: | +0.16% | |
| Price / MAexp100: | +0.33% |
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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