CAD/SEK - 1H - Technical analysis published on 09/06/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
61%
11%
28%
My opinion
Bearish under 7.6006 SEK
My targets
7.5805 SEK (-0.0114)
7.5713 SEK (-0.0206)
My analysis
Has the basic bearish 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 bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 7.6006 SEK remains possible. It is advisable to trade CAD/SEK with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 7.6006 SEK. The next bearish objective for sellers is set at 7.5805 SEK. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 7.5713 SEK. In case of crossing, the next objective would be the support located at 7.5557 SEK. PS: if there is a bullish break in the resistance located at 7.6006 SEK we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
1.6
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Additional analysis
Quotes
The CAD/SEK rating is 7.5919 SEK. The price registered a decrease of -0.03% on the session and was traded between 7.5513 SEK and 7.6114 SEK over the period. The price is currently at +0.54% from its lowest and -0.26% from its highest.7.5513
7.6114
7.5919
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
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
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. 75.00% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
In fact, 11 technical indicators on 18 studied are currently bullish. The Central Indicators scanner specialised in technical indicators, has not detected anything further.
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 7.5713 | 7.5805 | 7.5898 | 7.5919 | 7.6006 | 7.6144 | 7.6259 |
| Change (%) | -0.27% | -0.15% | -0.03% | - | +0.11% | +0.30% | +0.45% |
| Change | -0.0206 | -0.0114 | -0.0021 | - | +0.0087 | +0.0225 | +0.0340 |
| Level | Intermediate | Intermediate | Minor | - | Minor | Intermediate | Intermediate |
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 | 7.5359 | 7.5581 | 7.5761 | 7.5983 | 7.6163 | 7.6385 | 7.6565 |
| Camarilla | 7.5831 | 7.5867 | 7.5904 | 7.5941 | 7.5978 | 7.6015 | 7.6052 |
| Woodie | 7.5338 | 7.5571 | 7.5740 | 7.5973 | 7.6142 | 7.6375 | 7.6544 |
| Fibonacci | 7.5581 | 7.5735 | 7.5829 | 7.5983 | 7.6137 | 7.6231 | 7.6385 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.4587 | 7.4938 | 7.5537 | 7.5888 | 7.6487 | 7.6838 | 7.7437 |
| Camarilla | 7.5876 | 7.5963 | 7.6050 | 7.6137 | 7.6224 | 7.6311 | 7.6398 |
| Woodie | 7.4712 | 7.5000 | 7.5662 | 7.5950 | 7.6612 | 7.6900 | 7.7562 |
| Fibonacci | 7.4938 | 7.5301 | 7.5525 | 7.5888 | 7.6251 | 7.6475 | 7.6838 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.2005 | 7.3426 | 7.4781 | 7.6202 | 7.7557 | 7.8978 | 8.0333 |
| Camarilla | 7.5374 | 7.5628 | 7.5883 | 7.6137 | 7.6392 | 7.6646 | 7.6900 |
| Woodie | 7.1973 | 7.3410 | 7.4749 | 7.6186 | 7.7525 | 7.8962 | 8.0301 |
| Fibonacci | 7.3426 | 7.4486 | 7.5141 | 7.6202 | 7.7262 | 7.7917 | 7.8978 |
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): | 50.84 | |
| MACD (12,26,9): | -0.0013 | |
| Directional Movement: | -12.3891 | |
| AROON (14): | 7.1429 | |
| DEMA (21): | 7.5856 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.5582 | |
| Elder Ray (13): | 0.0055 | |
| Super Trend (3,10): | 7.6012 | |
| Zig ZAG (10): | 7.5904 | |
| VORTEX (21): | 0.9915 | |
| Stochastique (14,3,5): | 68.50 | |
| TEMA (21): | 7.5882 | |
| Williams %R (14): | -33.78 | |
| Chande Momentum Oscillator (20): | 0.0207 | |
| Repulse (5,40,3): | -0.0513 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0068 | |
| Courbe Coppock: | 0.06 |
| MA7: | 7.5982 | |
| MA20: | 7.5870 | |
| MA50: | 7.6734 | |
| MA100: | 7.7324 | |
| MAexp7: | 7.5895 | |
| MAexp20: | 7.5885 | |
| MAexp50: | 7.5935 | |
| MAexp100: | 7.5959 | |
| Price / MA7: | -0.08% | |
| Price / MA20: | +0.06% | |
| Price / MA50: | -1.06% | |
| Price / MA100: | -1.82% | |
| Price / MAexp7: | +0.03% | |
| Price / MAexp20: | +0.04% | |
| Price / MAexp50: | -0.02% | |
| Price / MAexp100: | -0.05% |
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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