NOK/SEK - Daily - Technical analysis published on 01/26/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 1.0523 SEK
My targets
1.0264 SEK (-0.0105)
1.0199 SEK (-0.0170)
My analysis
The bearish trend is currently very strong for NOK/SEK. As long as the price remains below the resistance at 1.0523 SEK, you could try to take advantage of the bearish rally. The first bearish objective is located at 1.0264 SEK. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.0199 SEK as an objective. Crossing it would then enable sellers to target 0.9929 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.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
7.5
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NOK/SEK rating is 1.0369 SEK. The price has increased by +0.60% since the last closing and was traded between 1.0299 SEK and 1.0381 SEK over the period. The price is currently at +0.68% from its lowest and -0.12% from its highest.1.0299
1.0381
1.0369
Here is a more detailed summary of the historical variations registered by NOK/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 this Daily chart of NOK/SEK indicates that the overall trend is strongly bearish. 92.86% 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 currently does not detect any result that concerns moving averages.
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
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near support of channel
Type : Bullish
Timeframe : Daily
Near support of triangle
Type : Bullish
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 | 0.9929 | 1.0199 | 1.0264 | 1.0369 | 1.0523 | 1.0693 | 1.0843 |
| Change (%) | -4.24% | -1.64% | -1.01% | - | +1.49% | +3.12% | +4.57% |
| Change | -0.0440 | -0.0170 | -0.0105 | - | +0.0154 | +0.0324 | +0.0474 |
| Level | Intermediate | Intermediate | Intermediate | - | Minor | Intermediate | Minor |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0175 | 1.0232 | 1.0269 | 1.0326 | 1.0363 | 1.0420 | 1.0457 |
| Camarilla | 1.0281 | 1.0290 | 1.0298 | 1.0307 | 1.0316 | 1.0324 | 1.0333 |
| Woodie | 1.0166 | 1.0227 | 1.0260 | 1.0321 | 1.0354 | 1.0415 | 1.0448 |
| Fibonacci | 1.0232 | 1.0268 | 1.0290 | 1.0326 | 1.0362 | 1.0384 | 1.0420 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0044 | 1.0190 | 1.0300 | 1.0446 | 1.0556 | 1.0702 | 1.0812 |
| Camarilla | 1.0341 | 1.0364 | 1.0388 | 1.0411 | 1.0435 | 1.0458 | 1.0481 |
| Woodie | 1.0027 | 1.0181 | 1.0283 | 1.0437 | 1.0539 | 1.0693 | 1.0795 |
| Fibonacci | 1.0190 | 1.0288 | 1.0348 | 1.0446 | 1.0544 | 1.0604 | 1.0702 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.0000 | 1.0147 | 1.0399 | 1.0546 | 1.0798 | 1.0945 | 1.1197 |
| Camarilla | 1.0542 | 1.0579 | 1.0615 | 1.0652 | 1.0689 | 1.0725 | 1.0762 |
| Woodie | 1.0054 | 1.0173 | 1.0453 | 1.0572 | 1.0852 | 1.0971 | 1.1251 |
| Fibonacci | 1.0147 | 1.0299 | 1.0393 | 1.0546 | 1.0698 | 1.0792 | 1.0945 |
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): | 41.78 | |
| MACD (12,26,9): | -0.0043 | |
| Directional Movement: | -11.2544 | |
| AROON (14): | -35.7142 | |
| DEMA (21): | 1.0398 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.0554 | |
| Elder Ray (13): | -0.0081 | |
| Super Trend (3,10): | 1.0637 | |
| Zig ZAG (10): | 1.0365 | |
| VORTEX (21): | 0.8822 | |
| Stochastique (14,3,5): | 12.12 | |
| TEMA (21): | 1.0364 | |
| Williams %R (14): | -74.59 | |
| Chande Momentum Oscillator (20): | -0.0070 | |
| Repulse (5,40,3): | -0.3256 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0341 | |
| Courbe Coppock: | 2.07 |
| MA7: | 1.0384 | |
| MA20: | 1.0463 | |
| MA50: | 1.0494 | |
| MA100: | 1.0519 | |
| MAexp7: | 1.0387 | |
| MAexp20: | 1.0446 | |
| MAexp50: | 1.0488 | |
| MAexp100: | 1.0513 | |
| Price / MA7: | -0.14% | |
| Price / MA20: | -0.90% | |
| Price / MA50: | -1.19% | |
| Price / MA100: | -1.43% | |
| Price / MAexp7: | -0.17% | |
| Price / MAexp20: | -0.74% | |
| Price / MAexp50: | -1.13% | |
| Price / MAexp100: | -1.37% |
Quotes :
-
Real time data
-
Forex
News
The latest news and videos published on NOK/SEK at the time of the analysis were as follows:
“Wishful Thinking” NOK/SEKThis member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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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