NZD/SEK - Daily - Technical analysis published on 08/03/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
61%
6%
33%
My opinion
Bearish under 6.5443 SEK
My targets
6.4643 SEK (-0.0502)
6.4049 SEK (-0.1096)
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 6.5443 SEK remains possible. It is advisable to trade NZD/SEK with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 6.5443 SEK. The next bearish objective for sellers is set at 6.4643 SEK. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 6.4049 SEK. In case of crossing, the next objective would be the support located at 6.3168 SEK. PS: if there is a bullish break in the resistance located at 6.5443 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
0.7
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
NZD/SEK rating 6.5145 SEK. On the day, this instrument lost -0.03% and was traded between 6.4928 SEK and 6.5356 SEK over the period. The price is currently at +0.33% from its lowest and -0.32% from its highest.6.4928
6.5356
6.5145
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
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 NZD/SEK in Daily shows an overall bearish trend. The signals given by moving averages are 64.29% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : Daily
The technical indicators are bullish. There is still some doubt about the price increase.
The Central Indicators scanner found this result concerning these indicators:
Aroon indicator bullish trend
Type : Bullish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 6.4049 | 6.4643 | 6.5089 | 6.5145 | 6.5443 | 6.5936 | 6.6572 |
| Change (%) | -1.68% | -0.77% | -0.09% | - | +0.46% | +1.21% | +2.19% |
| Change | -0.1096 | -0.0502 | -0.0056 | - | +0.0298 | +0.0791 | +0.1427 |
| Level | Major | Intermediate | Intermediate | - | Major | Minor | Major |
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 | 6.3855 | 6.4243 | 6.4705 | 6.5093 | 6.5555 | 6.5943 | 6.6405 |
| Camarilla | 6.4932 | 6.5010 | 6.5088 | 6.5166 | 6.5244 | 6.5322 | 6.5400 |
| Woodie | 6.3891 | 6.4262 | 6.4741 | 6.5112 | 6.5591 | 6.5962 | 6.6441 |
| Fibonacci | 6.4243 | 6.4568 | 6.4769 | 6.5093 | 6.5418 | 6.5619 | 6.5943 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.3132 | 6.3581 | 6.4297 | 6.4746 | 6.5462 | 6.5911 | 6.6627 |
| Camarilla | 6.4694 | 6.4800 | 6.4907 | 6.5014 | 6.5121 | 6.5228 | 6.5334 |
| Woodie | 6.3267 | 6.3648 | 6.4432 | 6.4813 | 6.5597 | 6.5978 | 6.6762 |
| Fibonacci | 6.3581 | 6.4026 | 6.4301 | 6.4746 | 6.5191 | 6.5466 | 6.5911 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.8905 | 6.1307 | 6.3296 | 6.5698 | 6.7687 | 7.0089 | 7.2078 |
| Camarilla | 6.4079 | 6.4481 | 6.4884 | 6.5286 | 6.5689 | 6.6091 | 6.6494 |
| Woodie | 5.8700 | 6.1204 | 6.3091 | 6.5595 | 6.7482 | 6.9986 | 7.1873 |
| Fibonacci | 6.1307 | 6.2984 | 6.4020 | 6.5698 | 6.7375 | 6.8411 | 7.0089 |
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): | 49.11 | |
| MACD (12,26,9): | -0.0226 | |
| Directional Movement: | -2.7448 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 6.4841 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.3900 | |
| Elder Ray (13): | 0.0103 | |
| Super Trend (3,10): | 6.6281 | |
| Zig ZAG (10): | 6.5204 | |
| VORTEX (21): | 0.8609 | |
| Stochastique (14,3,5): | 66.72 | |
| TEMA (21): | 6.4710 | |
| Williams %R (14): | -26.94 | |
| Chande Momentum Oscillator (20): | 0.0945 | |
| Repulse (5,40,3): | 0.3725 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0725 | |
| Courbe Coppock: | 1.73 |
| MA7: | 6.5032 | |
| MA20: | 6.5098 | |
| MA50: | 6.5712 | |
| MA100: | 6.5161 | |
| MAexp7: | 6.5030 | |
| MAexp20: | 6.5161 | |
| MAexp50: | 6.5390 | |
| MAexp100: | 6.5362 | |
| Price / MA7: | +0.17% | |
| Price / MA20: | +0.07% | |
| Price / MA50: | -0.86% | |
| Price / MA100: | -0.02% | |
| Price / MAexp7: | +0.18% | |
| Price / MAexp20: | -0.02% | |
| Price / MAexp50: | -0.37% | |
| 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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