NZD/SEK - Daily - Technical analysis published on 09/12/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 6.5294 SEK
My targets
6.5936 SEK (+0.0348)
6.6572 SEK (+0.0984)
My analysis
In the short term, there could be an acceleration of the basic bullish trend on NZD/SEK. This is a positive signal for buyers. As long as the price remains above 6.5294 SEK, a purchase could be considered. The first bullish objective is located at 6.5936 SEK. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 6.6572 SEK as an objective. Crossing it would then enable buyers to target 6.7658 SEK. In the event of a return below 6.5294 SEK, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be risky.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7
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Additional analysis
Quotes
The NZD/SEK rating is 6.5588 SEK. On the day, this instrument lost -0.01% with the lowest point at 6.5524 SEK and the highest point at 6.5651 SEK. The deviation from the price is +0.10% for the low point and -0.10% for the high point.6.5524
6.5651
6.5588
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by NZD/SEK:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of NZD/SEK in Daily shows an overall bullish trend. The signals returned by the moving averages are 75.00% bullish. This bullish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Moving Average bullish crossovers : MA20 & MA50
Type : Bullish
Timeframe : Daily
The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Resistance of channel is broken
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 | 6.4067 | 6.4531 | 6.5294 | 6.5588 | 6.5936 | 6.6572 | 6.7658 |
| Change (%) | -2.32% | -1.61% | -0.45% | - | +0.53% | +1.50% | +3.16% |
| Change | -0.1521 | -0.1057 | -0.0294 | - | +0.0348 | +0.0984 | +0.2070 |
| Level | Major | Minor | Major | - | Intermediate | Major | Minor |
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 | 6.4921 | 6.5104 | 6.5348 | 6.5531 | 6.5775 | 6.5958 | 6.6202 |
| Camarilla | 6.5474 | 6.5513 | 6.5552 | 6.5591 | 6.5630 | 6.5669 | 6.5708 |
| Woodie | 6.4951 | 6.5119 | 6.5378 | 6.5546 | 6.5805 | 6.5973 | 6.6232 |
| Fibonacci | 6.5104 | 6.5267 | 6.5368 | 6.5531 | 6.5694 | 6.5795 | 6.5958 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.4162 | 6.4607 | 6.4982 | 6.5427 | 6.5802 | 6.6247 | 6.6622 |
| Camarilla | 6.5133 | 6.5208 | 6.5283 | 6.5358 | 6.5433 | 6.5508 | 6.5584 |
| Woodie | 6.4128 | 6.4590 | 6.4948 | 6.5410 | 6.5768 | 6.6230 | 6.6588 |
| Fibonacci | 6.4607 | 6.4920 | 6.5113 | 6.5427 | 6.5740 | 6.5933 | 6.6247 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.3006 | 6.3617 | 6.4525 | 6.5136 | 6.6044 | 6.6655 | 6.7563 |
| Camarilla | 6.5016 | 6.5156 | 6.5295 | 6.5434 | 6.5573 | 6.5713 | 6.5852 |
| Woodie | 6.3156 | 6.3691 | 6.4675 | 6.5210 | 6.6194 | 6.6729 | 6.7713 |
| Fibonacci | 6.3617 | 6.4197 | 6.4555 | 6.5136 | 6.5716 | 6.6074 | 6.6655 |
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): | 57.31 | |
| MACD (12,26,9): | 0.0136 | |
| Directional Movement: | 7.9542 | |
| AROON (14): | 50.0000 | |
| DEMA (21): | 6.5369 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.5020 | |
| Elder Ray (13): | 0.0271 | |
| Super Trend (3,10): | 6.6281 | |
| Zig ZAG (10): | 6.5614 | |
| VORTEX (21): | 1.1073 | |
| Stochastique (14,3,5): | 76.36 | |
| TEMA (21): | 6.5560 | |
| Williams %R (14): | -17.21 | |
| Chande Momentum Oscillator (20): | 0.0309 | |
| Repulse (5,40,3): | 0.0784 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0165 | |
| Courbe Coppock: | 1.44 |
| MA7: | 6.5417 | |
| MA20: | 6.5170 | |
| MA50: | 6.5145 | |
| MA100: | 6.5295 | |
| MAexp7: | 6.5440 | |
| MAexp20: | 6.5231 | |
| MAexp50: | 6.5200 | |
| MAexp100: | 6.5214 | |
| Price / MA7: | +0.26% | |
| Price / MA20: | +0.64% | |
| Price / MA50: | +0.68% | |
| Price / MA100: | +0.45% | |
| Price / MAexp7: | +0.23% | |
| Price / MAexp20: | +0.55% | |
| Price / MAexp50: | +0.60% | |
| Price / MAexp100: | +0.57% |
Quotes :
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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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