USD/SEK - 1H - Technical analysis published on 10/08/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Bullish
Technical indicators
67%
6%
28%
My opinion
Bullish above 10.2827 SEK
My targets
10.3827 SEK (+0.0302)
10.4312 SEK (+0.0787)
My analysis
All elements being rather bullish, it would be possible for traders to only trade long positions (at the time of purchase) on USD/SEK as long as the price remains well above 10.2827 SEK. The buyers' bullish objective is set at 10.3827 SEK. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 10.4312 SEK. If there is any crossing, the next objective would be the resistance located at 10.6047 SEK. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bullish, basic trend. If you have another key point closer to the current price, it would be better to only trade long positions (at the time of purchase) above that key point.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
5.2
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Additional analysis
Quotes
The USD/SEK rating is 10.3525 SEK. On the day, this instrument lost -0.02% and was between 10.3213 SEK and 10.3750 SEK. This implies that the price is at +0.30% from its lowest and at -0.22% from its highest.10.3213
10.3750
10.3525
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of USD/SEK indicates that the overall trend is bullish. The signals given by moving averages are 71.43% bullish. This bullish trend is slowing down slightly given the slightly bullish signals of short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, according to the parameters integrated into the Central Analyzer system, 12 technical indicators out of 18 analysed are currently bullish. The Central Indicators scanner found no further results concerning independent technical indicators.
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 support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
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 : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 10.1624 | 10.2827 | 10.3454 | 10.3525 | 10.3827 | 10.4312 | 10.6047 |
| Change (%) | -1.84% | -0.67% | -0.07% | - | +0.29% | +0.76% | +2.44% |
| Change | -0.1901 | -0.0698 | -0.0071 | - | +0.0302 | +0.0787 | +0.2522 |
| Level | Major | Intermediate | Intermediate | - | Intermediate | 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 | 10.3007 | 10.3229 | 10.3389 | 10.3611 | 10.3771 | 10.3993 | 10.4153 |
| Camarilla | 10.3445 | 10.3480 | 10.3515 | 10.3550 | 10.3585 | 10.3620 | 10.3655 |
| Woodie | 10.2977 | 10.3214 | 10.3359 | 10.3596 | 10.3741 | 10.3978 | 10.4123 |
| Fibonacci | 10.3229 | 10.3375 | 10.3465 | 10.3611 | 10.3757 | 10.3847 | 10.3993 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.8282 | 9.9492 | 10.1567 | 10.2777 | 10.4852 | 10.6062 | 10.8137 |
| Camarilla | 10.2739 | 10.3040 | 10.3341 | 10.3642 | 10.3943 | 10.4244 | 10.4545 |
| Woodie | 9.8715 | 9.9708 | 10.2000 | 10.2993 | 10.5285 | 10.6278 | 10.8570 |
| Fibonacci | 9.9492 | 10.0747 | 10.1522 | 10.2777 | 10.4032 | 10.4807 | 10.6062 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.6195 | 9.8293 | 9.9954 | 10.2052 | 10.3713 | 10.5811 | 10.7472 |
| Camarilla | 10.0582 | 10.0927 | 10.1271 | 10.1616 | 10.1961 | 10.2305 | 10.2650 |
| Woodie | 9.5978 | 9.8184 | 9.9737 | 10.1943 | 10.3496 | 10.5702 | 10.7255 |
| Fibonacci | 9.8293 | 9.9729 | 10.0616 | 10.2052 | 10.3488 | 10.4375 | 10.5811 |
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): | 51.46 | |
| MACD (12,26,9): | -0.0008 | |
| Directional Movement: | 5.6438 | |
| AROON (14): | 21.4285 | |
| DEMA (21): | 10.3473 | |
| Parabolic SAR (0,02-0,02-0,2): | 10.3262 | |
| Elder Ray (13): | 0.0075 | |
| Super Trend (3,10): | 10.3747 | |
| Zig ZAG (10): | 10.3526 | |
| VORTEX (21): | 0.9809 | |
| Stochastique (14,3,5): | 73.42 | |
| TEMA (21): | 10.3461 | |
| Williams %R (14): | -42.83 | |
| Chande Momentum Oscillator (20): | 0.0031 | |
| Repulse (5,40,3): | -0.0648 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0050 | |
| Courbe Coppock: | 0.05 |
| MA7: | 10.2965 | |
| MA20: | 10.2276 | |
| MA50: | 10.3182 | |
| MA100: | 10.4458 | |
| MAexp7: | 10.3504 | |
| MAexp20: | 10.3492 | |
| MAexp50: | 10.3456 | |
| MAexp100: | 10.3208 | |
| Price / MA7: | +0.54% | |
| Price / MA20: | +1.22% | |
| Price / MA50: | +0.33% | |
| Price / MA100: | -0.89% | |
| Price / MAexp7: | +0.02% | |
| Price / MAexp20: | +0.03% | |
| Price / MAexp50: | +0.07% | |
| Price / MAexp100: | +0.31% |
Quotes :
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Real time data
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Forex
News
The latest news and videos published on USD/SEK at the time of the analysis were as follows:
USD/SEK Forecast August 29, 2024This 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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