CAD/SEK - 1H - Technical analysis published on 04/28/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
22%
61%
17%
My opinion
Bearish under 7.0976 SEK
My targets
7.0614 SEK (-0.0183)
7.0392 SEK (-0.0405)
My analysis
The bearish trend is currently very strong for CAD/SEK. As long as the price remains below the resistance at 7.0976 SEK, you could try to take advantage of the bearish rally. The first bearish objective is located at 7.0614 SEK. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 7.0392 SEK as an objective. Crossing it would then enable sellers to target 6.9062 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 are neural in the very short term but do not change the general bearish opinion of this analysis.
FORCE
0
10
7.3
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
CAD/SEK rating 7.0797 SEK. The price is lower by -0.70% since the last closing and was traded between 7.0655 SEK and 7.1406 SEK over the period. The price is currently at +0.20% from its lowest and -0.85% from its highest.7.0655
7.1406
7.0797
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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 HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of CAD/SEK indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 4 are bullish, 3 are neutral and 11 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 6.9062 | 7.0392 | 7.0614 | 7.0797 | 7.0976 | 7.1097 | 7.1291 |
| Change (%) | -2.45% | -0.57% | -0.26% | - | +0.25% | +0.42% | +0.70% |
| Change | -0.1735 | -0.0405 | -0.0183 | - | +0.0179 | +0.0300 | +0.0494 |
| Level | Major | Minor | Minor | - | Major | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.0323 | 7.0648 | 7.0973 | 7.1298 | 7.1623 | 7.1948 | 7.2273 |
| Camarilla | 7.1118 | 7.1178 | 7.1237 | 7.1297 | 7.1357 | 7.1416 | 7.1476 |
| Woodie | 7.0322 | 7.0648 | 7.0972 | 7.1298 | 7.1622 | 7.1948 | 7.2272 |
| Fibonacci | 7.0648 | 7.0897 | 7.1050 | 7.1298 | 7.1547 | 7.1700 | 7.1948 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.9378 | 6.9996 | 7.0580 | 7.1198 | 7.1782 | 7.2400 | 7.2984 |
| Camarilla | 7.0834 | 7.0944 | 7.1054 | 7.1164 | 7.1274 | 7.1384 | 7.1495 |
| Woodie | 6.9361 | 6.9988 | 7.0563 | 7.1190 | 7.1765 | 7.2392 | 7.2967 |
| Fibonacci | 6.9996 | 7.0455 | 7.0739 | 7.1198 | 7.1657 | 7.1941 | 7.2400 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.2491 | 6.5074 | 6.7733 | 7.0316 | 7.2975 | 7.5558 | 7.8217 |
| Camarilla | 6.8950 | 6.9431 | 6.9912 | 7.0392 | 7.0873 | 7.1353 | 7.1834 |
| Woodie | 6.2529 | 6.5093 | 6.7771 | 7.0335 | 7.3013 | 7.5577 | 7.8255 |
| Fibonacci | 6.5074 | 6.7076 | 6.8314 | 7.0316 | 7.2318 | 7.3556 | 7.5558 |
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): | 30.33 | |
| MACD (12,26,9): | -0.0128 | |
| Directional Movement: | -20.5605 | |
| AROON (14): | -100.0000 | |
| DEMA (21): | 7.0969 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.1247 | |
| Elder Ray (13): | -0.0231 | |
| Super Trend (3,10): | 7.1369 | |
| Zig ZAG (10): | 7.0760 | |
| VORTEX (21): | 0.8219 | |
| Stochastique (14,3,5): | 2.03 | |
| TEMA (21): | 7.0872 | |
| Williams %R (14): | -98.50 | |
| Chande Momentum Oscillator (20): | -0.0592 | |
| Repulse (5,40,3): | -0.4132 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0132 | |
| Courbe Coppock: | 1.11 |
| MA7: | 7.1186 | |
| MA20: | 7.1375 | |
| MA50: | 7.1251 | |
| MA100: | 7.1792 | |
| MAexp7: | 7.0939 | |
| MAexp20: | 7.1106 | |
| MAexp50: | 7.1234 | |
| MAexp100: | 7.1279 | |
| Price / MA7: | -0.55% | |
| Price / MA20: | -0.81% | |
| Price / MA50: | -0.64% | |
| Price / MA100: | -1.39% | |
| Price / MAexp7: | -0.20% | |
| Price / MAexp20: | -0.43% | |
| Price / MAexp50: | -0.61% | |
| Price / MAexp100: | -0.68% |
This member declared not having a position on this financial instrument or a related financial instrument.
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