CAD/SEK - 1H - Technical analysis published on 07/09/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Slightly bearish
Technical indicators
72%
0%
28%
My opinion
Bullish above 6.7877 SEK
My targets
6.8132 SEK (+0.0099)
6.8600 SEK (+0.0567)
My analysis
The current short-term bullish trend is expected to quickly reset the neutral or bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for CAD/SEK as long as the price remains well above 6.7877 SEK. The buyers” bullish objective is set at 6.8132 SEK. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 6.8600 SEK. If there is any crossing, the next objective would be the resistance located at 6.9062 SEK. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 6.8132 SEK. On this resistance, against the trend traders who would like to go short on CAD/SEK with a bearish signal from their trading strategy, should not hesitate to act.
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
2.7
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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 6.8033 SEK. The price registered an increase of +0.25% on the session and was between 6.7749 SEK and 6.8114 SEK. This implies that the price is at +0.42% from its lowest and at -0.12% from its highest.6.7749
6.8114
6.8033
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
Here is a more detailed summary of the historical variations registered by CAD/SEK:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of CAD/SEK indicates that the overall trend is slightly bearish. Only 57.14% of the signals given by moving averages are bearish. This slightly bearish trend could quickly be reversed due to the strong bullish signals currently being given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
In fact, 13 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 6.6402 | 6.7769 | 6.7877 | 6.8033 | 6.8132 | 6.8600 | 6.9062 |
Change (%) | -2.40% | -0.39% | -0.23% | - | +0.15% | +0.83% | +1.51% |
Change | -0.1631 | -0.0264 | -0.0156 | - | +0.0099 | +0.0567 | +0.1029 |
Level | Intermediate | Intermediate | Minor | - | Major | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 6.7357 | 6.7563 | 6.7712 | 6.7918 | 6.8067 | 6.8273 | 6.8422 |
Camarilla | 6.7763 | 6.7796 | 6.7829 | 6.7861 | 6.7894 | 6.7926 | 6.7959 |
Woodie | 6.7329 | 6.7549 | 6.7684 | 6.7904 | 6.8039 | 6.8259 | 6.8394 |
Fibonacci | 6.7563 | 6.7699 | 6.7782 | 6.7918 | 6.8054 | 6.8137 | 6.8273 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 6.6855 | 6.7339 | 6.8049 | 6.8533 | 6.9243 | 6.9727 | 7.0437 |
Camarilla | 6.8430 | 6.8539 | 6.8649 | 6.8758 | 6.8867 | 6.8977 | 6.9086 |
Woodie | 6.6967 | 6.7396 | 6.8161 | 6.8590 | 6.9355 | 6.9784 | 7.0549 |
Fibonacci | 6.7339 | 6.7795 | 6.8077 | 6.8533 | 6.8989 | 6.9271 | 6.9727 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 6.5685 | 6.6713 | 6.7696 | 6.8724 | 6.9707 | 7.0735 | 7.1718 |
Camarilla | 6.8126 | 6.8310 | 6.8495 | 6.8679 | 6.8863 | 6.9048 | 6.9232 |
Woodie | 6.5663 | 6.6702 | 6.7674 | 6.8713 | 6.9685 | 7.0724 | 7.1696 |
Fibonacci | 6.6713 | 6.7481 | 6.7956 | 6.8724 | 6.9492 | 6.9967 | 7.0735 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
RSI (14): | 56.01 | |
MACD (12,26,9): | -0.0016 | |
Directional Movement: | 10.0408 | |
AROON (14): | -50.0000 | |
DEMA (21): | 6.7906 | |
Parabolic SAR (0,02-0,02-0,2): | 6.7768 | |
Elder Ray (13): | 0.0141 | |
Super Trend (3,10): | 6.8160 | |
Zig ZAG (10): | 6.8028 | |
VORTEX (21): | 1.0326 | |
Stochastique (14,3,5): | 72.73 | |
TEMA (21): | 6.7939 | |
Williams %R (14): | -22.46 | |
Chande Momentum Oscillator (20): | 0.0089 | |
Repulse (5,40,3): | 0.1886 | |
ROCnROLL: | -1 | |
TRIX (15,9): | -0.0088 | |
Courbe Coppock: | 0.03 |
MA7: | 6.8297 | |
MA20: | 6.8609 | |
MA50: | 6.9030 | |
MA100: | 7.0070 | |
MAexp7: | 6.7944 | |
MAexp20: | 6.7941 | |
MAexp50: | 6.8027 | |
MAexp100: | 6.8162 | |
Price / MA7: | -0.39% | |
Price / MA20: | -0.84% | |
Price / MA50: | -1.44% | |
Price / MA100: | -2.91% | |
Price / MAexp7: | +0.13% | |
Price / MAexp20: | +0.14% | |
Price / MAexp50: | +0.01% | |
Price / MAexp100: | -0.19% |
Quotes :
2020-07-09 10:18:52
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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
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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