CAD/SEK - Daily - Technical analysis published on 10/13/2021 (GMT)
- 223
- 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 6.9509 SEK
My targets
7.1291 SEK (+0.0911)
7.3248 SEK (+0.2868)
My analysis
The bullish trend is currently very strong on CAD/SEK. As long as the price remains above the support at 6.9509 SEK, you could try to benefit from the boom. The first bullish objective is located at 7.1291 SEK. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 7.3248 SEK as an objective. Crossing it would then enable buyers to target 7.4700 SEK. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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 confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.6
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CAD/SEK price is 7.0380 SEK. The price registered a decrease of -0.08% on the session and was traded between 7.0343 SEK and 7.0450 SEK over the period. The price is currently at +0.05% from its lowest and -0.10% from its highest.7.0343
7.0450
7.0380
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
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 (1st january)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of CAD/SEK indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 14 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 80
Type : Neutral
Timeframe : Daily
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
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
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Three white soldiers
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 6.8199 | 6.9062 | 6.9509 | 7.0380 | 7.1291 | 7.3248 | 7.4700 |
| Change (%) | -3.10% | -1.87% | -1.24% | - | +1.29% | +4.08% | +6.14% |
| Change | -0.2181 | -0.1318 | -0.0871 | - | +0.0911 | +0.2868 | +0.4320 |
| Level | Intermediate | Intermediate | Major | - | Major | Minor | Intermediate |
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 | 6.9766 | 6.9944 | 7.0188 | 7.0366 | 7.0610 | 7.0788 | 7.1032 |
| Camarilla | 7.0317 | 7.0356 | 7.0394 | 7.0433 | 7.0472 | 7.0510 | 7.0549 |
| Woodie | 6.9800 | 6.9961 | 7.0222 | 7.0383 | 7.0644 | 7.0805 | 7.1066 |
| Fibonacci | 6.9944 | 7.0105 | 7.0205 | 7.0366 | 7.0527 | 7.0627 | 7.0788 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.8306 | 6.8687 | 6.9392 | 6.9773 | 7.0478 | 7.0859 | 7.1564 |
| Camarilla | 6.9797 | 6.9897 | 6.9997 | 7.0096 | 7.0196 | 7.0295 | 7.0395 |
| Woodie | 6.8467 | 6.8768 | 6.9553 | 6.9854 | 7.0639 | 7.0940 | 7.1725 |
| Fibonacci | 6.8687 | 6.9102 | 6.9359 | 6.9773 | 7.0188 | 7.0445 | 7.0859 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.6272 | 6.6901 | 6.7996 | 6.8625 | 6.9720 | 7.0349 | 7.1444 |
| Camarilla | 6.8617 | 6.8775 | 6.8933 | 6.9091 | 6.9249 | 6.9407 | 6.9565 |
| Woodie | 6.6505 | 6.7018 | 6.8229 | 6.8742 | 6.9953 | 7.0466 | 7.1677 |
| Fibonacci | 6.6901 | 6.7560 | 6.7966 | 6.8625 | 6.9284 | 6.9690 | 7.0349 |
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): | 78.74 | |
| MACD (12,26,9): | 0.0518 | |
| Directional Movement: | 19.8554 | |
| AROON (14): | 85.7142 | |
| DEMA (21): | 6.9950 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.9707 | |
| Elder Ray (13): | 0.0727 | |
| Super Trend (3,10): | 6.9153 | |
| Zig ZAG (10): | 7.0366 | |
| VORTEX (21): | 1.2801 | |
| Stochastique (14,3,5): | 95.83 | |
| TEMA (21): | 7.0401 | |
| Williams %R (14): | -6.86 | |
| Chande Momentum Oscillator (20): | 0.1419 | |
| Repulse (5,40,3): | 0.7681 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0700 | |
| Courbe Coppock: | 5.59 |
| MA7: | 7.0093 | |
| MA20: | 6.9058 | |
| MA50: | 6.8798 | |
| MA100: | 6.8789 | |
| MAexp7: | 7.0069 | |
| MAexp20: | 6.9369 | |
| MAexp50: | 6.8938 | |
| MAexp100: | 6.8679 | |
| Price / MA7: | +0.41% | |
| Price / MA20: | +1.91% | |
| Price / MA50: | +2.30% | |
| Price / MA100: | +2.31% | |
| Price / MAexp7: | +0.44% | |
| Price / MAexp20: | +1.46% | |
| Price / MAexp50: | +2.09% | |
| Price / MAexp100: | +2.48% |
Quotes :
-
Real time data
-
Forex
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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…
Add a comment
Comments
0 comments on the analysis CAD/SEK - Daily