CAD/SEK - Daily - Technical analysis published on 06/21/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
67%
6%
28%
My opinion
Bullish above 8.0294 SEK
My targets
8.2444 SEK (+0.0864)
8.3138 SEK (+0.1558)
My analysis
CAD/SEK is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 8.0294 SEK. The next resistance located at 8.2444 SEK is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 8.3138 SEK. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
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
8
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.
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Additional analysis
Quotes
The CAD/SEK rating is 8.1580 SEK. On the day, this instrument gained +0.00% with the lowest point at 8.1317 SEK and the highest point at 8.1733 SEK. The deviation from the price is +0.32% for the low point and -0.19% for the high point.8.1317
8.1733
8.1580
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of CAD/SEK indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 12 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 : Daily
MACD indicator: bearish divergence
Type : Bearish
Timeframe : Daily
RSI indicator: bearish divergence
Type : Bearish
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
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 resistance of channel
Type : Bearish
Timeframe : Daily
Near support of triangle
Type : Bullish
Timeframe : Daily
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish harami
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 7.8950 | 8.0294 | 8.1463 | 8.1580 | 8.2444 | 8.3138 |
| Change (%) | -3.22% | -1.58% | -0.14% | - | +1.06% | +1.91% |
| Change | -0.2630 | -0.1286 | -0.0117 | - | +0.0864 | +0.1558 |
| Level | Intermediate | Intermediate | 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 | 8.0429 | 8.0741 | 8.1162 | 8.1474 | 8.1895 | 8.2207 | 8.2628 |
| Camarilla | 8.1381 | 8.1449 | 8.1516 | 8.1583 | 8.1650 | 8.1717 | 8.1785 |
| Woodie | 8.0484 | 8.0768 | 8.1217 | 8.1501 | 8.1950 | 8.2234 | 8.2683 |
| Fibonacci | 8.0741 | 8.1021 | 8.1194 | 8.1474 | 8.1754 | 8.1927 | 8.2207 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.8588 | 7.9243 | 7.9985 | 8.0640 | 8.1382 | 8.2037 | 8.2779 |
| Camarilla | 8.0344 | 8.0472 | 8.0600 | 8.0728 | 8.0856 | 8.0984 | 8.1112 |
| Woodie | 7.8633 | 7.9265 | 8.0030 | 8.0662 | 8.1427 | 8.2059 | 8.2824 |
| Fibonacci | 7.9243 | 7.9776 | 8.0106 | 8.0640 | 8.1173 | 8.1503 | 8.2037 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.1299 | 7.3198 | 7.6562 | 7.8461 | 8.1825 | 8.3724 | 8.7088 |
| Camarilla | 7.8479 | 7.8961 | 7.9444 | 7.9926 | 8.0408 | 8.0891 | 8.1373 |
| Woodie | 7.2032 | 7.3564 | 7.7295 | 7.8827 | 8.2558 | 8.4090 | 8.7821 |
| Fibonacci | 7.3198 | 7.5209 | 7.6451 | 7.8461 | 8.0472 | 8.1714 | 8.3724 |
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): | 68.04 | |
| MACD (12,26,9): | 0.0836 | |
| Directional Movement: | 15.0381 | |
| AROON (14): | 85.7142 | |
| DEMA (21): | 8.1501 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.9973 | |
| Elder Ray (13): | 0.0756 | |
| Super Trend (3,10): | 7.9289 | |
| Zig ZAG (10): | 8.1439 | |
| VORTEX (21): | 1.2021 | |
| Stochastique (14,3,5): | 85.90 | |
| TEMA (21): | 8.1638 | |
| Williams %R (14): | -15.35 | |
| Chande Momentum Oscillator (20): | 0.0747 | |
| Repulse (5,40,3): | 0.7022 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1725 | |
| Courbe Coppock: | 2.50 |
| MA7: | 8.0836 | |
| MA20: | 8.0574 | |
| MA50: | 7.8247 | |
| MA100: | 7.7675 | |
| MAexp7: | 8.1078 | |
| MAexp20: | 8.0340 | |
| MAexp50: | 7.9001 | |
| MAexp100: | 7.8321 | |
| Price / MA7: | +0.92% | |
| Price / MA20: | +1.25% | |
| Price / MA50: | +4.26% | |
| Price / MA100: | +5.03% | |
| Price / MAexp7: | +0.62% | |
| Price / MAexp20: | +1.54% | |
| Price / MAexp50: | +3.26% | |
| Price / MAexp100: | +4.16% |
Quotes :
-
Real time data
-
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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