CAD/SEK - 1H - Technical analysis published on 03/06/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
17%
44%
39%
My opinion
Bearish under 7.0682 SEK
My targets
6.9897 SEK (-0.0459)
6.9062 SEK (-0.1294)
My analysis
CAD/SEK is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 7.0682 SEK. The next support located at 6.9897 SEK is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 6.9062 SEK. Below this support, sellers could then target 6.6168 SEK. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
FORCE
0
10
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
The CAD/SEK rating is 7.0356 SEK. On the day, this instrument lost -0.23% and was between 7.0230 SEK and 7.0620 SEK. This implies that the price is at +0.18% from its lowest and at -0.37% from its highest.7.0230
7.0620
7.0356
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
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 LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CAD/SEK chart shows a sharp bearish trend. 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. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
In fact, only 8 technical indicators out of 18 studied are currently positioned bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Aroon indicator bullish trend
Type : Bullish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
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 engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 6.4926 | 6.6168 | 6.9062 | 7.0356 | 7.0376 | 7.0682 | 7.1291 |
| Change (%) | -7.72% | -5.95% | -1.84% | - | +0.03% | +0.46% | +1.33% |
| Change | -0.5430 | -0.4188 | -0.1294 | - | +0.0020 | +0.0326 | +0.0935 |
| Level | Minor | Intermediate | Intermediate | - | 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 | 6.9784 | 7.0049 | 7.0284 | 7.0549 | 7.0784 | 7.1049 | 7.1284 |
| Camarilla | 7.0381 | 7.0426 | 7.0472 | 7.0518 | 7.0564 | 7.0610 | 7.0656 |
| Woodie | 6.9768 | 7.0042 | 7.0268 | 7.0542 | 7.0768 | 7.1042 | 7.1268 |
| Fibonacci | 7.0049 | 7.0240 | 7.0358 | 7.0549 | 7.0740 | 7.0858 | 7.1049 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.8321 | 6.9897 | 7.0747 | 7.2323 | 7.3173 | 7.4749 | 7.5599 |
| Camarilla | 7.0931 | 7.1153 | 7.1376 | 7.1598 | 7.1820 | 7.2043 | 7.2265 |
| Woodie | 6.7959 | 6.9716 | 7.0385 | 7.2142 | 7.2811 | 7.4568 | 7.5237 |
| Fibonacci | 6.9897 | 7.0823 | 7.1396 | 7.2323 | 7.3249 | 7.3822 | 7.4749 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.7933 | 6.9703 | 7.0650 | 7.2420 | 7.3367 | 7.5137 | 7.6084 |
| Camarilla | 7.0851 | 7.1100 | 7.1349 | 7.1598 | 7.1847 | 7.2096 | 7.2345 |
| Woodie | 6.7523 | 6.9497 | 7.0240 | 7.2214 | 7.2957 | 7.4931 | 7.5674 |
| Fibonacci | 6.9703 | 7.0741 | 7.1382 | 7.2420 | 7.3458 | 7.4099 | 7.5137 |
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): | 35.74 | |
| MACD (12,26,9): | -0.0060 | |
| Directional Movement: | -10.8618 | |
| AROON (14): | -35.7143 | |
| DEMA (21): | 7.0411 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.0620 | |
| Elder Ray (13): | -0.0115 | |
| Super Trend (3,10): | 7.0798 | |
| Zig ZAG (10): | 7.0391 | |
| VORTEX (21): | 0.8946 | |
| Stochastique (14,3,5): | 49.43 | |
| TEMA (21): | 7.0462 | |
| Williams %R (14): | -60.66 | |
| Chande Momentum Oscillator (20): | -0.0046 | |
| Repulse (5,40,3): | -0.1915 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0134 | |
| Courbe Coppock: | 0.02 |
| MA7: | 7.1111 | |
| MA20: | 7.2474 | |
| MA50: | 7.2520 | |
| MA100: | 7.2506 | |
| MAexp7: | 7.0464 | |
| MAexp20: | 7.0496 | |
| MAexp50: | 7.0652 | |
| MAexp100: | 7.0988 | |
| Price / MA7: | -1.06% | |
| Price / MA20: | -2.92% | |
| Price / MA50: | -2.98% | |
| Price / MA100: | -2.97% | |
| Price / MAexp7: | -0.15% | |
| Price / MAexp20: | -0.20% | |
| Price / MAexp50: | -0.42% | |
| Price / MAexp100: | -0.89% |
This member declared not having a position on this financial instrument or a related financial instrument.
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