NZD/SEK - Daily - Technical analysis published on 05/11/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Neutral
Technical indicators
89%
0%
11%
My opinion
Bullish above 6.4201 SEK
My targets
6.5824 SEK (+0.0616)
6.6572 SEK (+0.1364)
My analysis
The current short-term bullish acceleration on NZD/SEK should quickly allow the basic trend to return to bullish. To avoid contradicting the short term, traders may prefer long positions (at the time of purchase) as long as the price remains well above 6.4201 SEK. Short-term buyers will use the resistance located at 6.5824 SEK as an objective. A bullish break in this resistance would boost the bullish momentum. The next bullish objective would then be set at 6.6572 SEK. Crossing this resistance would then open the door for buyers to target 6.7259 SEK. Caution, if there is a return to under 6.4201 SEK, it should not be forgotten that the basic trend is not yet clearly defined. Beware of against the trend sellers, many of whom will certainly benefit from this movement.
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
4.6
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
NZD/SEK rating 6.5208 SEK. On the day, this instrument gained +0.16% with the lowest point at 6.5100 SEK and the highest point at 6.5234 SEK. The deviation from the price is +0.17% for the low point and -0.04% for the high point.6.5100
6.5234
6.5208
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
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of NZD/SEK in Daily shows a neutral overall trend. The trend could quickly turn bullish 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 : Daily
Bullish trend reversal : adaptative moving average 100
Type : Bullish
Timeframe : Daily
The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Ichimoku : price is over the cloud
Type : Bullish
Timeframe : Daily
MACD indicator is back over 0
Type : Bullish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Resistance of channel is broken
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 doji star
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 6.3151 | 6.4201 | 6.5089 | 6.5208 | 6.5824 | 6.6572 | 6.7259 |
| Change (%) | -3.15% | -1.54% | -0.18% | - | +0.94% | +2.09% | +3.15% |
| Change | -0.2057 | -0.1007 | -0.0119 | - | +0.0616 | +0.1364 | +0.2051 |
| Level | Minor | Major | Major | - | Major | Major | 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 | 6.4067 | 6.4288 | 6.4694 | 6.4915 | 6.5321 | 6.5542 | 6.5948 |
| Camarilla | 6.4929 | 6.4986 | 6.5044 | 6.5101 | 6.5159 | 6.5216 | 6.5273 |
| Woodie | 6.4161 | 6.4334 | 6.4788 | 6.4961 | 6.5415 | 6.5588 | 6.6042 |
| Fibonacci | 6.4288 | 6.4527 | 6.4675 | 6.4915 | 6.5154 | 6.5302 | 6.5542 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.2097 | 6.2690 | 6.3322 | 6.3915 | 6.4547 | 6.5140 | 6.5772 |
| Camarilla | 6.3616 | 6.3728 | 6.3841 | 6.3953 | 6.4065 | 6.4178 | 6.4290 |
| Woodie | 6.2116 | 6.2700 | 6.3341 | 6.3925 | 6.4566 | 6.5150 | 6.5791 |
| Fibonacci | 6.2690 | 6.3158 | 6.3447 | 6.3915 | 6.4383 | 6.4672 | 6.5140 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.9175 | 6.0993 | 6.2198 | 6.4016 | 6.5221 | 6.7039 | 6.8244 |
| Camarilla | 6.2573 | 6.2850 | 6.3127 | 6.3404 | 6.3681 | 6.3958 | 6.4235 |
| Woodie | 5.8870 | 6.0840 | 6.1893 | 6.3863 | 6.4916 | 6.6886 | 6.7939 |
| Fibonacci | 6.0993 | 6.2148 | 6.2861 | 6.4016 | 6.5171 | 6.5884 | 6.7039 |
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): | 60.48 | |
| MACD (12,26,9): | 0.0059 | |
| Directional Movement: | 6.4377 | |
| AROON (14): | 78.5714 | |
| DEMA (21): | 6.4234 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.3396 | |
| Elder Ray (13): | 0.0822 | |
| Super Trend (3,10): | 6.3504 | |
| Zig ZAG (10): | 6.5190 | |
| VORTEX (21): | 1.0903 | |
| Stochastique (14,3,5): | 96.42 | |
| TEMA (21): | 6.4535 | |
| Williams %R (14): | -0.58 | |
| Chande Momentum Oscillator (20): | 0.1832 | |
| Repulse (5,40,3): | 1.2534 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0433 | |
| Courbe Coppock: | 2.60 |
| MA7: | 6.4477 | |
| MA20: | 6.3924 | |
| MA50: | 6.4592 | |
| MA100: | 6.5336 | |
| MAexp7: | 6.4596 | |
| MAexp20: | 6.4273 | |
| MAexp50: | 6.4548 | |
| MAexp100: | 6.4848 | |
| Price / MA7: | +1.13% | |
| Price / MA20: | +2.01% | |
| Price / MA50: | +0.95% | |
| Price / MA100: | -0.20% | |
| Price / MAexp7: | +0.95% | |
| Price / MAexp20: | +1.45% | |
| Price / MAexp50: | +1.02% | |
| Price / MAexp100: | +0.56% |
Quotes :
-
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
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