USD/SEK - 1H - Technical analysis published on 02/05/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 10.5234 SEK
My targets
10.6339 SEK (+0.0952)
10.6963 SEK (+0.1576)
My analysis
USD/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 10.5234 SEK. The next resistance located at 10.6339 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 10.6963 SEK. After this resistance, buyers could then target 10.8469 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.
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
8.4
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/SEK price is 10.5387 SEK. The price is lower by -0.01% since the last closing and was between 10.5302 SEK and 10.5403 SEK. This implies that the price is at +0.08% from its lowest and at -0.02% from its highest.10.5302
10.5403
10.5387
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by USD/SEK:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this USD/SEK chart shows a strongly bullish trend. 89.29% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
RSI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
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 horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 10.3517 | 10.4312 | 10.5234 | 10.5387 | 10.6963 | 10.8469 | 11.1928 |
| Change (%) | -1.77% | -1.02% | -0.15% | - | +1.50% | +2.92% | +6.21% |
| Change | -0.1870 | -0.1075 | -0.0153 | - | +0.1576 | +0.3082 | +0.6541 |
| Level | Major | Major | Minor | - | Intermediate | Minor | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.2026 | 10.2763 | 10.4077 | 10.4814 | 10.6128 | 10.6865 | 10.8179 |
| Camarilla | 10.4828 | 10.5016 | 10.5204 | 10.5392 | 10.5580 | 10.5768 | 10.5956 |
| Woodie | 10.2316 | 10.2907 | 10.4367 | 10.4958 | 10.6418 | 10.7009 | 10.8469 |
| Fibonacci | 10.2763 | 10.3546 | 10.4030 | 10.4814 | 10.5597 | 10.6081 | 10.6865 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.0975 | 10.1921 | 10.3657 | 10.4603 | 10.6339 | 10.7285 | 10.9021 |
| Camarilla | 10.4655 | 10.4900 | 10.5146 | 10.5392 | 10.5638 | 10.5884 | 10.6130 |
| Woodie | 10.1369 | 10.2119 | 10.4051 | 10.4801 | 10.6733 | 10.7483 | 10.9415 |
| Fibonacci | 10.1921 | 10.2946 | 10.3579 | 10.4603 | 10.5628 | 10.6261 | 10.7285 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.5854 | 9.8803 | 10.1597 | 10.4546 | 10.7340 | 11.0289 | 11.3083 |
| Camarilla | 10.2812 | 10.3338 | 10.3865 | 10.4391 | 10.4917 | 10.5444 | 10.5970 |
| Woodie | 9.5777 | 9.8764 | 10.1520 | 10.4507 | 10.7263 | 11.0250 | 11.3006 |
| Fibonacci | 9.8803 | 10.0997 | 10.2352 | 10.4546 | 10.6740 | 10.8095 | 11.0289 |
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): | 72.54 | |
| MACD (12,26,9): | 0.0469 | |
| Directional Movement: | 18.9031 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 10.5163 | |
| Parabolic SAR (0,02-0,02-0,2): | 10.4054 | |
| Elder Ray (13): | 0.0435 | |
| Super Trend (3,10): | 10.4489 | |
| Zig ZAG (10): | 10.5392 | |
| VORTEX (21): | 1.1860 | |
| Stochastique (14,3,5): | 96.28 | |
| TEMA (21): | 10.5505 | |
| Williams %R (14): | -7.70 | |
| Chande Momentum Oscillator (20): | 0.1730 | |
| Repulse (5,40,3): | 0.2625 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0460 | |
| Courbe Coppock: | 2.81 |
| MA7: | 10.3784 | |
| MA20: | 10.3575 | |
| MA50: | 10.4004 | |
| MA100: | 10.6783 | |
| MAexp7: | 10.5211 | |
| MAexp20: | 10.4615 | |
| MAexp50: | 10.4164 | |
| MAexp100: | 10.3916 | |
| Price / MA7: | +1.54% | |
| Price / MA20: | +1.75% | |
| Price / MA50: | +1.33% | |
| Price / MA100: | -1.31% | |
| Price / MAexp7: | +0.17% | |
| Price / MAexp20: | +0.74% | |
| Price / MAexp50: | +1.17% | |
| Price / MAexp100: | +1.42% |
Quotes :
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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
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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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