USD/SEK - 1H - Technical analysis published on 02/21/2023 (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:
Neutral
Underlying:
Bearish
Technical indicators
56%
6%
39%
My opinion
Bearish under 10.4312 SEK
My targets
10.3575 SEK (-0.0162)
10.3240 SEK (-0.0497)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on USD/SEK. As long as you are under the resistance located at 10.4312 SEK, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 10.3575 SEK would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 10.3240 SEK as an objective. Crossing it would then enable sellers to target 10.2483 SEK. If the resistance 10.4312 SEK were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
2.3
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
USD/SEK rating 10.3737 SEK. On the day, this instrument gained +0.25% and was traded between 10.3381 SEK and 10.3788 SEK over the period. The price is currently at +0.34% from its lowest and -0.05% from its highest.10.3381
10.3788
10.3737
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 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 bearish trend. 78.57% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. An assessment of moving averages reveals several bearish and bullish signals:
Bearish trend reversal : Moving Average 100
Type : Bearish
Timeframe : 1 hour
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
Moving Average bearish crossovers : MA50 & MA100
Type : Bearish
Timeframe : 1 hour
The probability of a further increase are moderate 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 : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
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 | 10.2483 | 10.3240 | 10.3575 | 10.3737 | 10.4312 | 10.4939 | 10.5575 |
| Change (%) | -1.21% | -0.48% | -0.16% | - | +0.55% | +1.16% | +1.77% |
| Change | -0.1254 | -0.0497 | -0.0162 | - | +0.0575 | +0.1202 | +0.1838 |
| Level | Minor | Intermediate | Minor | - | Intermediate | Major | Intermediate |
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 | 10.1334 | 10.2287 | 10.2883 | 10.3836 | 10.4432 | 10.5385 | 10.5981 |
| Camarilla | 10.3053 | 10.3195 | 10.3337 | 10.3479 | 10.3621 | 10.3763 | 10.3905 |
| Woodie | 10.1156 | 10.2198 | 10.2705 | 10.3747 | 10.4254 | 10.5296 | 10.5803 |
| Fibonacci | 10.2287 | 10.2879 | 10.3244 | 10.3836 | 10.4428 | 10.4793 | 10.5385 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.9725 | 10.1104 | 10.2817 | 10.4196 | 10.5909 | 10.7288 | 10.9001 |
| Camarilla | 10.3680 | 10.3963 | 10.4247 | 10.4530 | 10.4813 | 10.5097 | 10.5380 |
| Woodie | 9.9892 | 10.1188 | 10.2984 | 10.4280 | 10.6076 | 10.7372 | 10.9168 |
| Fibonacci | 10.1104 | 10.2285 | 10.3015 | 10.4196 | 10.5377 | 10.6107 | 10.7288 |
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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 44.03 | |
| MACD (12,26,9): | -0.0157 | |
| Directional Movement: | -5.2220 | |
| AROON (14): | 85.7142 | |
| DEMA (21): | 10.3409 | |
| Parabolic SAR (0,02-0,02-0,2): | 10.3377 | |
| Elder Ray (13): | 0.0051 | |
| Super Trend (3,10): | 10.4003 | |
| Zig ZAG (10): | 10.3627 | |
| VORTEX (21): | 0.9205 | |
| Stochastique (14,3,5): | 78.05 | |
| TEMA (21): | 10.3445 | |
| Williams %R (14): | -28.84 | |
| Chande Momentum Oscillator (20): | 0.0183 | |
| Repulse (5,40,3): | -0.0093 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0340 | |
| Courbe Coppock: | 0.05 |
| MA7: | 10.3959 | |
| MA20: | 10.4099 | |
| MA50: | 10.4142 | |
| MA100: | 10.6003 | |
| MAexp7: | 10.3584 | |
| MAexp20: | 10.3655 | |
| MAexp50: | 10.3967 | |
| MAexp100: | 10.4151 | |
| Price / MA7: | -0.21% | |
| Price / MA20: | -0.35% | |
| Price / MA50: | -0.39% | |
| Price / MA100: | -2.14% | |
| Price / MAexp7: | +0.15% | |
| Price / MAexp20: | +0.09% | |
| Price / MAexp50: | -0.21% | |
| Price / MAexp100: | -0.39% |
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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