USD/SEK - 1H - Technical analysis published on 10/01/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
56%
6%
39%
My opinion
Bullish above 10.2506 SEK
My targets
10.2973 SEK (+0.0231)
10.4010 SEK (+0.1268)
My analysis
The bullish trend is currently very strong on USD/SEK. As long as the price remains above the support at 10.2506 SEK, you could try to benefit from the boom. The first bullish objective is located at 10.2973 SEK. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 10.4010 SEK as an objective. Crossing it would then enable buyers to target 10.4312 SEK. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
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
7.7
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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 rating is 10.2742 SEK. The price registered an increase of +1.11% on the session and was between 10.1446 SEK and 10.3054 SEK. This implies that the price is at +1.28% from its lowest and at -0.30% from its highest.10.1446
10.3054
10.2742
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of USD/SEK indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The technical indicators are bullish. There is still some doubt about the price increase.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 10.1624 | 10.1993 | 10.2506 | 10.2742 | 10.2973 | 10.4312 | 10.6047 |
| Change (%) | -1.09% | -0.73% | -0.23% | - | +0.22% | +1.53% | +3.22% |
| Change | -0.1118 | -0.0749 | -0.0236 | - | +0.0231 | +0.1570 | +0.3305 |
| Level | Major | Intermediate | Minor | - | Intermediate | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.9797 | 10.0249 | 10.0933 | 10.1385 | 10.2069 | 10.2521 | 10.3205 |
| Camarilla | 10.1304 | 10.1408 | 10.1512 | 10.1616 | 10.1720 | 10.1824 | 10.1928 |
| Woodie | 9.9912 | 10.0307 | 10.1048 | 10.1443 | 10.2184 | 10.2579 | 10.3320 |
| Fibonacci | 10.0249 | 10.0683 | 10.0951 | 10.1385 | 10.1819 | 10.2087 | 10.2521 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.7299 | 9.8844 | 9.9882 | 10.1427 | 10.2465 | 10.4010 | 10.5048 |
| Camarilla | 10.0209 | 10.0446 | 10.0682 | 10.0919 | 10.1156 | 10.1393 | 10.1629 |
| Woodie | 9.7045 | 9.8717 | 9.9628 | 10.1300 | 10.2211 | 10.3883 | 10.4794 |
| Fibonacci | 9.8844 | 9.9831 | 10.0441 | 10.1427 | 10.2414 | 10.3024 | 10.4010 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.6195 | 9.8293 | 9.9954 | 10.2052 | 10.3713 | 10.5811 | 10.7472 |
| Camarilla | 10.0582 | 10.0927 | 10.1271 | 10.1616 | 10.1961 | 10.2305 | 10.2650 |
| Woodie | 9.5978 | 9.8184 | 9.9737 | 10.1943 | 10.3496 | 10.5702 | 10.7255 |
| Fibonacci | 9.8293 | 9.9729 | 10.0616 | 10.2052 | 10.3488 | 10.4375 | 10.5811 |
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): | 70.77 | |
| MACD (12,26,9): | 0.0329 | |
| Directional Movement: | 13.8002 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 10.2756 | |
| Parabolic SAR (0,02-0,02-0,2): | 10.3041 | |
| Elder Ray (13): | 0.0167 | |
| Super Trend (3,10): | 10.2142 | |
| Zig ZAG (10): | 10.2719 | |
| VORTEX (21): | 1.2240 | |
| Stochastique (14,3,5): | 70.07 | |
| TEMA (21): | 10.2873 | |
| Williams %R (14): | -27.92 | |
| Chande Momentum Oscillator (20): | 0.0621 | |
| Repulse (5,40,3): | 0.1268 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0469 | |
| Courbe Coppock: | 1.77 |
| MA7: | 10.1585 | |
| MA20: | 10.2246 | |
| MA50: | 10.3659 | |
| MA100: | 10.4640 | |
| MAexp7: | 10.2638 | |
| MAexp20: | 10.2324 | |
| MAexp50: | 10.1863 | |
| MAexp100: | 10.1632 | |
| Price / MA7: | +1.14% | |
| Price / MA20: | +0.49% | |
| Price / MA50: | -0.88% | |
| Price / MA100: | -1.81% | |
| Price / MAexp7: | +0.10% | |
| Price / MAexp20: | +0.41% | |
| Price / MAexp50: | +0.86% | |
| Price / MAexp100: | +1.09% |
Quotes :
-
Real time data
-
Forex
News
The last news published on USD/SEK at the time of the generation of this analysis was as follows:
USD/SEK Forecast August 29, 2024This 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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