USD/ZAR - 1H - Technical analysis published on 11/16/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : NEUTRAL
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bearish
Technical indicators
61%
6%
33%
My opinion
Neutral between 18.2702 ZAR and 18.3230 ZAR
My targets
-
My analysis
The strong short-term increase on USD/ZAR is in contrast to the bearish trend. Buyers are trying to regain control of the asset and a reversal of the trend could be possible. It would be interesting to understand what caused such a rebound. Has an economic announcement impacting the basics been published? As long as the price remains above 18.2702 ZAR, you could take advantage of the short-term boom. The first bullish objective would be 18.3230 ZAR. Then the price could move towards 18.4838 ZAR. Then 18.6850 ZAR by extension. Attention should be paid to the reaction of the price on these resistances to see if the sellers show up. Be careful, a return below 18.2702 ZAR could be a sign of a reversal of the bearish trend.
In the very short term, technical indicators are bullish and could soon allow change to a bullish sentiment.
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This analysis was given by hannahfreeman. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/ZAR price is 18.2978 ZAR. On the day, this instrument gained +0.61% and was traded between 18.1477 ZAR and 18.2984 ZAR over the period. The price is currently at +0.83% from its lowest and +0.00% from its highest.18.1477
18.2984
18.2978
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
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 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this USD/ZAR chart shows a bearish trend. 64.29% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages indicate that the overall trend could quickly run out of steam. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 18.0317 | 18.1091 | 18.2702 | 18.2978 | 18.4838 | 18.6850 | 18.7766 |
| Change (%) | -1.45% | -1.03% | -0.15% | - | +1.02% | +2.12% | +2.62% |
| Change | -0.2661 | -0.1887 | -0.0276 | - | +0.1860 | +0.3872 | +0.4788 |
| Level | Minor | Intermediate | Intermediate | - | Major | Minor | 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 | 17.9400 | 18.0246 | 18.1055 | 18.1901 | 18.2710 | 18.3556 | 18.4365 |
| Camarilla | 18.1410 | 18.1562 | 18.1713 | 18.1865 | 18.2017 | 18.2168 | 18.2320 |
| Woodie | 17.9383 | 18.0237 | 18.1038 | 18.1892 | 18.2693 | 18.3547 | 18.4348 |
| Fibonacci | 18.0246 | 18.0878 | 18.1269 | 18.1901 | 18.2533 | 18.2924 | 18.3556 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 17.6746 | 17.9160 | 18.3230 | 18.5644 | 18.9714 | 19.2128 | 19.6198 |
| Camarilla | 18.5518 | 18.6112 | 18.6707 | 18.7301 | 18.7895 | 18.8490 | 18.9084 |
| Woodie | 17.7575 | 17.9574 | 18.4059 | 18.6058 | 19.0543 | 19.2542 | 19.7027 |
| Fibonacci | 17.9160 | 18.1637 | 18.3167 | 18.5644 | 18.8121 | 18.9651 | 19.2128 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 17.2954 | 17.9623 | 18.3062 | 18.9731 | 19.3170 | 19.9839 | 20.3278 |
| Camarilla | 18.3722 | 18.4649 | 18.5575 | 18.6502 | 18.7429 | 18.8355 | 18.9282 |
| Woodie | 17.1340 | 17.8816 | 18.1448 | 18.8924 | 19.1556 | 19.9032 | 20.1664 |
| Fibonacci | 17.9623 | 18.3484 | 18.5869 | 18.9731 | 19.3592 | 19.5977 | 19.9839 |
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): | 53.49 | |
| MACD (12,26,9): | -0.0047 | |
| Directional Movement: | -0.1469 | |
| AROON (14): | 28.5714 | |
| DEMA (21): | 18.2176 | |
| Parabolic SAR (0,02-0,02-0,2): | 18.1502 | |
| Elder Ray (13): | 0.0283 | |
| Super Trend (3,10): | 18.2927 | |
| Zig ZAG (10): | 18.2773 | |
| VORTEX (21): | 1.0701 | |
| Stochastique (14,3,5): | 82.74 | |
| TEMA (21): | 18.2546 | |
| Williams %R (14): | -0.95 | |
| Chande Momentum Oscillator (20): | 0.0993 | |
| Repulse (5,40,3): | 0.3791 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0092 | |
| Courbe Coppock: | 0.45 |
| MA7: | 18.4734 | |
| MA20: | 18.6282 | |
| MA50: | 18.8663 | |
| MA100: | 18.7134 | |
| MAexp7: | 18.2452 | |
| MAexp20: | 18.2304 | |
| MAexp50: | 18.2944 | |
| MAexp100: | 18.3875 | |
| Price / MA7: | -0.95% | |
| Price / MA20: | -1.77% | |
| Price / MA50: | -3.01% | |
| Price / MA100: | -2.22% | |
| Price / MAexp7: | +0.29% | |
| Price / MAexp20: | +0.37% | |
| Price / MAexp50: | +0.02% | |
| Price / MAexp100: | -0.49% |
Quotes :
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Real time data
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Forex
News
Don't forget to follow the news on USD/ZAR. At the time of publication of this analysis, the latest news was as follows:
-
USD/ZAR Forecast April 12, 2023
-
USD/ZAR Forecast March 27, 2023
-
USD/ZAR Forecast February 22, 2023
-
USD/ZAR Forecast November 11, 2022
-
USD/ZAR Forecast November 7, 2022
This member declared not having a position on this financial instrument or a related financial instrument.
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