CAD/ZAR
CAD ZAR
- ZAR (-)
- Real time data - Forex
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Forex
Ticker: CADZAR
ISIN:

CAD/ZAR - Daily - Technical analysis published on 02/12/2021 (GMT)

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  • Timeframe : Daily
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Summary of the analysis

Trends
Court terme: Strongly bearish
De fond: Strongly bearish
Technical indicators
11%
61%
28%
My opinion
Bearish under 11.6966 ZAR
My targets
11.3530 ZAR (-0.1535)
11.0697 ZAR (-0.4368)
My analysis
CAD/ZAR is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 11.6966 ZAR. The next support located at 11.3530 ZAR is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 11.0697 ZAR. Below this support, sellers could then target 10.7368 ZAR. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.

Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
7.3

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
15 min. 1H Weekly

Additional analysis

Quotes

CAD/ZAR rating 11.5065 ZAR. The price is lower by -0.08% since the last closing and was traded between 11.4883 ZAR and 11.5254 ZAR over the period. The price is currently at +0.16% from its lowest and -0.16% from its highest.

11.4883
11.5254
11.5065

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



Here is a more detailed summary of the historical variations registered by CAD/ZAR:
The Central Records scanner for higher/lower results shows the following items:

Central Records

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly


Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


Technical analysis of this Daily chart of CAD/ZAR indicates that the overall trend is strongly bearish. 89.29% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : Daily


Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Daily

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Central Indicators

Pivot points : price is under support 1

Type : Neutral

Timeframe : Weekly


Ichimoku : price is under the cloud

Type : Bearish

Timeframe : Daily


SuperTrend indicator bearish reversal

Type : Bearish

Timeframe : Daily


Price is back under the pivot point

Type : Bearish

Timeframe : Daily



Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:

Central Patterns

Near horizontal support

Type : Bullish

Timeframe : Daily


Support of channel is broken

Type : Bearish

Timeframe : Daily



For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:

Central Candlesticks

Bearish engulfing lines

Type : Bearish

Timeframe : Daily




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 10.1163 10.7368 11.3530 11.5065 11.6966 11.8929 12.2023
Change (%) -12.08% -6.69% -1.33% - +1.65% +3.36% +6.05%
Change -1.3902 -0.7697 -0.1535 - +0.1901 +0.3864 +0.6958
Level Intermediate Minor Major - Intermediate Minor Major



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
Standard11.357011.431811.474011.548811.591011.665811.7080
Camarilla11.484011.494811.505511.516211.526911.537711.5484
Woodie11.340711.423711.457711.540711.574711.657711.6917
Fibonacci11.431811.476511.504111.548811.593511.621111.6658


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard11.237411.423811.524611.711011.811811.998212.0990
Camarilla11.546311.572711.599011.625311.651611.678011.7043
Woodie11.194511.402411.481711.689611.768911.976812.0561
Fibonacci11.423811.533511.601311.711011.820711.888511.9982


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard10.697111.069711.462111.834712.227112.599712.9921
Camarilla11.644111.714311.784411.854511.924611.994812.0649
Woodie10.707011.074711.472011.839712.237012.604713.0020
Fibonacci11.069711.361911.542511.834712.126912.307512.5997

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): 35.81
MACD (12,26,9): -0.0677
Directional Movement: -8.0337
AROON (14): -92.8571
DEMA (21): 11.6322
Parabolic SAR (0,02-0,02-0,2): 11.6748
Elder Ray (13): -0.1533
Super Trend (3,10): 11.8901
Zig ZAG (10): 11.4992
VORTEX (21): 0.8593
Stochastique (14,3,5): 6.62
TEMA (21): 11.5696
Williams %R (14): -98.21
Chande Momentum Oscillator (20): -0.4297
Repulse (5,40,3): -1.2939
ROCnROLL: 2
TRIX (15,9): -0.0294
Courbe Coppock: 4.79
MA7: 11.6029
MA20: 11.7496
MA50: 11.7260
MA100: 11.9655
MAexp7: 11.5961
MAexp20: 11.7015
MAexp50: 11.7833
MAexp100: 11.9448
Price / MA7: -0.83%
Price / MA20: -2.07%
Price / MA50: -1.87%
Price / MA100: -3.84%
Price / MAexp7: -0.77%
Price / MAexp20: -1.67%
Price / MAexp50: -2.35%
Price / MAexp100: -3.67%

Quotes : 2021-02-12 08:10:52 - Real time data - Forex

This member declared not having a position on this financial instrument or a related financial instrument.

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