CAD/ZAR - 1H - Technical analysis published on 04/18/2023 (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
72%
0%
28%
My opinion
Bullish above 13.5653 ZAR
My targets
13.7170 ZAR (+0.0460)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on CAD/ZAR as long as the price remains well above 13.5653 ZAR. The buyers' bullish objective is set at 13.7170 ZAR. A bullish break in this resistance would boost the bullish momentum. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, technical indicators confirm the bullish opinion of this analysis. 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
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Additional analysis
Quotes
The CAD/ZAR price is 13.6710 ZAR. The price has increased by +0.00% since the last closing and was traded between 13.6680 ZAR and 13.6854 ZAR over the period. The price is currently at +0.02% from its lowest and -0.11% from its highest.13.6680
13.6854
13.6710
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 (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of CAD/ZAR indicates that the overall trend is strongly bullish. 89.29% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 13 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
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 resistance of channel
Type : Bearish
Timeframe : 1 hour
Near horizontal support
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 harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 13.5006 | 13.5507 | 13.6634 | 13.6710 | 13.7170 |
| Change (%) | -1.25% | -0.88% | -0.06% | - | +0.34% |
| Change | -0.1704 | -0.1203 | -0.0076 | - | +0.0460 |
| Level | Intermediate | Major | Minor | - | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.3699 | 13.4348 | 13.5530 | 13.6179 | 13.7361 | 13.8010 | 13.9192 |
| Camarilla | 13.6210 | 13.6377 | 13.6545 | 13.6713 | 13.6881 | 13.7049 | 13.7217 |
| Woodie | 13.3967 | 13.4481 | 13.5798 | 13.6312 | 13.7629 | 13.8143 | 13.9460 |
| Fibonacci | 13.4348 | 13.5047 | 13.5479 | 13.6179 | 13.6878 | 13.7310 | 13.8010 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.1277 | 13.2799 | 13.4131 | 13.5653 | 13.6985 | 13.8507 | 13.9839 |
| Camarilla | 13.4678 | 13.4940 | 13.5201 | 13.5463 | 13.5725 | 13.5986 | 13.6248 |
| Woodie | 13.1182 | 13.2752 | 13.4036 | 13.5606 | 13.6890 | 13.8460 | 13.9744 |
| Fibonacci | 13.2799 | 13.3889 | 13.4563 | 13.5653 | 13.6743 | 13.7417 | 13.8507 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.3998 | 12.7377 | 12.9511 | 13.2890 | 13.5024 | 13.8403 | 14.0537 |
| Camarilla | 13.0129 | 13.0634 | 13.1140 | 13.1645 | 13.2150 | 13.2656 | 13.3161 |
| Woodie | 12.3376 | 12.7066 | 12.8889 | 13.2579 | 13.4402 | 13.8092 | 13.9915 |
| Fibonacci | 12.7377 | 12.9483 | 13.0784 | 13.2890 | 13.4996 | 13.6297 | 13.8403 |
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): | 64.06 | |
| MACD (12,26,9): | 0.0297 | |
| Directional Movement: | 15.4323 | |
| AROON (14): | 92.8571 | |
| DEMA (21): | 13.6818 | |
| Parabolic SAR (0,02-0,02-0,2): | 13.6615 | |
| Elder Ray (13): | 0.0171 | |
| Super Trend (3,10): | 13.6135 | |
| Zig ZAG (10): | 13.6728 | |
| VORTEX (21): | 1.2967 | |
| Stochastique (14,3,5): | 89.23 | |
| TEMA (21): | 13.6975 | |
| Williams %R (14): | -19.00 | |
| Chande Momentum Oscillator (20): | 0.0142 | |
| Repulse (5,40,3): | 0.0154 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0326 | |
| Courbe Coppock: | 1.11 |
| MA7: | 13.6377 | |
| MA20: | 13.4300 | |
| MA50: | 13.4168 | |
| MA100: | 13.0827 | |
| MAexp7: | 13.6721 | |
| MAexp20: | 13.6435 | |
| MAexp50: | 13.6097 | |
| MAexp100: | 13.5940 | |
| Price / MA7: | +0.24% | |
| Price / MA20: | +1.79% | |
| Price / MA50: | +1.89% | |
| Price / MA100: | +4.50% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | +0.20% | |
| Price / MAexp50: | +0.45% | |
| Price / MAexp100: | +0.57% |
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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