CAD/ZAR - 1H - Technical analysis published on 06/16/2023 (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:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
50%
28%
My opinion
Bearish under 13.8547 ZAR
My targets
13.7096 ZAR (-0.0742)
13.5507 ZAR (-0.2331)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on CAD/ZAR as long as the price remains well below 13.8547 ZAR. The sellers' bearish objective is set at 13.7096 ZAR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 13.5507 ZAR. In case of crossing, the next objective would be the support located at 13.3534 ZAR. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
7
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Additional analysis
Quotes
The CAD/ZAR rating is 13.7838 ZAR. The price registered an increase of +0.00% on the session and was traded between 13.7400 ZAR and 13.8053 ZAR over the period. The price is currently at +0.32% from its lowest and -0.16% from its highest.13.7400
13.8053
13.7838
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
Here is a more detailed summary of the historical variations registered by CAD/ZAR:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of CAD/ZAR in 1H shows a overall strongly bearish trend. 92.86% 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.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
Momentum indicator is back over 0
Type : Bullish
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 | 13.3534 | 13.5507 | 13.7096 | 13.7838 | 13.8547 | 14.0088 | 14.1620 |
| Change (%) | -3.12% | -1.69% | -0.54% | - | +0.51% | +1.63% | +2.74% |
| Change | -0.4304 | -0.2331 | -0.0742 | - | +0.0709 | +0.2250 | +0.3782 |
| Level | Minor | Major | Intermediate | - | Intermediate | Intermediate | 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 |
|---|---|---|---|---|---|---|---|
| Standard | 13.5431 | 13.6264 | 13.7051 | 13.7884 | 13.8671 | 13.9504 | 14.0291 |
| Camarilla | 13.7394 | 13.7542 | 13.7691 | 13.7839 | 13.7988 | 13.8136 | 13.8285 |
| Woodie | 13.5409 | 13.6253 | 13.7029 | 13.7873 | 13.8649 | 13.9493 | 14.0269 |
| Fibonacci | 13.6264 | 13.6883 | 13.7265 | 13.7884 | 13.8503 | 13.8885 | 13.9504 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.2721 | 13.6390 | 13.8335 | 14.2004 | 14.3949 | 14.7618 | 14.9563 |
| Camarilla | 13.8737 | 13.9252 | 13.9766 | 14.0281 | 14.0796 | 14.1310 | 14.1825 |
| Woodie | 13.1860 | 13.5959 | 13.7474 | 14.1573 | 14.3088 | 14.7187 | 14.8702 |
| Fibonacci | 13.6390 | 13.8534 | 13.9859 | 14.2004 | 14.4148 | 14.5473 | 14.7618 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.4672 | 12.9090 | 13.7238 | 14.1656 | 14.9804 | 15.4222 | 16.2370 |
| Camarilla | 14.1929 | 14.3081 | 14.4233 | 14.5385 | 14.6537 | 14.7689 | 14.8841 |
| Woodie | 12.6536 | 13.0023 | 13.9102 | 14.2589 | 15.1668 | 15.5155 | 16.4234 |
| Fibonacci | 12.9090 | 13.3891 | 13.6856 | 14.1656 | 14.6457 | 14.9422 | 15.4222 |
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): | 43.03 | |
| MACD (12,26,9): | -0.0069 | |
| Directional Movement: | -10.1480 | |
| AROON (14): | -64.2857 | |
| DEMA (21): | 13.7799 | |
| Parabolic SAR (0,02-0,02-0,2): | 13.8174 | |
| Elder Ray (13): | -0.0147 | |
| Super Trend (3,10): | 13.8627 | |
| Zig ZAG (10): | 13.7695 | |
| VORTEX (21): | 0.9691 | |
| Stochastique (14,3,5): | 38.13 | |
| TEMA (21): | 13.7875 | |
| Williams %R (14): | -67.46 | |
| Chande Momentum Oscillator (20): | -0.0048 | |
| Repulse (5,40,3): | -0.1380 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0050 | |
| Courbe Coppock: | 0.09 |
| MA7: | 13.9019 | |
| MA20: | 14.2228 | |
| MA50: | 13.9345 | |
| MA100: | 13.6311 | |
| MAexp7: | 13.7839 | |
| MAexp20: | 13.7884 | |
| MAexp50: | 13.8157 | |
| MAexp100: | 13.8848 | |
| Price / MA7: | -0.85% | |
| Price / MA20: | -3.09% | |
| Price / MA50: | -1.08% | |
| Price / MA100: | +1.12% | |
| Price / MAexp7: | +0.00% | |
| Price / MAexp20: | -0.03% | |
| Price / MAexp50: | -0.23% | |
| Price / MAexp100: | -0.73% |
Quotes :
-
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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