CAD/ZAR - 1H - Technical analysis published on 07/31/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
67%
11%
My opinion
Bearish under 13.3587 ZAR
My targets
13.2297 ZAR (-0.0636)
13.1645 ZAR (-0.1288)
My analysis
The bearish trend is currently very strong for CAD/ZAR. As long as the price remains below the resistance at 13.3587 ZAR, you could try to take advantage of the bearish rally. The first bearish objective is located at 13.2297 ZAR. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 13.1645 ZAR as an objective. Crossing it would then enable sellers to target 12.7398 ZAR. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
7.1
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
CAD/ZAR rating 13.2933 ZAR. The price registered an increase of +0.00% on the session with the lowest point at 13.2729 ZAR and the highest point at 13.3395 ZAR. The deviation from the price is +0.15% for the low point and -0.35% for the high point.13.2729
13.3395
13.2933
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
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CAD/ZAR chart shows a sharp bearish trend. The signals given by moving averages are 89.29% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Near support of channel
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 13.1645 | 13.2297 | 13.2847 | 13.2933 | 13.3587 | 13.4251 | 13.5127 |
| Change (%) | -0.97% | -0.48% | -0.06% | - | +0.49% | +0.99% | +1.65% |
| Change | -0.1288 | -0.0636 | -0.0086 | - | +0.0654 | +0.1318 | +0.2194 |
| Level | Intermediate | Minor | Intermediate | - | Minor | Minor | Intermediate |
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 | 12.8828 | 13.0799 | 13.1868 | 13.3839 | 13.4908 | 13.6879 | 13.7948 |
| Camarilla | 13.2100 | 13.2379 | 13.2657 | 13.2936 | 13.3215 | 13.3493 | 13.3772 |
| Woodie | 12.8376 | 13.0574 | 13.1416 | 13.3614 | 13.4456 | 13.6654 | 13.7496 |
| Fibonacci | 13.0799 | 13.1961 | 13.2678 | 13.3839 | 13.5001 | 13.5718 | 13.6879 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.6870 | 12.9583 | 13.1260 | 13.3973 | 13.5650 | 13.8363 | 14.0040 |
| Camarilla | 13.1729 | 13.2131 | 13.2534 | 13.2936 | 13.3338 | 13.3741 | 13.4143 |
| Woodie | 12.6351 | 12.9324 | 13.0741 | 13.3714 | 13.5131 | 13.8104 | 13.9521 |
| Fibonacci | 12.9583 | 13.1260 | 13.2296 | 13.3973 | 13.5650 | 13.6686 | 13.8363 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.7621 | 13.2317 | 13.7270 | 14.1966 | 14.6919 | 15.1615 | 15.6568 |
| Camarilla | 13.9571 | 14.0455 | 14.1340 | 14.2224 | 14.3109 | 14.3993 | 14.4878 |
| Woodie | 12.7751 | 13.2381 | 13.7400 | 14.2030 | 14.7049 | 15.1679 | 15.6698 |
| Fibonacci | 13.2317 | 13.6003 | 13.8280 | 14.1966 | 14.5652 | 14.7929 | 15.1615 |
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): | 41.16 | |
| MACD (12,26,9): | -0.0292 | |
| Directional Movement: | -11.3756 | |
| AROON (14): | -92.8571 | |
| DEMA (21): | 13.2949 | |
| Parabolic SAR (0,02-0,02-0,2): | 13.3368 | |
| Elder Ray (13): | -0.0222 | |
| Super Trend (3,10): | 13.3962 | |
| Zig ZAG (10): | 13.3021 | |
| VORTEX (21): | 0.8014 | |
| Stochastique (14,3,5): | 17.26 | |
| TEMA (21): | 13.2741 | |
| Williams %R (14): | -70.06 | |
| Chande Momentum Oscillator (20): | -0.0044 | |
| Repulse (5,40,3): | 0.0556 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0324 | |
| Courbe Coppock: | 0.91 |
| MA7: | 13.3966 | |
| MA20: | 13.7114 | |
| MA50: | 13.9832 | |
| MA100: | 13.7932 | |
| MAexp7: | 13.3015 | |
| MAexp20: | 13.3318 | |
| MAexp50: | 13.3643 | |
| MAexp100: | 13.3972 | |
| Price / MA7: | -0.77% | |
| Price / MA20: | -3.05% | |
| Price / MA50: | -4.93% | |
| Price / MA100: | -3.62% | |
| Price / MAexp7: | -0.06% | |
| Price / MAexp20: | -0.29% | |
| Price / MAexp50: | -0.53% | |
| Price / MAexp100: | -0.78% |
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.
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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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