CAD/ZAR - 1H - Technical analysis published on 10/02/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
50%
17%
33%
My opinion
Bearish under 13.9624 ZAR
My targets
13.9067 ZAR (-0.0273)
13.8746 ZAR (-0.0594)
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 13.9624 ZAR. The sellers' bearish objective is set at 13.9067 ZAR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 13.8746 ZAR. In case of crossing, the next objective would be the support located at 13.5871 ZAR. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
5
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CAD/ZAR price is 13.9340 ZAR. The price registered a decrease of -0.02% on the session and was traded between 13.9013 ZAR and 13.9592 ZAR over the period. The price is currently at +0.24% from its lowest and -0.18% from its highest.13.9013
13.9592
13.9340
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 (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of CAD/ZAR indicates that the overall trend is strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
In fact, only 9 technical indicators out of 18 studied are currently bullish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
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 | 13.5871 | 13.8746 | 13.9067 | 13.9340 | 13.9624 | 14.1203 | 14.1972 |
| Change (%) | -2.49% | -0.43% | -0.20% | - | +0.20% | +1.34% | +1.89% |
| Change | -0.3469 | -0.0594 | -0.0273 | - | +0.0284 | +0.1863 | +0.2632 |
| Level | Major | Minor | Major | - | Intermediate | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.7135 | 13.8193 | 13.8779 | 13.9837 | 14.0423 | 14.1481 | 14.2067 |
| Camarilla | 13.8912 | 13.9063 | 13.9213 | 13.9364 | 13.9515 | 13.9665 | 13.9816 |
| Woodie | 13.6898 | 13.8075 | 13.8542 | 13.9719 | 14.0186 | 14.1363 | 14.1830 |
| Fibonacci | 13.8193 | 13.8821 | 13.9209 | 13.9837 | 14.0465 | 14.0853 | 14.1481 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.3955 | 13.6360 | 13.7862 | 14.0267 | 14.1769 | 14.4174 | 14.5676 |
| Camarilla | 13.8290 | 13.8648 | 13.9006 | 13.9364 | 13.9722 | 14.0080 | 14.0438 |
| Woodie | 13.3504 | 13.6134 | 13.7411 | 14.0041 | 14.1318 | 14.3948 | 14.5225 |
| Fibonacci | 13.6360 | 13.7853 | 13.8775 | 14.0267 | 14.1760 | 14.2682 | 14.4174 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.2248 | 13.4995 | 13.7179 | 13.9926 | 14.2110 | 14.4857 | 14.7041 |
| Camarilla | 13.8008 | 13.8460 | 13.8912 | 13.9364 | 13.9816 | 14.0268 | 14.0720 |
| Woodie | 13.1968 | 13.4854 | 13.6899 | 13.9785 | 14.1830 | 14.4716 | 14.6761 |
| Fibonacci | 13.4995 | 13.6878 | 13.8042 | 13.9926 | 14.1809 | 14.2973 | 14.4857 |
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): | 42.60 | |
| MACD (12,26,9): | -0.0251 | |
| Directional Movement: | -13.7163 | |
| AROON (14): | -7.1429 | |
| DEMA (21): | 13.9126 | |
| Parabolic SAR (0,02-0,02-0,2): | 13.9592 | |
| Elder Ray (13): | -0.0191 | |
| Super Trend (3,10): | 13.9983 | |
| Zig ZAG (10): | 13.9405 | |
| VORTEX (21): | 0.7751 | |
| Stochastique (14,3,5): | 60.31 | |
| TEMA (21): | 13.9221 | |
| Williams %R (14): | -32.99 | |
| Chande Momentum Oscillator (20): | 0.0036 | |
| Repulse (5,40,3): | 0.1061 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0338 | |
| Courbe Coppock: | 0.22 |
| MA7: | 14.0203 | |
| MA20: | 14.0215 | |
| MA50: | 13.9175 | |
| MA100: | 13.9978 | |
| MAexp7: | 13.9335 | |
| MAexp20: | 13.9501 | |
| MAexp50: | 14.0045 | |
| MAexp100: | 14.0356 | |
| Price / MA7: | -0.62% | |
| Price / MA20: | -0.62% | |
| Price / MA50: | +0.12% | |
| Price / MA100: | -0.46% | |
| Price / MAexp7: | +0.00% | |
| Price / MAexp20: | -0.12% | |
| Price / MAexp50: | -0.50% | |
| Price / MAexp100: | -0.72% |
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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