CAD/ZAR - 1H - Technical analysis published on 02/15/2024 (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:
Neutral
Underlying:
Bearish
Technical indicators
61%
6%
33%
My opinion
Bearish under 14.0872 ZAR
My targets
14.0497 ZAR (-0.0185)
14.0251 ZAR (-0.0431)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 14.0872 ZAR remains possible. It is advisable to trade CAD/ZAR with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 14.0872 ZAR. The next bearish objective for sellers is set at 14.0497 ZAR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 14.0251 ZAR. In case of crossing, the next objective would be the support located at 13.9827 ZAR. PS: if there is a bullish break in the resistance located at 14.0872 ZAR we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
1.4
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Additional analysis
Quotes
The CAD/ZAR rating is 14.0682 ZAR. The price is lower by -0.03% since the last closing and was between 14.0089 ZAR and 14.0866 ZAR. This implies that the price is at +0.42% from its lowest and at -0.13% from its highest.14.0089
14.0866
14.0682
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CAD/ZAR chart shows a bearish trend. 75.00% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed 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 under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 13.9827 | 14.0251 | 14.0497 | 14.0682 | 14.0872 | 14.1043 | 14.1695 |
| Change (%) | -0.61% | -0.31% | -0.13% | - | +0.14% | +0.26% | +0.72% |
| Change | -0.0855 | -0.0431 | -0.0185 | - | +0.0190 | +0.0361 | +0.1013 |
| Level | Intermediate | Minor | Intermediate | - | Minor | Minor | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.9052 | 13.9735 | 14.0231 | 14.0914 | 14.1410 | 14.2093 | 14.2589 |
| Camarilla | 14.0403 | 14.0511 | 14.0619 | 14.0727 | 14.0835 | 14.0943 | 14.1051 |
| Woodie | 13.8959 | 13.9688 | 14.0138 | 14.0867 | 14.1317 | 14.2046 | 14.2496 |
| Fibonacci | 13.9735 | 14.0185 | 14.0464 | 14.0914 | 14.1364 | 14.1643 | 14.2093 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.7822 | 13.8639 | 14.0056 | 14.0873 | 14.2290 | 14.3107 | 14.4524 |
| Camarilla | 14.0859 | 14.1063 | 14.1268 | 14.1473 | 14.1678 | 14.1883 | 14.2087 |
| Woodie | 13.8122 | 13.8789 | 14.0356 | 14.1023 | 14.2590 | 14.3257 | 14.4824 |
| Fibonacci | 13.8639 | 13.9492 | 14.0020 | 14.0873 | 14.1726 | 14.2254 | 14.3107 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.1735 | 13.4814 | 13.6909 | 13.9988 | 14.2083 | 14.5162 | 14.7257 |
| Camarilla | 13.7582 | 13.8056 | 13.8531 | 13.9005 | 13.9479 | 13.9954 | 14.0428 |
| Woodie | 13.1244 | 13.4568 | 13.6418 | 13.9742 | 14.1592 | 14.4916 | 14.6766 |
| Fibonacci | 13.4814 | 13.6790 | 13.8011 | 13.9988 | 14.1964 | 14.3185 | 14.5162 |
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): | 51.52 | |
| MACD (12,26,9): | -0.0059 | |
| Directional Movement: | -6.4932 | |
| AROON (14): | -35.7143 | |
| DEMA (21): | 14.0516 | |
| Parabolic SAR (0,02-0,02-0,2): | 14.0129 | |
| Elder Ray (13): | 0.0136 | |
| Super Trend (3,10): | 14.1103 | |
| Zig ZAG (10): | 14.0681 | |
| VORTEX (21): | 1.0151 | |
| Stochastique (14,3,5): | 78.26 | |
| TEMA (21): | 14.0507 | |
| Williams %R (14): | -16.60 | |
| Chande Momentum Oscillator (20): | 0.0149 | |
| Repulse (5,40,3): | 0.0866 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0093 | |
| Courbe Coppock: | 0.31 |
| MA7: | 14.0879 | |
| MA20: | 14.0520 | |
| MA50: | 13.9753 | |
| MA100: | 13.8580 | |
| MAexp7: | 14.0582 | |
| MAexp20: | 14.0603 | |
| MAexp50: | 14.0708 | |
| MAexp100: | 14.0740 | |
| Price / MA7: | -0.14% | |
| Price / MA20: | +0.12% | |
| Price / MA50: | +0.66% | |
| Price / MA100: | +1.52% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | +0.05% | |
| Price / MAexp50: | -0.02% | |
| Price / MAexp100: | -0.04% |
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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