CAD/ZAR - 1H - Technical analysis published on 08/05/2024 (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
44%
22%
33%
My opinion
Bullish above 13.3619 ZAR
My targets
13.4992 ZAR (+0.0921)
13.5750 ZAR (+0.1679)
My analysis
CAD/ZAR is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 13.3619 ZAR. The next resistance located at 13.4992 ZAR is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 13.5750 ZAR. After this resistance, buyers could then target 13.8766 ZAR. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
6.8
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Additional analysis
Quotes
The CAD/ZAR rating is 13.4071 ZAR. The price has increased by +1.73% since the last closing with the lowest point at 13.1550 ZAR and the highest point at 13.4744 ZAR. The deviation from the price is +1.92% for the low point and -0.50% for the high point.13.1550
13.4744
13.4071
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of CAD/ZAR in 1H shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Resistance of channel is broken
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 | 13.2596 | 13.2931 | 13.3619 | 13.4071 | 13.5750 | 13.8766 | 14.2888 |
| Change (%) | -1.10% | -0.85% | -0.34% | - | +1.25% | +3.50% | +6.58% |
| Change | -0.1475 | -0.1140 | -0.0452 | - | +0.1679 | +0.4695 | +0.8817 |
| Level | Minor | Major | Intermediate | - | Major | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.9272 | 12.9959 | 13.0874 | 13.1561 | 13.2476 | 13.3163 | 13.4078 |
| Camarilla | 13.1350 | 13.1496 | 13.1643 | 13.1790 | 13.1937 | 13.2084 | 13.2231 |
| Woodie | 12.9387 | 13.0016 | 13.0989 | 13.1618 | 13.2591 | 13.3220 | 13.4193 |
| Fibonacci | 12.9959 | 13.0571 | 13.0949 | 13.1561 | 13.2173 | 13.2551 | 13.3163 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.7443 | 12.9044 | 13.0417 | 13.2018 | 13.3391 | 13.4992 | 13.6365 |
| Camarilla | 13.0972 | 13.1245 | 13.1517 | 13.1790 | 13.2063 | 13.2335 | 13.2608 |
| Woodie | 12.7329 | 12.8987 | 13.0303 | 13.1961 | 13.3277 | 13.4935 | 13.6251 |
| Fibonacci | 12.9044 | 13.0180 | 13.0882 | 13.2018 | 13.3154 | 13.3856 | 13.4992 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.4738 | 12.7983 | 12.9939 | 13.3184 | 13.5140 | 13.8385 | 14.0341 |
| Camarilla | 13.0466 | 13.0943 | 13.1419 | 13.1896 | 13.2373 | 13.2850 | 13.3326 |
| Woodie | 12.4095 | 12.7661 | 12.9296 | 13.2862 | 13.4497 | 13.8063 | 13.9698 |
| Fibonacci | 12.7983 | 12.9969 | 13.1197 | 13.3184 | 13.5170 | 13.6398 | 13.8385 |
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): | 64.23 | |
| MACD (12,26,9): | 0.0479 | |
| Directional Movement: | 14.1701 | |
| AROON (14): | 35.7143 | |
| DEMA (21): | 13.4322 | |
| Parabolic SAR (0,02-0,02-0,2): | 13.4594 | |
| Elder Ray (13): | 0.0143 | |
| Super Trend (3,10): | 13.3009 | |
| Zig ZAG (10): | 13.4071 | |
| VORTEX (21): | 1.1893 | |
| Stochastique (14,3,5): | 56.07 | |
| TEMA (21): | 13.4418 | |
| Williams %R (14): | -43.70 | |
| Chande Momentum Oscillator (20): | -0.0286 | |
| Repulse (5,40,3): | 0.1149 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0626 | |
| Courbe Coppock: | 1.27 |
| MA7: | 13.2441 | |
| MA20: | 13.2660 | |
| MA50: | 13.3726 | |
| MA100: | 13.5328 | |
| MAexp7: | 13.4029 | |
| MAexp20: | 13.3654 | |
| MAexp50: | 13.2910 | |
| MAexp100: | 13.2561 | |
| Price / MA7: | +1.23% | |
| Price / MA20: | +1.06% | |
| Price / MA50: | +0.26% | |
| Price / MA100: | -0.93% | |
| Price / MAexp7: | +0.03% | |
| Price / MAexp20: | +0.31% | |
| Price / MAexp50: | +0.87% | |
| Price / MAexp100: | +1.14% |
Quotes :
-
Real time data
-
Forex
This member declared not having a position on this financial instrument or a related financial instrument.
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