CAD/ZAR - 1H - Technical analysis published on 10/09/2024 (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:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
61%
0%
39%
My opinion
Bullish above 12.8344 ZAR
My targets
12.8973 ZAR (+0.0156)
12.9451 ZAR (+0.0634)
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 12.8344 ZAR. The next resistance located at 12.8973 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 12.9451 ZAR. After this resistance, buyers could then target 12.9748 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 confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
7.7
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Additional analysis
Quotes
The CAD/ZAR price is 12.8817 ZAR. The price has increased by +0.00% since the last closing with the lowest point at 12.8485 ZAR and the highest point at 12.8877 ZAR. The deviation from the price is +0.26% for the low point and -0.05% for the high point.12.8485
12.8877
12.8817
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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. 89.29% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish trend reversal : Moving Average 50
Type : Bullish
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. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
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 | 12.7337 | 12.7837 | 12.8344 | 12.8817 | 12.8973 | 12.9451 | 12.9748 |
| Change (%) | -1.15% | -0.76% | -0.37% | - | +0.12% | +0.49% | +0.72% |
| Change | -0.1480 | -0.0980 | -0.0473 | - | +0.0156 | +0.0634 | +0.0931 |
| Level | Major | Major | Minor | - | Minor | Intermediate | 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 | 12.6377 | 12.6924 | 12.7871 | 12.8418 | 12.9365 | 12.9912 | 13.0859 |
| Camarilla | 12.8408 | 12.8545 | 12.8682 | 12.8819 | 12.8956 | 12.9093 | 12.9230 |
| Woodie | 12.6578 | 12.7024 | 12.8072 | 12.8518 | 12.9566 | 13.0012 | 13.1060 |
| Fibonacci | 12.6924 | 12.7494 | 12.7847 | 12.8418 | 12.8988 | 12.9341 | 12.9912 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.3148 | 12.4627 | 12.6791 | 12.8270 | 13.0434 | 13.1913 | 13.4077 |
| Camarilla | 12.7954 | 12.8288 | 12.8622 | 12.8956 | 12.9290 | 12.9624 | 12.9958 |
| Woodie | 12.3492 | 12.4798 | 12.7135 | 12.8441 | 13.0778 | 13.2084 | 13.4421 |
| Fibonacci | 12.4627 | 12.6018 | 12.6878 | 12.8270 | 12.9661 | 13.0521 | 13.1913 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.7932 | 12.2018 | 12.4922 | 12.9008 | 13.1912 | 13.5998 | 13.8902 |
| Camarilla | 12.5903 | 12.6544 | 12.7184 | 12.7825 | 12.8466 | 12.9107 | 12.9747 |
| Woodie | 11.7340 | 12.1723 | 12.4330 | 12.8713 | 13.1320 | 13.5703 | 13.8310 |
| Fibonacci | 12.2018 | 12.4689 | 12.6338 | 12.9008 | 13.1679 | 13.3328 | 13.5998 |
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): | 60.72 | |
| MACD (12,26,9): | 0.0181 | |
| Directional Movement: | 4.9987 | |
| AROON (14): | 35.7143 | |
| DEMA (21): | 12.8818 | |
| Parabolic SAR (0,02-0,02-0,2): | 12.8478 | |
| Elder Ray (13): | 0.0110 | |
| Super Trend (3,10): | 12.8121 | |
| Zig ZAG (10): | 12.8850 | |
| VORTEX (21): | 1.1986 | |
| Stochastique (14,3,5): | 74.10 | |
| TEMA (21): | 12.8950 | |
| Williams %R (14): | -16.87 | |
| Chande Momentum Oscillator (20): | 0.0308 | |
| Repulse (5,40,3): | 0.1195 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0218 | |
| Courbe Coppock: | 0.82 |
| MA7: | 12.8679 | |
| MA20: | 12.8743 | |
| MA50: | 13.0715 | |
| MA100: | 13.2285 | |
| MAexp7: | 12.8760 | |
| MAexp20: | 12.8586 | |
| MAexp50: | 12.8431 | |
| MAexp100: | 12.8422 | |
| Price / MA7: | +0.11% | |
| Price / MA20: | +0.06% | |
| Price / MA50: | -1.45% | |
| Price / MA100: | -2.62% | |
| Price / MAexp7: | +0.04% | |
| Price / MAexp20: | +0.18% | |
| Price / MAexp50: | +0.30% | |
| Price / MAexp100: | +0.31% |
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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