CAD/ZAR - 1H - Technical analysis published on 12/23/2019 (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
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
17%
72%
11%
My opinion
Bearish under 10.8260 ZAR
My targets
10.7861 ZAR (-0.0253)
10.7209 ZAR (-0.0905)
My analysis
CAD/ZAR is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 10.8260 ZAR. The next support located at 10.7861 ZAR is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 10.7209 ZAR. Below this support, sellers could then target 10.5637 ZAR. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
FORCE
0
10
7.9
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
CAD/ZAR rating 10.8114 ZAR. The price is lower by -0.37% since the last closing and was traded between 10.8000 ZAR and 10.8639 ZAR over the period. The price is currently at +0.11% from its lowest and -0.48% from its highest.10.8000
10.8639
10.8114
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by CAD/ZAR:
Technical
Technical analysis of CAD/ZAR in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators shows a strong bearish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
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 | 10.4422 | 10.5637 | 10.7861 | 10.8114 | 10.8260 | 10.8996 | 10.9833 |
Change (%) | -3.41% | -2.29% | -0.23% | - | +0.14% | +0.82% | +1.59% |
Change | -0.3692 | -0.2477 | -0.0253 | - | +0.0146 | +0.0882 | +0.1719 |
Level | Minor | Major | Major | - | Intermediate | Major | Minor |
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 | 10.6761 | 10.7169 | 10.7840 | 10.8248 | 10.8919 | 10.9327 | 10.9998 |
Camarilla | 10.8214 | 10.8313 | 10.8412 | 10.8511 | 10.8610 | 10.8709 | 10.8808 |
Woodie | 10.6893 | 10.7235 | 10.7972 | 10.8314 | 10.9051 | 10.9393 | 11.0130 |
Fibonacci | 10.7169 | 10.7581 | 10.7836 | 10.8248 | 10.8660 | 10.8915 | 10.9327 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 10.4237 | 10.5907 | 10.7209 | 10.8879 | 11.0181 | 11.1851 | 11.3153 |
Camarilla | 10.7694 | 10.7966 | 10.8239 | 10.8511 | 10.8783 | 10.9056 | 10.9328 |
Woodie | 10.4053 | 10.5815 | 10.7025 | 10.8787 | 10.9997 | 11.1759 | 11.2969 |
Fibonacci | 10.5907 | 10.7042 | 10.7744 | 10.8879 | 11.0014 | 11.0716 | 11.1851 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 10.3395 | 10.6671 | 10.8503 | 11.1779 | 11.3611 | 11.6887 | 11.8719 |
Camarilla | 10.8930 | 10.9399 | 10.9867 | 11.0335 | 11.0803 | 11.1272 | 11.1740 |
Woodie | 10.2673 | 10.6310 | 10.7781 | 11.1418 | 11.2889 | 11.6526 | 11.7997 |
Fibonacci | 10.6671 | 10.8622 | 10.9828 | 11.1779 | 11.3730 | 11.4936 | 11.6887 |
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): | 37.70 | |
MACD (12,26,9): | -0.0072 | |
Directional Movement: | -13.3783 | |
AROON (14): | -100.0000 | |
DEMA (21): | 10.8238 | |
Parabolic SAR (0,02-0,02-0,2): | 10.8552 | |
Elder Ray (13): | -0.0218 | |
Super Trend (3,10): | 10.7995 | |
Zig ZAG (10): | 10.8045 | |
VORTEX (21): | 1.0270 | |
Stochastique (14,3,5): | 17.29 | |
TEMA (21): | 10.8228 | |
Williams %R (14): | -94.07 | |
Chande Momentum Oscillator (20): | -0.0481 | |
Repulse (5,40,3): | -0.2698 | |
ROCnROLL: | 2 | |
TRIX (15,9): | -0.0034 | |
Courbe Coppock: | 0.44 |
MA7: | 10.8993 | |
MA20: | 11.0095 | |
MA50: | 11.1379 | |
MA100: | 11.2435 | |
MAexp7: | 10.8210 | |
MAexp20: | 10.8314 | |
MAexp50: | 10.8472 | |
MAexp100: | 10.8800 | |
Price / MA7: | -0.81% | |
Price / MA20: | -1.80% | |
Price / MA50: | -2.93% | |
Price / MA100: | -3.84% | |
Price / MAexp7: | -0.09% | |
Price / MAexp20: | -0.19% | |
Price / MAexp50: | -0.33% | |
Price / MAexp100: | -0.63% |
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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