CAD/ZAR - 1H - Technical analysis published on 02/03/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Neutral
Technical indicators
11%
72%
17%
My opinion
Bearish under 11.2653 ZAR
My targets
11.1471 ZAR (-0.0683)
11.1173 ZAR (-0.0981)
My analysis
The current short-term bearish trend is expected to quickly fix the basic bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for CAD/ZAR as long as the price remains well below 11.2653 ZAR. The sellers” bearish objective is set at 11.1471 ZAR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 11.1173 ZAR. If there is any crossing, the next objective would be the support located at 11.0315 ZAR.
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
3
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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 11.2154 ZAR. The price registered an increase of -1.14% on the session with the lowest point at 11.1932 ZAR and the highest point at 11.3490 ZAR. The deviation from the price is +0.20% for the low point and -1.18% for the high point.11.1932
11.3490
11.2154
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
A study of price movements over other periods shows the following variations:
Technical
A technical analysis in 1H of this CAD/ZAR chart shows a neutral trend. The trend could quickly turn bearish due to the strong bearish signals currently being given by short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Moving Average bearish crossovers : AMA20 & AMA50
Type : Bearish
Timeframe : 1 hour
The probability of a further decline is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
CCI indicator: bullish divergence
Type : Bullish
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 over the pivot point
Type : Bullish
Timeframe : Weekly
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 | 10.8996 | 11.0315 | 11.1173 | 11.2154 | 11.2653 | 11.3588 | 11.4721 |
| Change (%) | -2.82% | -1.64% | -0.87% | - | +0.44% | +1.28% | +2.29% |
| Change | -0.3158 | -0.1839 | -0.0981 | - | +0.0499 | +0.1434 | +0.2567 |
| Level | Major | Intermediate | Intermediate | - | Intermediate | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.0036 | 11.0792 | 11.2121 | 11.2877 | 11.4206 | 11.4962 | 11.6291 |
| Camarilla | 11.2876 | 11.3067 | 11.3258 | 11.3449 | 11.3640 | 11.3831 | 11.4022 |
| Woodie | 11.0322 | 11.0935 | 11.2407 | 11.3020 | 11.4492 | 11.5105 | 11.6577 |
| Fibonacci | 11.0792 | 11.1589 | 11.2081 | 11.2877 | 11.3674 | 11.4166 | 11.4962 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.6771 | 10.8180 | 11.0815 | 11.2224 | 11.4859 | 11.6268 | 11.8903 |
| Camarilla | 11.2337 | 11.2708 | 11.3078 | 11.3449 | 11.3820 | 11.4190 | 11.4561 |
| Woodie | 10.7383 | 10.8487 | 11.1427 | 11.2531 | 11.5471 | 11.6575 | 11.9515 |
| Fibonacci | 10.8180 | 10.9725 | 11.0680 | 11.2224 | 11.3769 | 11.4724 | 11.6268 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.3006 | 10.5168 | 10.9309 | 11.1471 | 11.5612 | 11.7774 | 12.1915 |
| Camarilla | 11.1716 | 11.2293 | 11.2871 | 11.3449 | 11.4027 | 11.4605 | 11.5182 |
| Woodie | 10.3995 | 10.5663 | 11.0298 | 11.1966 | 11.6601 | 11.8269 | 12.2904 |
| Fibonacci | 10.5168 | 10.7576 | 10.9064 | 11.1471 | 11.3879 | 11.5367 | 11.7774 |
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): | 36.36 | |
| MACD (12,26,9): | -0.0145 | |
| Directional Movement: | -12.4376 | |
| AROON (14): | -78.5714 | |
| DEMA (21): | 11.2502 | |
| Parabolic SAR (0,02-0,02-0,2): | 11.2825 | |
| Elder Ray (13): | -0.0412 | |
| Super Trend (3,10): | 11.3083 | |
| Zig ZAG (10): | 11.2082 | |
| VORTEX (21): | 0.7931 | |
| Stochastique (14,3,5): | 8.83 | |
| TEMA (21): | 11.2178 | |
| Williams %R (14): | -90.48 | |
| Chande Momentum Oscillator (20): | -0.1212 | |
| Repulse (5,40,3): | -0.2239 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0011 | |
| Courbe Coppock: | 1.41 |
| MA7: | 11.1232 | |
| MA20: | 11.0481 | |
| MA50: | 10.9877 | |
| MA100: | 11.1236 | |
| MAexp7: | 11.2319 | |
| MAexp20: | 11.2559 | |
| MAexp50: | 11.2411 | |
| MAexp100: | 11.1906 | |
| Price / MA7: | +0.83% | |
| Price / MA20: | +1.51% | |
| Price / MA50: | +2.07% | |
| Price / MA100: | +0.83% | |
| Price / MAexp7: | -0.15% | |
| Price / MAexp20: | -0.36% | |
| Price / MAexp50: | -0.23% | |
| Price / MAexp100: | +0.22% |
This member declared not having a position on this financial instrument or a related financial instrument.
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