CHF/ZAR - 1H - Technical analysis published on 04/26/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
61%
0%
39%
My opinion
Bearish under 20.9949 ZAR
My targets
20.7259 ZAR (-0.1206)
20.5911 ZAR (-0.2554)
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 20.9949 ZAR remains possible. It is advisable to trade CHF/ZAR with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 20.9949 ZAR. The next bearish objective for sellers is set at 20.7259 ZAR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 20.5911 ZAR. In case of crossing, the next objective would be the support located at 20.3256 ZAR. PS: if there is a bullish break in the resistance located at 20.9949 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.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
1.6
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CHF/ZAR rating is 20.8465 ZAR. The price registered a decrease of -0.05% on the session and was between 20.8009 ZAR and 20.9205 ZAR. This implies that the price is at +0.22% from its lowest and at -0.35% from its highest.20.8009
20.9205
20.8465
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 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 CHF/ZAR in 1H shows an overall bearish trend. 78.57% 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 does not detect any result on moving averages that would impact this trend.
In fact, 11 technical indicators on 18 studied are currently positioned bullish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near horizontal resistance
Type : Bearish
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 | 20.3256 | 20.5911 | 20.7259 | 20.8465 | 20.8559 | 21.0221 | 21.1394 |
| Change (%) | -2.50% | -1.23% | -0.58% | - | +0.05% | +0.84% | +1.41% |
| Change | -0.5209 | -0.2554 | -0.1206 | - | +0.0094 | +0.1756 | +0.2929 |
| Level | Major | Minor | Intermediate | - | Major | Major | Minor |
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 | 20.3907 | 20.5583 | 20.7071 | 20.8747 | 21.0235 | 21.1911 | 21.3399 |
| Camarilla | 20.7689 | 20.7979 | 20.8269 | 20.8559 | 20.8849 | 20.9139 | 20.9429 |
| Woodie | 20.3813 | 20.5536 | 20.6977 | 20.8700 | 21.0141 | 21.1864 | 21.3305 |
| Fibonacci | 20.5583 | 20.6792 | 20.7538 | 20.8747 | 20.9956 | 21.0702 | 21.1911 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.6109 | 20.0920 | 20.5138 | 20.9949 | 21.4167 | 21.8978 | 22.3196 |
| Camarilla | 20.6874 | 20.7702 | 20.8529 | 20.9357 | 21.0185 | 21.1012 | 21.1840 |
| Woodie | 19.5814 | 20.0772 | 20.4843 | 20.9801 | 21.3872 | 21.8830 | 22.2901 |
| Fibonacci | 20.0920 | 20.4369 | 20.6500 | 20.9949 | 21.3398 | 21.5529 | 21.8978 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.6777 | 20.2544 | 20.5806 | 21.1573 | 21.4835 | 22.0602 | 22.3864 |
| Camarilla | 20.6584 | 20.7412 | 20.8239 | 20.9067 | 20.9895 | 21.0722 | 21.1550 |
| Woodie | 19.5524 | 20.1918 | 20.4553 | 21.0947 | 21.3582 | 21.9976 | 22.2611 |
| Fibonacci | 20.2544 | 20.5993 | 20.8124 | 21.1573 | 21.5022 | 21.7153 | 22.0602 |
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): | 48.82 | |
| MACD (12,26,9): | -0.0170 | |
| Directional Movement: | 4.7130 | |
| AROON (14): | 7.1428 | |
| DEMA (21): | 20.8288 | |
| Parabolic SAR (0,02-0,02-0,2): | 20.8009 | |
| Elder Ray (13): | 0.0086 | |
| Super Trend (3,10): | 20.9472 | |
| Zig ZAG (10): | 20.8690 | |
| VORTEX (21): | 1.1166 | |
| Stochastique (14,3,5): | 51.74 | |
| TEMA (21): | 20.8395 | |
| Williams %R (14): | -43.06 | |
| Chande Momentum Oscillator (20): | 0.0215 | |
| Repulse (5,40,3): | 0.0509 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0181 | |
| Courbe Coppock: | 0.10 |
| MA7: | 20.9557 | |
| MA20: | 20.7921 | |
| MA50: | 21.1348 | |
| MA100: | 21.4286 | |
| MAexp7: | 20.8499 | |
| MAexp20: | 20.8558 | |
| MAexp50: | 20.8988 | |
| MAexp100: | 20.9285 | |
| Price / MA7: | -0.52% | |
| Price / MA20: | +0.26% | |
| Price / MA50: | -1.36% | |
| Price / MA100: | -2.72% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | -0.04% | |
| Price / MAexp50: | -0.25% | |
| Price / MAexp100: | -0.39% |
Quotes :
-
Real time data
-
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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