EUR/ZAR - 1H - Technical analysis published on 04/29/2020 (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%
56%
28%
My opinion
Bearish under 20.1394 ZAR
My targets
19.9775 ZAR (-0.0698)
19.6523 ZAR (-0.3950)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on EUR/ZAR as long as the price remains well below 20.1394 ZAR. The sellers” bearish objective is set at 19.9775 ZAR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 19.6523 ZAR. In case of crossing, the next objective would be the support located at 18.3579 ZAR. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
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
7.3
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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
EUR/ZAR rating 20.0473 ZAR. On the day, this instrument lost -0.50% and was between 20.0332 ZAR and 20.1767 ZAR. This implies that the price is at +0.07% from its lowest and at -0.64% from its highest.20.0332
20.1767
20.0473
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 EUR/ZAR:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of EUR/ZAR indicates that the overall trend is strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish 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.
Technical indicators are bearish. There is still some doubt about the decline in the price.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Horizontal support is broken
Type : Bearish
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 | 17.9283 | 18.3579 | 19.6523 | 20.0473 | 20.3194 | 20.4311 | 20.5587 |
| Change (%) | -10.57% | -8.43% | -1.97% | - | +1.36% | +1.91% | +2.55% |
| Change | -2.1190 | -1.6894 | -0.3950 | - | +0.2721 | +0.3838 | +0.5114 |
| Level | Intermediate | Intermediate | Minor | - | Intermediate | Intermediate | Major |
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 | 19.6792 | 19.8859 | 20.0171 | 20.2238 | 20.3550 | 20.5617 | 20.6929 |
| Camarilla | 20.0554 | 20.0864 | 20.1173 | 20.1483 | 20.1793 | 20.2103 | 20.2412 |
| Woodie | 19.6415 | 19.8670 | 19.9794 | 20.2049 | 20.3173 | 20.5428 | 20.6552 |
| Fibonacci | 19.8859 | 20.0150 | 20.0947 | 20.2238 | 20.3529 | 20.4326 | 20.5617 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.9775 | 20.1394 | 20.3923 | 20.5542 | 20.8071 | 20.9690 | 21.2219 |
| Camarilla | 20.5312 | 20.5693 | 20.6073 | 20.6453 | 20.6833 | 20.7214 | 20.7594 |
| Woodie | 20.0231 | 20.1622 | 20.4379 | 20.5770 | 20.8527 | 20.9918 | 21.2675 |
| Fibonacci | 20.1394 | 20.2978 | 20.3957 | 20.5542 | 20.7126 | 20.8105 | 20.9690 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 14.5308 | 15.7414 | 17.7016 | 18.9122 | 20.8724 | 22.0830 | 24.0432 |
| Camarilla | 18.7899 | 19.0806 | 19.3712 | 19.6619 | 19.9526 | 20.2432 | 20.5339 |
| Woodie | 14.9057 | 15.9288 | 18.0765 | 19.0996 | 21.2473 | 22.2704 | 24.4181 |
| Fibonacci | 15.7414 | 16.9526 | 17.7009 | 18.9122 | 20.1234 | 20.8717 | 22.0830 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 31.78 | |
| MACD (12,26,9): | -0.0539 | |
| Directional Movement: | -17.6863 | |
| AROON (14): | -78.5714 | |
| DEMA (21): | 20.0958 | |
| Parabolic SAR (0,02-0,02-0,2): | 20.2191 | |
| Elder Ray (13): | -0.0643 | |
| Super Trend (3,10): | 20.2512 | |
| Zig ZAG (10): | 20.0466 | |
| VORTEX (21): | 0.8777 | |
| Stochastique (14,3,5): | 30.22 | |
| TEMA (21): | 20.1172 | |
| Williams %R (14): | -70.69 | |
| Chande Momentum Oscillator (20): | -0.0863 | |
| Repulse (5,40,3): | -0.1600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0391 | |
| Courbe Coppock: | 0.78 |
| MA7: | 20.4265 | |
| MA20: | 20.2070 | |
| MA50: | 18.9157 | |
| MA100: | 17.4734 | |
| MAexp7: | 20.1377 | |
| MAexp20: | 20.1746 | |
| MAexp50: | 20.2738 | |
| MAexp100: | 20.3572 | |
| Price / MA7: | -1.86% | |
| Price / MA20: | -0.79% | |
| Price / MA50: | +5.98% | |
| Price / MA100: | +14.73% | |
| Price / MAexp7: | -0.45% | |
| Price / MAexp20: | -0.63% | |
| Price / MAexp50: | -1.11% | |
| Price / MAexp100: | -1.52% |
News
The last news published on EUR/ZAR at the time of the generation of this analysis was as follows:
EUR/ZAR To Remain WeakThis member declared not having a position on this financial instrument or a related financial instrument.
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