EUR/ZAR - 1H - Technical analysis published on 06/19/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Court terme:
Bullish
De fond:
Strongly bullish
Technical indicators
17%
39%
44%
My opinion
Bullish above 19.4406 ZAR
My targets
19.6416 ZAR (+0.1115)
20.0636 ZAR (+0.5335)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on EUR/ZAR as long as the price remains well above 19.4406 ZAR. The buyers” bullish objective is set at 19.6416 ZAR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 20.0636 ZAR. If there is any crossing, the next objective would be the resistance located at 20.1100 ZAR. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
Technical indicators are opposing the general bullish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
3.6
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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
The EUR/ZAR price is 19.5301 ZAR. The price has increased by +0.02% since the last closing and was traded between 19.4668 ZAR and 19.5943 ZAR over the period. The price is currently at +0.33% from its lowest and -0.33% from its highest.19.4668
19.5943
19.5301
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
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:
Technical
Technical analysis of EUR/ZAR in 1H shows a strongly overall bullish trend. The signals given by moving averages are 82.14% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, only 7 technical indicators out of 18 studied are currently bearish. Other results related to technical indicators were also found by the Central Indicators scanner:
Aroon indicator bearish trend
Type : Bearish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 18.7819 | 19.1947 | 19.4406 | 19.5301 | 19.6416 | 20.1100 | 20.6552 |
Change (%) | -3.83% | -1.72% | -0.46% | - | +0.57% | +2.97% | +5.76% |
Change | -0.7482 | -0.3354 | -0.0895 | - | +0.1115 | +0.5799 | +1.1251 |
Level | Major | Intermediate | Major | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 18.9522 | 19.1130 | 19.3200 | 19.4808 | 19.6878 | 19.8486 | 20.0556 |
Camarilla | 19.4259 | 19.4596 | 19.4933 | 19.5270 | 19.5607 | 19.5944 | 19.6281 |
Woodie | 18.9753 | 19.1246 | 19.3431 | 19.4924 | 19.7109 | 19.8602 | 20.0787 |
Fibonacci | 19.1130 | 19.2535 | 19.3403 | 19.4808 | 19.6213 | 19.7081 | 19.8486 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 17.7256 | 18.1434 | 18.6857 | 19.1035 | 19.6458 | 20.0636 | 20.6059 |
Camarilla | 18.9639 | 19.0519 | 19.1399 | 19.2279 | 19.3159 | 19.4039 | 19.4919 |
Woodie | 17.7878 | 18.1745 | 18.7479 | 19.1346 | 19.7080 | 20.0947 | 20.6681 |
Fibonacci | 18.1434 | 18.5102 | 18.7368 | 19.1035 | 19.4703 | 19.6969 | 20.0636 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 16.9818 | 17.9991 | 18.7409 | 19.7582 | 20.5000 | 21.5173 | 22.2591 |
Camarilla | 18.9989 | 19.1601 | 19.3214 | 19.4826 | 19.6439 | 19.8051 | 19.9664 |
Woodie | 16.8440 | 17.9302 | 18.6031 | 19.6893 | 20.3622 | 21.4484 | 22.1213 |
Fibonacci | 17.9991 | 18.6711 | 19.0863 | 19.7582 | 20.4302 | 20.8454 | 21.5173 |
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): | 51.98 | |
MACD (12,26,9): | 0.0360 | |
Directional Movement: | -0.5518 | |
AROON (14): | -100.0000 | |
DEMA (21): | 19.5857 | |
Parabolic SAR (0,02-0,02-0,2): | 19.6255 | |
Elder Ray (13): | -0.0363 | |
Super Trend (3,10): | 19.4232 | |
Zig ZAG (10): | 19.5172 | |
VORTEX (21): | 1.1324 | |
Stochastique (14,3,5): | 35.17 | |
TEMA (21): | 19.5769 | |
Williams %R (14): | -75.91 | |
Chande Momentum Oscillator (20): | -0.0863 | |
Repulse (5,40,3): | -0.3499 | |
ROCnROLL: | -1 | |
TRIX (15,9): | 0.0342 | |
Courbe Coppock: | 0.19 |
MA7: | 19.3978 | |
MA20: | 19.2101 | |
MA50: | 19.7553 | |
MA100: | 18.8080 | |
MAexp7: | 19.5590 | |
MAexp20: | 19.5293 | |
MAexp50: | 19.4615 | |
MAexp100: | 19.3898 | |
Price / MA7: | +0.68% | |
Price / MA20: | +1.67% | |
Price / MA50: | -1.14% | |
Price / MA100: | +3.84% | |
Price / MAexp7: | -0.15% | |
Price / MAexp20: | +0.00% | |
Price / MAexp50: | +0.35% | |
Price / MAexp100: | +0.72% |
Quotes :
2020-06-19 07:00:54
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Real time data
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Forex
News
The last news published on EUR/ZAR at the time of the generation of this analysis was as follows:
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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