EUR/ZAR - 1H - Technical analysis published on 11/05/2020 (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:
Neutral
De fond:
Bearish
Technical indicators
61%
0%
39%
My opinion
Bearish under 18.8505 ZAR
My targets
18.5397 ZAR (-0.1660)
18.3579 ZAR (-0.3478)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on EUR/ZAR. As long as you are under the resistance located at 18.8505 ZAR, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 18.5397 ZAR would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 18.3579 ZAR as an objective. Crossing it would then enable sellers to target 16.9583 ZAR. If the resistance 18.8505 ZAR were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
1.3
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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 18.7057 ZAR. The price registered an increase of +0.48% on the session with the lowest point at 18.5790 ZAR and the highest point at 18.8012 ZAR. The deviation from the price is +0.68% for the low point and -0.51% for the high point.18.5790
18.8012
18.7057
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:
Technical
Technical analysis of this 1H chart of EUR/ZAR indicates that the overall trend is bearish. 75.00% 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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The technical indicators are bullish. There is still some doubt about the price increase.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
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
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 16.9583 | 18.3579 | 18.5383 | 18.7057 | 18.7242 | 18.8505 | 19.1478 |
| Change (%) | -9.34% | -1.86% | -0.89% | - | +0.10% | +0.77% | +2.36% |
| Change | -1.7474 | -0.3478 | -0.1674 | - | +0.0185 | +0.1448 | +0.4421 |
| Level | Major | Major | Intermediate | - | Intermediate | Minor | Intermediate |
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 | 17.8188 | 18.1785 | 18.3979 | 18.7576 | 18.9770 | 19.3367 | 19.5561 |
| Camarilla | 18.4580 | 18.5110 | 18.5641 | 18.6172 | 18.6703 | 18.7234 | 18.7765 |
| Woodie | 17.7486 | 18.1434 | 18.3277 | 18.7225 | 18.9068 | 19.3016 | 19.4859 |
| Fibonacci | 18.1785 | 18.3998 | 18.5364 | 18.7576 | 18.9789 | 19.1155 | 19.3367 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.2277 | 18.5397 | 18.7109 | 19.0229 | 19.1941 | 19.5061 | 19.6773 |
| Camarilla | 18.7491 | 18.7934 | 18.8377 | 18.8820 | 18.9263 | 18.9706 | 19.0149 |
| Woodie | 18.1572 | 18.5045 | 18.6404 | 18.9877 | 19.1236 | 19.4709 | 19.6068 |
| Fibonacci | 18.5397 | 18.7243 | 18.8384 | 19.0229 | 19.2075 | 19.3216 | 19.5061 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 17.7487 | 18.3003 | 18.5911 | 19.1427 | 19.4335 | 19.9851 | 20.2759 |
| Camarilla | 18.6503 | 18.7276 | 18.8048 | 18.8820 | 18.9592 | 19.0364 | 19.1137 |
| Woodie | 17.6184 | 18.2351 | 18.4608 | 19.0775 | 19.3032 | 19.9199 | 20.1456 |
| Fibonacci | 18.3003 | 18.6221 | 18.8209 | 19.1427 | 19.4645 | 19.6633 | 19.9851 |
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): | 48.18 | |
| MACD (12,26,9): | -0.0118 | |
| Directional Movement: | 5.4548 | |
| AROON (14): | 92.8571 | |
| DEMA (21): | 18.6739 | |
| Parabolic SAR (0,02-0,02-0,2): | 18.6423 | |
| Elder Ray (13): | 0.0002 | |
| Super Trend (3,10): | 18.8348 | |
| Zig ZAG (10): | 18.7223 | |
| VORTEX (21): | 1.0841 | |
| Stochastique (14,3,5): | 64.46 | |
| TEMA (21): | 18.6984 | |
| Williams %R (14): | -44.53 | |
| Chande Momentum Oscillator (20): | 0.0841 | |
| Repulse (5,40,3): | 0.2075 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0228 | |
| Courbe Coppock: | 1.03 |
| MA7: | 18.8984 | |
| MA20: | 19.1863 | |
| MA50: | 19.4914 | |
| MA100: | 19.6089 | |
| MAexp7: | 18.7053 | |
| MAexp20: | 18.6911 | |
| MAexp50: | 18.7448 | |
| MAexp100: | 18.8307 | |
| Price / MA7: | -1.02% | |
| Price / MA20: | -2.50% | |
| Price / MA50: | -4.03% | |
| Price / MA100: | -4.61% | |
| Price / MAexp7: | +0.00% | |
| Price / MAexp20: | +0.08% | |
| Price / MAexp50: | -0.21% | |
| Price / MAexp100: | -0.66% |
Quotes :
2020-11-05 15:40:37
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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:
EUR/ZAR To Remain WeakThis member declared not having a position on this financial instrument or a related financial instrument.
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