EUR/ZAR
EUR ZAR
- ZAR (-)
- Real time data - Forex
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Forex
Ticker: EURZAR
ISIN:

EUR/ZAR - 1H - Technical analysis published on 11/13/2019 (GMT)

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  • Timeframe : 1H
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  • Status : TARGET REACHED

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Summary of the analysis

Trends
Court terme: Strongly bullish
De fond: Strongly bullish
Technical indicators
61%
11%
28%
My opinion
Bullish above 16.3111 ZAR
My targets
16.4703 ZAR (+0.09%)
16.5966 ZAR (+0.86%)
My analysis
The bullish trend is currently very strong on EUR/ZAR. As long as the price remains above the support at 16.3111 ZAR, you could try to benefit from the boom. The first bullish objective is located at 16.4703 ZAR. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 16.5966 ZAR as an objective. Crossing it would then enable buyers to target 16.7928 ZAR. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
FORCE
0
10
7.7

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

The EUR/ZAR rating is 16.4548 ZAR. The price registered an increase of +0.01% on the session and was between 16.4192 ZAR and 16.5262 ZAR. This implies that the price is at +0.22% from its lowest and at -0.43% from its highest.

16.4192
16.5262
16.4548

The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



Here is a more detailed summary of the historical variations registered by EUR/ZAR:
The Central Records scanner, which identifies the highest / lowest, has detected an element:

Central Records

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 bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, 11 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:

Central Indicators

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour


Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : 1 hour


Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Central Indicators

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly


Williams %R indicator is back under -50

Type : Bearish

Timeframe : 1 hour



No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:

Central Candlesticks

Bearish harami

Type : Bearish

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 16.0814 16.1863 16.3111 16.4548 16.4703 16.5966 16.7928
Change (%) -2.27% -1.63% -0.87% - +0.09% +0.86% +2.05%
Change -0.3734 -0.2685 -0.1437 - +0.0155 +0.1418 +0.3380
Level Intermediate Minor Intermediate - Major Minor Minor



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
Standard16.198216.254216.353716.409716.509216.565216.6647
Camarilla16.410316.424616.438916.453116.467416.481616.4959
Woodie16.219916.265116.375416.420616.530916.576116.6864
Fibonacci16.254216.313616.350316.409716.469116.505816.5652


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard15.711115.948716.154216.391816.597316.834917.0404
Camarilla16.237916.278516.319116.359716.400316.440916.4816
Woodie15.695115.940716.138216.383816.581316.826917.0244
Fibonacci15.948716.118016.222516.391816.561116.665616.8349


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard15.453715.776916.314816.638017.175917.499118.0370
Camarilla16.615916.694816.773816.852716.931617.010617.0895
Woodie15.561115.830616.422216.691717.283317.552818.1444
Fibonacci15.776916.105816.309116.638016.966917.170217.4991

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): 53.99
MACD (12,26,9): 0.0159
Directional Movement: 7.6486
AROON (14): 78.5714
DEMA (21): 16.4710
Parabolic SAR (0,02-0,02-0,2): 16.4448
Elder Ray (13): 0.0038
Super Trend (3,10): 16.3963
Zig ZAG (10): 16.4555
VORTEX (21): 1.1121
Stochastique (14,3,5): 51.95
TEMA (21): 16.4767
Williams %R (14): -62.13
Chande Momentum Oscillator (20): 0.0097
Repulse (5,40,3): -0.0930
ROCnROLL: 1
TRIX (15,9): 0.0118
Courbe Coppock: 0.34
MA7: 16.3928
MA20: 16.4230
MA50: 16.4235
MA100: 16.3712
MAexp7: 16.4702
MAexp20: 16.4513
MAexp50: 16.4283
MAexp100: 16.4160
Price / MA7: +0.38%
Price / MA20: +0.19%
Price / MA50: +0.19%
Price / MA100: +0.51%
Price / MAexp7: -0.08%
Price / MAexp20: +0.03%
Price / MAexp50: +0.17%
Price / MAexp100: +0.25%

News


Don"t forget to follow the news on EUR/ZAR. At the time of publication of this analysis, the latest news was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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