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

EUR/ZAR - 1H - Technical analysis published on 03/20/2020 (GMT)

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  • Timeframe : 1H
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Summary of the analysis

Trends
Court terme: Bearish
De fond: Bullish
Technical indicators
44%
17%
39%
My opinion
Bullish above 18.5098 ZAR
My targets
18.6275 ZAR (+0.0435)
18.7939 ZAR (+0.2099)
My analysis
The basic trend is bullish on EUR/ZAR and in the short term, the price is attempting to correct. For the time being, this is only a simple technical correction and the basic trend is not threatened. For the correction to be confirmed, it would have to at least return to below the support 18.5098 ZAR. Sellers would then use the next support located at 18.3579 ZAR as an objective. Crossing it would then enable sellers to target 18.0988 ZAR. If there is a return to above the resistance located at 18.6275 ZAR, this would be a sign of a reversal in the basic bullish trend. The next bullish objectives will be 18.7939 ZAR and 18.9364 ZAR by extension.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
FORCE
0
10
1.6

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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 price is 18.5840 ZAR. The price registered an increase of +0.27% on the session and was traded between 18.4888 ZAR and 18.7797 ZAR over the period. The price is currently at +0.51% from its lowest and -1.04% from its highest.

18.4888
18.7797
18.5840

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.

Central Gaps

Bearish opening

Type : Bearish

Timeframe : Openning



So that you have an overall view of the price change, here is a table showing the variations over several periods:
The study of the highest / lowest by the Central Records scanner shows the following results:

Central Records

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly


Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly


Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly



Technical


Technical analysis of this 1H chart of EUR/ZAR indicates that the overall trend is bullish. 64.29% of the signals given by moving averages are bullish. Caution: the current slightly bearish signals from short-term moving averages indicate that the overall trend may be slowing down. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

Technical indicators are slightly bullish. There is therefore considerable uncertainty about the continuation of the increase.
Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

The Central Indicators scanner found this result concerning these indicators:

Central Indicators

Momentum indicator is back over 0

Type : Bullish

Timeframe : 1 hour



The analysis of the price chart with Central Patterns scanners does not return any result.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 18.0988 18.3579 18.5098 18.5840 18.6275 18.7939 18.9364
Change (%) -2.61% -1.22% -0.40% - +0.23% +1.13% +1.90%
Change -0.4852 -0.2261 -0.0742 - +0.0435 +0.2099 +0.3524
Level Intermediate Major Minor - Major Intermediate Minor



Attention could also be paid to pivot points to set price objectives:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard17.627918.048018.290918.711018.953919.374019.6169
Camarilla18.351418.412218.472918.533718.594518.655318.7160
Woodie17.539218.003718.202218.666718.865219.329719.5282
Fibonacci18.048018.301318.457818.711018.964319.120819.3740


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard15.823416.833417.427118.437119.030820.040820.6345
Camarilla17.579817.726817.873818.020818.167818.314818.4618
Woodie15.615316.729317.219018.333018.822719.936720.4264
Fibonacci16.833417.446017.824518.437119.049719.428220.0408


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard15.078015.579416.413116.914517.748218.249619.0833
Camarilla16.879717.002017.124417.246817.369217.491617.6140
Woodie15.244215.662516.579316.997617.914418.332719.2495
Fibonacci15.579416.089416.404516.914517.424517.739618.2496

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): 50.21
MACD (12,26,9): -0.0169
Directional Movement: -5.7588
AROON (14): 57.1429
DEMA (21): 18.6175
Parabolic SAR (0,02-0,02-0,2): 18.7797
Elder Ray (13): -0.0582
Super Trend (3,10): 18.9953
Zig ZAG (10): 18.6543
VORTEX (21): 0.9548
Stochastique (14,3,5): 49.96
TEMA (21): 18.5910
Williams %R (14): -34.41
Chande Momentum Oscillator (20): -0.0046
Repulse (5,40,3): 0.6140
ROCnROLL: 1
TRIX (15,9): -0.0209
Courbe Coppock: 0.05
MA7: 18.4632
MA20: 17.7191
MA50: 16.7944
MA100: 16.4492
MAexp7: 18.6324
MAexp20: 18.6387
MAexp50: 18.6258
MAexp100: 18.5462
Price / MA7: +0.65%
Price / MA20: +4.88%
Price / MA50: +10.66%
Price / MA100: +12.98%
Price / MAexp7: -0.27%
Price / MAexp20: -0.30%
Price / MAexp50: -0.23%
Price / MAexp100: +0.19%

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.

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