NZD/ZAR - 1H - Technical analysis published on 04/13/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
50%
6%
44%
My opinion
Bullish above 10.9057 ZAR
My targets
11.0444 ZAR (+0.0581)
11.1861 ZAR (+0.1998)
My analysis
NZD/ZAR is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 10.9057 ZAR. The next resistance located at 11.0444 ZAR is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 11.1861 ZAR. After this resistance, buyers could then target 11.1936 ZAR. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
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
6.4
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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
NZD/ZAR rating 10.9863 ZAR. The price is lower by +0.59% since the last closing with the lowest point at 10.9267 ZAR and the highest point at 11.0259 ZAR. The deviation from the price is +0.55% for the low point and -0.36% for the high point.10.9267
11.0259
10.9863
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum 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:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this NZD/ZAR chart shows a strongly bullish trend. 82.14% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Moving Average bullish crossovers : MA50 & MA100
Type : Bullish
Timeframe : 1 hour
In fact, only 9 technical indicators out of 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Bullish harami
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 10.6905 | 10.8016 | 10.9057 | 10.9863 | 11.0444 | 11.1936 | 11.3713 |
| Change (%) | -2.69% | -1.68% | -0.73% | - | +0.53% | +1.89% | +3.50% |
| Change | -0.2958 | -0.1847 | -0.0806 | - | +0.0581 | +0.2073 | +0.3850 |
| Level | Minor | Intermediate | Major | - | 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 |
|---|---|---|---|---|---|---|---|
| Standard | 10.7682 | 10.8362 | 10.8792 | 10.9472 | 10.9902 | 11.0582 | 11.1012 |
| Camarilla | 10.8918 | 10.9020 | 10.9121 | 10.9223 | 10.9325 | 10.9427 | 10.9528 |
| Woodie | 10.7558 | 10.8300 | 10.8668 | 10.9410 | 10.9778 | 11.0520 | 11.0888 |
| Fibonacci | 10.8362 | 10.8786 | 10.9048 | 10.9472 | 10.9896 | 11.0158 | 11.0582 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.1225 | 10.4620 | 10.6922 | 11.0317 | 11.2619 | 11.6014 | 11.8316 |
| Camarilla | 10.7656 | 10.8179 | 10.8701 | 10.9223 | 10.9745 | 11.0267 | 11.0790 |
| Woodie | 10.0678 | 10.4347 | 10.6375 | 11.0044 | 11.2072 | 11.5741 | 11.7769 |
| Fibonacci | 10.4620 | 10.6797 | 10.8141 | 11.0317 | 11.2494 | 11.3838 | 11.6014 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.3299 | 8.9084 | 9.7580 | 10.3365 | 11.1861 | 11.7646 | 12.6142 |
| Camarilla | 10.2149 | 10.3458 | 10.4767 | 10.6076 | 10.7385 | 10.8694 | 11.0003 |
| Woodie | 8.4655 | 8.9762 | 9.8936 | 10.4043 | 11.3217 | 11.8324 | 12.7498 |
| Fibonacci | 8.9084 | 9.4539 | 9.7910 | 10.3365 | 10.8820 | 11.2191 | 11.7646 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 52.60 | |
| MACD (12,26,9): | 0.0104 | |
| Directional Movement: | 0.0174 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 10.9873 | |
| Parabolic SAR (0,02-0,02-0,2): | 10.9474 | |
| Elder Ray (13): | -0.0013 | |
| Super Trend (3,10): | 10.8941 | |
| Zig ZAG (10): | 10.9846 | |
| VORTEX (21): | 1.0248 | |
| Stochastique (14,3,5): | 64.50 | |
| TEMA (21): | 10.9909 | |
| Williams %R (14): | -35.22 | |
| Chande Momentum Oscillator (20): | 0.0609 | |
| Repulse (5,40,3): | -0.1392 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0133 | |
| Courbe Coppock: | 0.69 |
| MA7: | 10.9924 | |
| MA20: | 10.5389 | |
| MA50: | 10.0496 | |
| MA100: | 9.7784 | |
| MAexp7: | 10.9834 | |
| MAexp20: | 10.9729 | |
| MAexp50: | 10.9588 | |
| MAexp100: | 10.9550 | |
| Price / MA7: | -0.06% | |
| Price / MA20: | +4.25% | |
| Price / MA50: | +9.32% | |
| Price / MA100: | +12.35% | |
| Price / MAexp7: | +0.03% | |
| Price / MAexp20: | +0.12% | |
| Price / MAexp50: | +0.25% | |
| Price / MAexp100: | +0.28% |
This member declared not having a position on this financial instrument or a related financial instrument.
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