NZD/ZAR - Daily - Technical analysis published on 08/04/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
94%
0%
6%
My opinion
Bullish above 11.2362 ZAR
My targets
11.7025 ZAR (+0.2095)
12.0313 ZAR (+0.5383)
My analysis
The bullish trend is currently very strong on NZD/ZAR. As long as the price remains above the support at 11.2362 ZAR, you could try to benefit from the boom. The first bullish objective is located at 11.7025 ZAR. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 12.0313 ZAR as an objective. 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
9.1
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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 NZD/ZAR rating is 11.4930 ZAR. The price registered an increase of +1.03% on the session and was between 11.3315 ZAR and 11.5577 ZAR. This implies that the price is at +1.43% from its lowest and at -0.56% from its highest.11.3315
11.5577
11.4930
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.
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 (5 years)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of NZD/ZAR in Daily shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals 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, according to the parameters integrated into the Central Analyzer system, 17 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
Resistance of triangle is broken
Type : Bullish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Three white soldiers
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 11.0444 | 11.2362 | 11.4765 | 11.4930 |
| Change (%) | -3.90% | -2.23% | -0.14% | - |
| Change | -0.4486 | -0.2568 | -0.0165 | - |
| Level | Major | Intermediate | Major | - |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.0889 | 11.1854 | 11.2809 | 11.3774 | 11.4729 | 11.5694 | 11.6649 |
| Camarilla | 11.3235 | 11.3411 | 11.3587 | 11.3763 | 11.3939 | 11.4115 | 11.4291 |
| Woodie | 11.0883 | 11.1852 | 11.2803 | 11.3772 | 11.4723 | 11.5692 | 11.6643 |
| Fibonacci | 11.1854 | 11.2588 | 11.3041 | 11.3774 | 11.4508 | 11.4961 | 11.5694 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.5907 | 10.7581 | 11.0389 | 11.2063 | 11.4871 | 11.6545 | 11.9353 |
| Camarilla | 11.1963 | 11.2374 | 11.2785 | 11.3196 | 11.3607 | 11.4018 | 11.4429 |
| Woodie | 10.6473 | 10.7865 | 11.0955 | 11.2347 | 11.5437 | 11.6829 | 11.9919 |
| Fibonacci | 10.7581 | 10.9294 | 11.0351 | 11.2063 | 11.3776 | 11.4833 | 11.6545 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.4707 | 10.6621 | 10.9909 | 11.1823 | 11.5111 | 11.7025 | 12.0313 |
| Camarilla | 11.1765 | 11.2242 | 11.2719 | 11.3196 | 11.3673 | 11.4150 | 11.4627 |
| Woodie | 10.5393 | 10.6965 | 11.0595 | 11.2167 | 11.5797 | 11.7369 | 12.0999 |
| Fibonacci | 10.6621 | 10.8609 | 10.9836 | 11.1823 | 11.3811 | 11.5038 | 11.7025 |
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): | 72.03 | |
| MACD (12,26,9): | 0.0729 | |
| Directional Movement: | 20.9732 | |
| AROON (14): | 100.0000 | |
| DEMA (21): | 11.1987 | |
| Parabolic SAR (0,02-0,02-0,2): | 11.0331 | |
| Elder Ray (13): | 0.2743 | |
| Super Trend (3,10): | 10.9874 | |
| Zig ZAG (10): | 11.5008 | |
| VORTEX (21): | 1.0897 | |
| Stochastique (14,3,5): | 88.50 | |
| TEMA (21): | 11.2637 | |
| Williams %R (14): | -9.10 | |
| Chande Momentum Oscillator (20): | 0.5533 | |
| Repulse (5,40,3): | 2.6872 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0168 | |
| Courbe Coppock: | 4.23 |
| MA7: | 11.1951 | |
| MA20: | 11.0624 | |
| MA50: | 11.0413 | |
| MA100: | 10.9948 | |
| MAexp7: | 11.2581 | |
| MAexp20: | 11.1262 | |
| MAexp50: | 11.0483 | |
| MAexp100: | 10.8554 | |
| Price / MA7: | +2.66% | |
| Price / MA20: | +3.89% | |
| Price / MA50: | +4.09% | |
| Price / MA100: | +4.53% | |
| Price / MAexp7: | +2.09% | |
| Price / MAexp20: | +3.30% | |
| Price / MAexp50: | +4.03% | |
| Price / MAexp100: | +5.87% |
Quotes :
2020-08-04 16:09:46
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Real time data
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Forex
This member declared not having a position on this financial instrument or a related financial instrument.
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