USD/ZAR - 1H - Technical analysis published on 07/02/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
39%
33%
28%
My opinion
Bearish under 17.0231 ZAR
My targets
16.9121 ZAR (-0.0600)
16.6972 ZAR (-0.2749)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on USD/ZAR as long as the price remains well below 17.0231 ZAR. The sellers” bearish objective is set at 16.9121 ZAR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 16.6972 ZAR. In case of crossing, the next objective would be the support located at 16.5232 ZAR. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
5.9
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This analysis was given by Remo. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/ZAR rating is 16.9721 ZAR. The price is lower by -0.49% since the last closing and was between 16.8725 ZAR and 17.0661 ZAR. This implies that the price is at +0.59% from its lowest and at -0.55% from its highest.16.8725
17.0661
16.9721
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of USD/ZAR in 1H shows a overall strongly bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 7 are bullish, 5 are neutral and 6 are bearish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
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
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
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:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 14.4986 | 15.4205 | 16.5232 | 16.9721 | 17.0231 | 17.1273 | 17.2476 |
| Change (%) | -14.57% | -9.14% | -2.64% | - | +0.30% | +0.91% | +1.62% |
| Change | -2.4735 | -1.5516 | -0.4489 | - | +0.0510 | +0.1552 | +0.2755 |
| Level | Major | Major | Intermediate | - | Intermediate | Intermediate | 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 | 16.5736 | 16.7984 | 16.9270 | 17.1518 | 17.2804 | 17.5052 | 17.6338 |
| Camarilla | 16.9585 | 16.9909 | 17.0233 | 17.0557 | 17.0881 | 17.1205 | 17.1529 |
| Woodie | 16.5256 | 16.7744 | 16.8790 | 17.1278 | 17.2324 | 17.4812 | 17.5858 |
| Fibonacci | 16.7984 | 16.9334 | 17.0168 | 17.1518 | 17.2868 | 17.3702 | 17.5052 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 16.6972 | 16.9121 | 17.1033 | 17.3182 | 17.5094 | 17.7243 | 17.9155 |
| Camarilla | 17.1828 | 17.2201 | 17.2573 | 17.2945 | 17.3317 | 17.3690 | 17.4062 |
| Woodie | 16.6854 | 16.9062 | 17.0915 | 17.3123 | 17.4976 | 17.7184 | 17.9037 |
| Fibonacci | 16.9121 | 17.0672 | 17.1631 | 17.3182 | 17.4733 | 17.5692 | 17.7243 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15.2837 | 15.8078 | 16.5759 | 17.1000 | 17.8681 | 18.3922 | 19.1603 |
| Camarilla | 16.9886 | 17.1070 | 17.2255 | 17.3439 | 17.4624 | 17.5808 | 17.6993 |
| Woodie | 15.4056 | 15.8688 | 16.6978 | 17.1610 | 17.9900 | 18.4532 | 19.2822 |
| Fibonacci | 15.8078 | 16.3015 | 16.6064 | 17.1000 | 17.5937 | 17.8986 | 18.3922 |
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): | 39.74 | |
| MACD (12,26,9): | -0.0667 | |
| Directional Movement: | -13.7533 | |
| AROON (14): | -64.2857 | |
| DEMA (21): | 16.9028 | |
| Parabolic SAR (0,02-0,02-0,2): | 16.8767 | |
| Elder Ray (13): | -0.0298 | |
| Super Trend (3,10): | 17.0342 | |
| Zig ZAG (10): | 16.9694 | |
| VORTEX (21): | 0.8180 | |
| Stochastique (14,3,5): | 31.47 | |
| TEMA (21): | 16.8938 | |
| Williams %R (14): | -50.83 | |
| Chande Momentum Oscillator (20): | -0.0703 | |
| Repulse (5,40,3): | 0.3077 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0607 | |
| Courbe Coppock: | 1.44 |
| MA7: | 17.2185 | |
| MA20: | 17.1048 | |
| MA50: | 17.6947 | |
| MA100: | 17.3331 | |
| MAexp7: | 16.9428 | |
| MAexp20: | 16.9950 | |
| MAexp50: | 17.1051 | |
| MAexp100: | 17.1809 | |
| Price / MA7: | -1.43% | |
| Price / MA20: | -0.78% | |
| Price / MA50: | -4.08% | |
| Price / MA100: | -2.08% | |
| Price / MAexp7: | +0.17% | |
| Price / MAexp20: | -0.14% | |
| Price / MAexp50: | -0.78% | |
| Price / MAexp100: | -1.22% |
Quotes :
2020-07-02 14:59:27
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Real time data
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Forex
News
The last news published on USD/ZAR at the time of the generation of this analysis was as follows:
-
USD/ZAR Forecast April 7, 2020
-
USD/ZAR Forecast March 31, 2020
-
USD/ZAR Forecast March 11, 2020
-
USD/ZAR Forecast March 3, 2020
-
USD/ZAR Forecast January 8, 2020
This member declared not having a position on this financial instrument or a related financial instrument.
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