USD/ZAR - Daily - Technical analysis published on 07/31/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
56%
22%
My opinion
Bearish under 17.6954 ZAR
My targets
17.1659 ZAR (-0.4518)
16.8314 ZAR (-0.7863)
My analysis
The bearish trend is currently very strong for USD/ZAR. As long as the price remains below the resistance at 17.6954 ZAR, you could try to take advantage of the bearish rally. The first bearish objective is located at 17.1659 ZAR. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 16.8314 ZAR as an objective. Crossing it would then enable sellers to target 16.2679 ZAR. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
6.8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/ZAR price is 17.6177 ZAR. On the day, this instrument gained +0.00% and was between 17.5849 ZAR and 17.6722 ZAR. This implies that the price is at +0.19% from its lowest and at -0.31% from its highest.17.5849
17.6722
17.6177
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of USD/ZAR in Daily shows a overall strongly bearish trend. The signals given by moving averages are 89.29% 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.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
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:
Near support of channel
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 14.4901 | 16.2679 | 16.8314 | 17.6177 | 17.6954 | 18.1792 | 18.6372 |
| Change (%) | -17.75% | -7.66% | -4.46% | - | +0.44% | +3.19% | +5.79% |
| Change | -3.1276 | -1.3498 | -0.7863 | - | +0.0777 | +0.5615 | +1.0195 |
| Level | Minor | Intermediate | Major | - | Major | Intermediate | Intermediate |
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 | 17.0501 | 17.3097 | 17.4639 | 17.7235 | 17.8777 | 18.1373 | 18.2915 |
| Camarilla | 17.5042 | 17.5421 | 17.5801 | 17.6180 | 17.6559 | 17.6939 | 17.7318 |
| Woodie | 16.9973 | 17.2834 | 17.4111 | 17.6972 | 17.8249 | 18.1110 | 18.2387 |
| Fibonacci | 17.3097 | 17.4678 | 17.5655 | 17.7235 | 17.8816 | 17.9793 | 18.1373 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 16.7113 | 17.0647 | 17.3414 | 17.6948 | 17.9715 | 18.3249 | 18.6016 |
| Camarilla | 17.4447 | 17.5025 | 17.5602 | 17.6180 | 17.6758 | 17.7335 | 17.7913 |
| Woodie | 16.6729 | 17.0455 | 17.3030 | 17.6756 | 17.9331 | 18.3057 | 18.5632 |
| Fibonacci | 17.0647 | 17.3054 | 17.4541 | 17.6948 | 17.9355 | 18.0842 | 18.3249 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 16.2080 | 17.1659 | 18.0045 | 18.9624 | 19.8010 | 20.7589 | 21.5975 |
| Camarilla | 18.3492 | 18.5138 | 18.6785 | 18.8432 | 19.0079 | 19.1726 | 19.3372 |
| Woodie | 16.1485 | 17.1361 | 17.9450 | 18.9326 | 19.7415 | 20.7291 | 21.5380 |
| Fibonacci | 17.1659 | 17.8521 | 18.2761 | 18.9624 | 19.6486 | 20.0726 | 20.7589 |
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): | 35.53 | |
| MACD (12,26,9): | -0.2764 | |
| Directional Movement: | -8.1890 | |
| AROON (14): | -85.7143 | |
| DEMA (21): | 17.6704 | |
| Parabolic SAR (0,02-0,02-0,2): | 17.9832 | |
| Elder Ray (13): | -0.2398 | |
| Super Trend (3,10): | 18.3816 | |
| Zig ZAG (10): | 17.6168 | |
| VORTEX (21): | 0.7966 | |
| Stochastique (14,3,5): | 19.51 | |
| TEMA (21): | 17.5327 | |
| Williams %R (14): | -82.09 | |
| Chande Momentum Oscillator (20): | -0.3379 | |
| Repulse (5,40,3): | -1.0859 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1927 | |
| Courbe Coppock: | 9.49 |
| MA7: | 17.7065 | |
| MA20: | 18.1268 | |
| MA50: | 18.6013 | |
| MA100: | 18.5061 | |
| MAexp7: | 17.7229 | |
| MAexp20: | 18.0188 | |
| MAexp50: | 18.3365 | |
| MAexp100: | 18.3545 | |
| Price / MA7: | -0.50% | |
| Price / MA20: | -2.81% | |
| Price / MA50: | -5.29% | |
| Price / MA100: | -4.80% | |
| Price / MAexp7: | -0.59% | |
| Price / MAexp20: | -2.23% | |
| Price / MAexp50: | -3.92% | |
| Price / MAexp100: | -4.01% |
Quotes :
-
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 12, 2023
-
USD/ZAR Forecast March 27, 2023
-
USD/ZAR Forecast February 22, 2023
-
USD/ZAR Forecast November 11, 2022
-
USD/ZAR Forecast November 7, 2022
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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