USD/ZAR - Daily - Technical analysis published on 07/01/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Bearish
Technical indicators
6%
72%
22%
My opinion
Bearish under 14.4677 ZAR
My targets
14.1441 ZAR (-0.15%)
13.9101 ZAR (-1.80%)
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 14.4677 ZAR. The sellers” bearish objective is set at 14.1441 ZAR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 13.9101 ZAR. In case of crossing, the next objective would be the support located at 13.6611 ZAR.
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
USD/ZAR rating 14.1654 ZAR. The price has increased by +0.59% since the last closing and was between 14.0355 ZAR and 14.1734 ZAR. This implies that the price is at +0.93% from its lowest and at -0.06% from its highest.14.0355
14.1734
14.1654
A bearish gap was detected at the opening by the Central Gaps scanner. There are a lot of sellers and they have the upper hand in the very short term.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this Daily chart of USD/ZAR indicates that the overall trend is bearish. 64.29% of the signals given by moving averages are bearish. This bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
Technical indicators are strongly bearish, suggesting that the price decline is expected to continue.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
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 resistance is broken
Type : Bullish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Three black crows
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 13.6611 | 13.9101 | 14.1441 | 14.1654 | 14.4677 | 14.6251 | 15.0178 |
Change (%) | -3.56% | -1.80% | -0.15% | - | +2.13% | +3.25% | +6.02% |
Change | -0.5043 | -0.2553 | -0.0213 | - | +0.3023 | +0.4597 | +0.8524 |
Level | Minor | Intermediate | Intermediate | - | Major | Major | Minor |
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 | 13.9143 | 13.9934 | 14.0376 | 14.1167 | 14.1609 | 14.2400 | 14.2842 |
Camarilla | 14.0479 | 14.0592 | 14.0705 | 14.0818 | 14.0931 | 14.1044 | 14.1157 |
Woodie | 13.8968 | 13.9847 | 14.0202 | 14.1080 | 14.1434 | 14.2313 | 14.2668 |
Fibonacci | 13.9934 | 14.0405 | 14.0696 | 14.1167 | 14.1638 | 14.1929 | 14.2400 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 13.6386 | 13.8555 | 13.9687 | 14.1856 | 14.2988 | 14.5157 | 14.6289 |
Camarilla | 13.9910 | 14.0213 | 14.0515 | 14.0818 | 14.1121 | 14.1423 | 14.1726 |
Woodie | 13.5866 | 13.8296 | 13.9167 | 14.1597 | 14.2469 | 14.4898 | 14.5770 |
Fibonacci | 13.8555 | 13.9816 | 14.0595 | 14.1856 | 14.3117 | 14.3896 | 14.5157 |
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): | 38.86 | |
MACD (12,26,9): | -0.1022 | |
Directional Movement: | -14.6491 | |
AROON (14): | -85.7143 | |
DEMA (21): | 14.3223 | |
Parabolic SAR (0,02-0,02-0,2): | 14.7436 | |
Elder Ray (13): | -0.2480 | |
Super Trend (3,10): | 14.6237 | |
Zig ZAG (10): | 14.1515 | |
VORTEX (21): | 0.8775 | |
Stochastique (14,3,5): | 6.40 | |
TEMA (21): | 14.1788 | |
Williams %R (14): | -86.81 | |
Chande Momentum Oscillator (20): | -0.7084 | |
Repulse (5,40,3): | -0.2900 | |
ROCnROLL: | 2 | |
TRIX (15,9): | -0.0254 | |
Courbe Coppock: | 7.70 |
MA7: | 14.2411 | |
MA20: | 14.5599 | |
MA50: | 14.4727 | |
MA100: | 14.3282 | |
MAexp7: | 14.2443 | |
MAexp20: | 14.4193 | |
MAexp50: | 14.4310 | |
MAexp100: | 14.3446 | |
Price / MA7: | -0.53% | |
Price / MA20: | -2.71% | |
Price / MA50: | -2.12% | |
Price / MA100: | -1.14% | |
Price / MAexp7: | -0.55% | |
Price / MAexp20: | -1.76% | |
Price / MAexp50: | -1.84% | |
Price / MAexp100: | -1.25% |
News
The last news published on USD/ZAR at the time of the generation of this analysis was as follows:
- USD/ZAR Forecast July 1, 2019
- USD/ZAR Forecast June 11, 2019
- USD/ZAR Forecast June 7, 2019
- USD/ZAR Forecast June 3, 2019
- USD/ZAR Forecast May 21, 2019
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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