EUR/ZAR

- ZAR (-)

- Real time data - Forex

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Forex
Ticker:	EURZAR
ISIN:

EUR/ZAR - 1H - Technical analysis published on 01/29/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Neutral

Underlying: Bearish

Technical indicators

67%

28%

My opinion

Bearish under 20.4975 ZAR

My targets

20.3517 ZAR (-0.0384)

20.1893 ZAR (-0.2008)

My analysis

We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on EUR/ZAR. As long as you are under the resistance located at 20.4975 ZAR, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 20.3517 ZAR would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 20.1893 ZAR as an objective. Crossing it would then enable sellers to target 20.0881 ZAR. If the resistance 20.4975 ZAR were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.

In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.

Force

0.5

Comment on the analysis

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 Londinia. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The EUR/ZAR rating is 20.3901 ZAR. The price registered a decrease of -0.01% on the session and was between 20.2765 ZAR and 20.4323 ZAR. This implies that the price is at +0.56% from its lowest and at -0.21% from its highest.

20.2765

20.4323

20.3901

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

Here is a more detailed summary of the historical variations registered by EUR/ZAR:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

New LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this 1H chart of EUR/ZAR indicates that the overall trend is bearish. 71.43% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, 12 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Price is back over the pivot point

Type : Bullish

Timeframe : 1 hour

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:

Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	19.8592	20.0881	20.3517	20.3901	20.4975	20.5772	20.6293
Change (%)	-2.60%	-1.48%	-0.19%	-	+0.53%	+0.92%	+1.17%
Change	-0.5309	-0.3020	-0.0384	-	+0.1074	+0.1871	+0.2392
Level	Intermediate	Minor	Major	-	Major	Intermediate	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	20.1951	20.2774	20.3344	20.4167	20.4737	20.5560	20.6130
Camarilla	20.3532	20.3660	20.3787	20.3915	20.4043	20.4170	20.4298
Woodie	20.1826	20.2711	20.3219	20.4104	20.4612	20.5497	20.6005
Fibonacci	20.2774	20.3306	20.3635	20.4167	20.4699	20.5028	20.5560

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	19.6145	19.9870	20.1893	20.5618	20.7641	21.1366	21.3389
Camarilla	20.2334	20.2861	20.3388	20.3915	20.4442	20.4969	20.5496
Woodie	19.5293	19.9445	20.1041	20.5193	20.6789	21.0941	21.2537
Fibonacci	19.9870	20.2066	20.3423	20.5618	20.7814	20.9171	21.1366

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	18.9373	19.3956	19.7908	20.2491	20.6443	21.1026	21.4978
Camarilla	19.9514	20.0296	20.1079	20.1861	20.2643	20.3426	20.4208
Woodie	18.9059	19.3798	19.7594	20.2333	20.6129	21.0868	21.4664
Fibonacci	19.3956	19.7216	19.9230	20.2491	20.5751	20.7765	21.1026

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):	55.48
MACD (12,26,9):	-0.0091
Directional Movement:	4.3131
AROON (14):	-50.0000
DEMA (21):	20.3400
Parabolic SAR (0,02-0,02-0,2):	20.2913
Elder Ray (13):	0.0215
Super Trend (3,10):	20.4215
Zig ZAG (10):	20.3884
VORTEX (21):	0.9855
Stochastique (14,3,5):	69.70
TEMA (21):	20.3544
Williams %R (14):	-4.99
Chande Momentum Oscillator (20):	0.0399
Repulse (5,40,3):	0.1736
ROCnROLL:	-1
TRIX (15,9):	-0.0135
Courbe Coppock:	0.12

MA7:	20.5896
MA20:	20.5209
MA50:	20.4210
MA100:	20.2380
MAexp7:	20.3598
MAexp20:	20.3575
MAexp50:	20.3996
MAexp100:	20.4705
Price / MA7:	-0.97%
Price / MA20:	-0.64%
Price / MA50:	-0.15%
Price / MA100:	+0.75%
Price / MAexp7:	+0.15%
Price / MAexp20:	+0.16%
Price / MAexp50:	-0.05%
Price / MAexp100:	-0.39%

Quotes : - Real time data - Forex

News

Don't forget to follow the news on EUR/ZAR. At the time of publication of this analysis, the latest news was as follows:

EUR/ZAR To Remain Weak

This member declared not having a position on this financial instrument or a related financial instrument.

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