EUR/ZAR - 15 min. - Technical analysis published on 02/12/2024 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 20.6014 ZAR
My targets
20.4947 ZAR (-0.0392)
20.4274 ZAR (-0.1065)
My analysis
The strong short-term decline of EUR/ZAR reinforces the current slightly bearish trend. As long as the price remains below 20.6014 ZAR, you could take advantage of this bearish acceleration. The first bearish objective is located at 20.4947 ZAR. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 20.4274 ZAR as an objective. Crossing it would then enable sellers to target 20.3207 ZAR. A return to above 20.6014 ZAR would be a sign of a correction of short-term bearish excesses. In this case, you could stay away while waiting for signals indicating a reversal of the trend.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
3.6
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Additional analysis
Quotes
EUR/ZAR rating 20.5339 ZAR. On the day, this instrument gained +0.00% and was traded between 20.4543 ZAR and 20.5827 ZAR over the period. The price is currently at +0.39% from its lowest and -0.24% from its highest.20.4543
20.5827
20.5339
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
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:
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
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 15 min. chart of EUR/ZAR indicates that the overall trend is slightly bearish. Only 53.57% of the signals given by moving averages are bearish. This slightly bearish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 15 minutes
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : 15 minutes
The probability of a further decline is moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 15 minutes
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 15 minutes
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : 15 minutes
Support of channel is broken
Type : Bearish
Timeframe : 15 minutes
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 20.2372 | 20.3886 | 20.5056 | 20.5339 | 20.5620 | 20.5953 | 20.8912 |
| Change (%) | -1.44% | -0.71% | -0.14% | - | +0.14% | +0.30% | +1.74% |
| Change | -0.2967 | -0.1453 | -0.0283 | - | +0.0281 | +0.0614 | +0.3573 |
| Level | Intermediate | Intermediate | Minor | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 20.2534 | 20.3207 | 20.4274 | 20.4947 | 20.6014 | 20.6687 | 20.7754 |
| Camarilla | 20.4863 | 20.5022 | 20.5182 | 20.5341 | 20.5501 | 20.5660 | 20.5820 |
| Woodie | 20.2731 | 20.3306 | 20.4471 | 20.5046 | 20.6211 | 20.6786 | 20.7951 |
| Fibonacci | 20.3207 | 20.3872 | 20.4282 | 20.4947 | 20.5612 | 20.6022 | 20.6687 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 20.0001 | 20.1180 | 20.3261 | 20.4440 | 20.6521 | 20.7700 | 20.9781 |
| Camarilla | 20.4445 | 20.4743 | 20.5042 | 20.5341 | 20.5640 | 20.5939 | 20.6238 |
| Woodie | 20.0451 | 20.1406 | 20.3711 | 20.4666 | 20.6971 | 20.7926 | 21.0231 |
| Fibonacci | 20.1180 | 20.2426 | 20.3195 | 20.4440 | 20.5686 | 20.6455 | 20.7700 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.0786 | 19.6026 | 19.8865 | 20.4105 | 20.6944 | 21.2184 | 21.5023 |
| Camarilla | 19.9483 | 20.0224 | 20.0964 | 20.1705 | 20.2446 | 20.3186 | 20.3927 |
| Woodie | 18.9587 | 19.5426 | 19.7666 | 20.3505 | 20.5745 | 21.1584 | 21.3824 |
| Fibonacci | 19.6026 | 19.9112 | 20.1019 | 20.4105 | 20.7191 | 20.9098 | 21.2184 |
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): | 39.65 | |
| MACD (12,26,9): | -0.0063 | |
| Directional Movement: | -10.5035 | |
| AROON (14): | -42.8571 | |
| DEMA (21): | 20.5327 | |
| Parabolic SAR (0,02-0,02-0,2): | 20.5710 | |
| Elder Ray (13): | -0.0235 | |
| Super Trend (3,10): | 20.5693 | |
| Zig ZAG (10): | 20.5153 | |
| VORTEX (21): | 0.8763 | |
| Stochastique (14,3,5): | 24.15 | |
| TEMA (21): | 20.5230 | |
| Williams %R (14): | -74.12 | |
| Chande Momentum Oscillator (20): | -0.0281 | |
| Repulse (5,40,3): | -0.0345 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0007 | |
| Courbe Coppock: | 0.20 |
| MA7: | 20.4297 | |
| MA20: | 20.4949 | |
| MA50: | 20.4150 | |
| MA100: | 20.2490 | |
| MAexp7: | 20.5250 | |
| MAexp20: | 20.5376 | |
| MAexp50: | 20.5343 | |
| MAexp100: | 20.5146 | |
| Price / MA7: | +0.51% | |
| Price / MA20: | +0.19% | |
| Price / MA50: | +0.58% | |
| Price / MA100: | +1.41% | |
| Price / MAexp7: | +0.04% | |
| Price / MAexp20: | -0.02% | |
| Price / MAexp50: | +0.00% | |
| Price / MAexp100: | +0.09% |
Quotes :
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Real time data
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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 WeakThis member declared not having a position on this financial instrument or a related financial instrument.
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