NZD/ZAR - 1H - Technical analysis published on 05/09/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 11.7053 ZAR
My targets
11.8240 ZAR (+0.0224)
12.0295 ZAR (+0.2279)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on NZD/ZAR as long as the price remains well above 11.7053 ZAR. The buyers' bullish objective is set at 11.8240 ZAR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 12.0295 ZAR. If there is any crossing, the next objective would be the resistance located at 12.0335 ZAR. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.6
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Additional analysis
Quotes
The NZD/ZAR price is 11.8016 ZAR. The price has increased by +1.67% since the last closing and was between 11.6028 ZAR and 11.8119 ZAR. This implies that the price is at +1.71% from its lowest and at -0.09% from its highest.11.6028
11.8119
11.8016
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by NZD/ZAR:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of NZD/ZAR in 1H shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
RSI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
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
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 11.5572 | 11.6127 | 11.6735 | 11.8016 |
| Change (%) | -2.07% | -1.60% | -1.09% | - |
| Change | -0.2444 | -0.1889 | -0.1281 | - |
| Level | Intermediate | Minor | Major | - |
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 | 11.4379 | 11.4959 | 11.5520 | 11.6100 | 11.6661 | 11.7241 | 11.7802 |
| Camarilla | 11.5767 | 11.5872 | 11.5976 | 11.6081 | 11.6186 | 11.6290 | 11.6395 |
| Woodie | 11.4370 | 11.4954 | 11.5511 | 11.6095 | 11.6652 | 11.7236 | 11.7793 |
| Fibonacci | 11.4959 | 11.5395 | 11.5664 | 11.6100 | 11.6536 | 11.6805 | 11.7241 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.0489 | 11.1676 | 11.3771 | 11.4958 | 11.7053 | 11.8240 | 12.0335 |
| Camarilla | 11.4964 | 11.5264 | 11.5565 | 11.5866 | 11.6167 | 11.6468 | 11.6769 |
| Woodie | 11.0943 | 11.1903 | 11.4225 | 11.5185 | 11.7507 | 11.8467 | 12.0789 |
| Fibonacci | 11.1676 | 11.2930 | 11.3704 | 11.4958 | 11.6212 | 11.6986 | 11.8240 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.5724 | 10.8094 | 11.0581 | 11.2951 | 11.5438 | 11.7808 | 12.0295 |
| Camarilla | 11.1733 | 11.2179 | 11.2624 | 11.3069 | 11.3514 | 11.3960 | 11.4405 |
| Woodie | 10.5784 | 10.8123 | 11.0641 | 11.2980 | 11.5498 | 11.7837 | 12.0355 |
| Fibonacci | 10.8094 | 10.9949 | 11.1095 | 11.2951 | 11.4806 | 11.5952 | 11.7808 |
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): | 81.20 | |
| MACD (12,26,9): | 0.0484 | |
| Directional Movement: | 27.0053 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 11.7861 | |
| Parabolic SAR (0,02-0,02-0,2): | 11.7523 | |
| Elder Ray (13): | 0.0480 | |
| Super Trend (3,10): | 11.7226 | |
| Zig ZAG (10): | 11.8050 | |
| VORTEX (21): | 1.3366 | |
| Stochastique (14,3,5): | 94.97 | |
| TEMA (21): | 11.8100 | |
| Williams %R (14): | -5.88 | |
| Chande Momentum Oscillator (20): | 0.1308 | |
| Repulse (5,40,3): | 0.1681 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0462 | |
| Courbe Coppock: | 2.51 |
| MA7: | 11.5298 | |
| MA20: | 11.3549 | |
| MA50: | 11.3472 | |
| MA100: | 11.1934 | |
| MAexp7: | 11.7836 | |
| MAexp20: | 11.7273 | |
| MAexp50: | 11.6607 | |
| MAexp100: | 11.5889 | |
| Price / MA7: | +2.36% | |
| Price / MA20: | +3.93% | |
| Price / MA50: | +4.00% | |
| Price / MA100: | +5.43% | |
| Price / MAexp7: | +0.15% | |
| Price / MAexp20: | +0.63% | |
| Price / MAexp50: | +1.21% | |
| Price / MAexp100: | +1.84% |
Quotes :
-
Real time data
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Forex
This member declared not having a position on this financial instrument or a related financial instrument.
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