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USD/ZAR
USD ZAR
- ZAR (-)
- Real time data - Forex
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Forex
Ticker: USDZAR
ISIN:

USD/ZAR - 1H - Technical analysis published on 11/10/2023 (GMT)

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  • Timeframe : 1H
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Summary of the analysis

Trends
Short term: Strongly bullish
Underlying: Strongly bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 18.7784 ZAR
My targets
18.9458 ZAR (+0.1412)
19.1116 ZAR (+0.3070)
My analysis
The bullish trend is currently very strong on USD/ZAR. As long as the price remains above the support at 18.7784 ZAR, you could try to benefit from the boom. The first bullish objective is located at 18.9458 ZAR. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 19.1116 ZAR as an objective. Crossing it would then enable buyers to target 19.5244 ZAR. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.2

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.

hannahfreeman
This analysis was given by hannahfreeman. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

The USD/ZAR price is 18.8046 ZAR. The price registered an increase of +0.72% on the session and was between 18.6182 ZAR and 18.8057 ZAR. This implies that the price is at +1.00% from its lowest and at -0.01% from its highest.

18.6182
18.8057
18.8046

The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



So that you have an overall view of the price change, here is a table showing the variations over several periods:
The study of the highest / lowest by the Central Records scanner shows the following result:

Central Records

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly



Technical


Technical analysis of USD/ZAR in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, according to the parameters integrated into the Central Analyzer system, 13 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : 1 hour


CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour


Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Central Indicators

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : 1 hour


Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly



Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:

Central Patterns

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour


Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour



For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:

Central Candlesticks

Bullish engulfing lines

Type : Bullish

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 18.4099 18.6833 18.7784 18.8046 18.9458 19.1116 19.5244
Change (%) -2.10% -0.65% -0.14% - +0.75% +1.63% +3.83%
Change -0.3947 -0.1213 -0.0262 - +0.1412 +0.3070 +0.7198
Level Major Major Major - Minor Major Minor



Attention could also be paid to pivot points to set price objectives:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard18.265618.351918.510818.597118.756018.842319.0012
Camarilla18.602418.624918.647318.669818.692318.714818.7372
Woodie18.302018.370118.547218.615318.792418.860519.0376
Fibonacci18.351918.445518.503418.597118.690718.748618.8423


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard17.253217.730417.991418.468618.729619.206819.4678
Camarilla18.049418.117118.184718.252418.320118.387718.4554
Woodie17.145117.676417.883318.414618.621519.152819.3597
Fibonacci17.730418.012418.186618.468618.750618.924819.2068


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard17.295417.962318.306218.973119.317019.983920.3278
Camarilla18.372218.464918.557518.650218.742918.835518.9282
Woodie17.134017.881618.144818.892419.155619.903220.1664
Fibonacci17.962318.348418.586918.973119.359219.597719.9839

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): 72.45
MACD (12,26,9): 0.0461
Directional Movement: 16.8942
AROON (14): 35.7142
DEMA (21): 18.7413
Parabolic SAR (0,02-0,02-0,2): 18.6511
Elder Ray (13): 0.0459
Super Trend (3,10): 18.6255
Zig ZAG (10): 18.7727
VORTEX (21): 1.2010
Stochastique (14,3,5): 73.65
TEMA (21): 18.7486
Williams %R (14): -10.92
Chande Momentum Oscillator (20): 0.1143
Repulse (5,40,3): 0.2192
ROCnROLL: 1
TRIX (15,9): 0.0331
Courbe Coppock: 0.72
MA7: 18.4668
MA20: 18.7389
MA50: 18.9329
MA100: 18.7258
MAexp7: 18.7303
MAexp20: 18.6795
MAexp50: 18.5971
MAexp100: 18.5326
Price / MA7: +1.83%
Price / MA20: +0.35%
Price / MA50: -0.68%
Price / MA100: +0.42%
Price / MAexp7: +0.40%
Price / MAexp20: +0.67%
Price / MAexp50: +1.12%
Price / MAexp100: +1.47%

Quotes : - Real time data - Forex

News


The last news published on USD/ZAR at the time of the generation of this analysis was as follows:

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

About author

Londinia
Londinia AI

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