CAD/ZAR - 1H - Technical analysis published on 02/12/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
39%
17%
44%
My opinion
Bullish above 14.0563 ZAR
My targets
14.1690 ZAR (+0.0331)
14.2347 ZAR (+0.0988)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on CAD/ZAR as long as the price remains well above 14.0563 ZAR. The buyers' bullish objective is set at 14.1690 ZAR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 14.2347 ZAR. If there is any crossing, the next objective would be the resistance located at 14.4108 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
6.8
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Additional analysis
Quotes
The CAD/ZAR rating is 14.1359 ZAR. The price registered an increase of +0.09% on the session with the lowest point at 14.1133 ZAR and the highest point at 14.1435 ZAR. The deviation from the price is +0.16% for the low point and -0.05% for the high point.14.1133
14.1435
14.1359
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
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 LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CAD/ZAR chart shows a strongly 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 market scanner is currently detecting a bullish signal that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, only 7 technical indicators out of 18 analysed are currently bullish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
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:
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 13.9460 | 14.0563 | 14.1249 | 14.1359 | 14.1690 | 14.2347 | 14.4108 |
| Change (%) | -1.34% | -0.56% | -0.08% | - | +0.23% | +0.70% | +1.94% |
| Change | -0.1899 | -0.0796 | -0.0110 | - | +0.0331 | +0.0988 | +0.2749 |
| Level | Intermediate | Intermediate | Minor | - | Intermediate | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 14.0235 | 14.0554 | 14.0897 | 14.1216 | 14.1559 | 14.1878 | 14.2221 |
| Camarilla | 14.1057 | 14.1118 | 14.1178 | 14.1239 | 14.1300 | 14.1360 | 14.1421 |
| Woodie | 14.0246 | 14.0560 | 14.0908 | 14.1222 | 14.1570 | 14.1884 | 14.2232 |
| Fibonacci | 14.0554 | 14.0807 | 14.0963 | 14.1216 | 14.1469 | 14.1625 | 14.1878 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.7822 | 13.8639 | 14.0056 | 14.0873 | 14.2290 | 14.3107 | 14.4524 |
| Camarilla | 14.0859 | 14.1063 | 14.1268 | 14.1473 | 14.1678 | 14.1883 | 14.2087 |
| Woodie | 13.8122 | 13.8789 | 14.0356 | 14.1023 | 14.2590 | 14.3257 | 14.4824 |
| Fibonacci | 13.8639 | 13.9492 | 14.0020 | 14.0873 | 14.1726 | 14.2254 | 14.3107 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.1735 | 13.4814 | 13.6909 | 13.9988 | 14.2083 | 14.5162 | 14.7257 |
| Camarilla | 13.7582 | 13.8056 | 13.8531 | 13.9005 | 13.9479 | 13.9954 | 14.0428 |
| Woodie | 13.1244 | 13.4568 | 13.6418 | 13.9742 | 14.1592 | 14.4916 | 14.6766 |
| Fibonacci | 13.4814 | 13.6790 | 13.8011 | 13.9988 | 14.1964 | 14.3185 | 14.5162 |
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): | 56.65 | |
| MACD (12,26,9): | 0.0110 | |
| Directional Movement: | 6.0741 | |
| AROON (14): | -57.1428 | |
| DEMA (21): | 14.1418 | |
| Parabolic SAR (0,02-0,02-0,2): | 14.1642 | |
| Elder Ray (13): | -0.0022 | |
| Super Trend (3,10): | 14.0652 | |
| Zig ZAG (10): | 14.1371 | |
| VORTEX (21): | 1.0240 | |
| Stochastique (14,3,5): | 50.12 | |
| TEMA (21): | 14.1384 | |
| Williams %R (14): | -38.60 | |
| Chande Momentum Oscillator (20): | 0.0058 | |
| Repulse (5,40,3): | 0.2184 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0150 | |
| Courbe Coppock: | 0.12 |
| MA7: | 14.0844 | |
| MA20: | 14.0579 | |
| MA50: | 13.9709 | |
| MA100: | 13.8580 | |
| MAexp7: | 14.1318 | |
| MAexp20: | 14.1256 | |
| MAexp50: | 14.0989 | |
| MAexp100: | 14.0695 | |
| Price / MA7: | +0.37% | |
| Price / MA20: | +0.55% | |
| Price / MA50: | +1.18% | |
| Price / MA100: | +2.01% | |
| Price / MAexp7: | +0.02% | |
| Price / MAexp20: | +0.06% | |
| Price / MAexp50: | +0.25% | |
| Price / MAexp100: | +0.46% |
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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