CAD/ZAR - 1H - Technical analysis published on 04/17/2024 (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:
Neutral
Underlying:
Bullish
Technical indicators
28%
28%
44%
My opinion
Bullish above 13.7193 ZAR
My targets
13.7957 ZAR (+0.0216)
13.8266 ZAR (+0.0525)
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 CAD/ZAR. As long as you are above the support located at 13.7193 ZAR, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 13.7957 ZAR would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 13.8266 ZAR as an objective. Crossing it would then enable buyers to target 13.8517 ZAR. If the support 13.7193 ZAR were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
2.9
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
CAD/ZAR rating 13.7741 ZAR. The price registered a decrease of -0.03% on the session and was traded between 13.7615 ZAR and 13.8171 ZAR over the period. The price is currently at +0.09% from its lowest and -0.31% from its highest.13.7615
13.8171
13.7741
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.
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:
Near a new LOW record (1 year)
Type : Bearish
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 1H chart of CAD/ZAR indicates that the overall trend is bullish. 71.43% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 1 hour
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 13.6789 | 13.7193 | 13.7673 | 13.7741 | 13.7957 | 13.8266 | 13.8517 |
| Change (%) | -0.69% | -0.40% | -0.05% | - | +0.16% | +0.38% | +0.56% |
| Change | -0.0952 | -0.0548 | -0.0068 | - | +0.0216 | +0.0525 | +0.0776 |
| Level | Intermediate | Minor | Intermediate | - | Major | Minor | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.5811 | 13.6502 | 13.7140 | 13.7831 | 13.8469 | 13.9160 | 13.9798 |
| Camarilla | 13.7413 | 13.7534 | 13.7656 | 13.7778 | 13.7900 | 13.8022 | 13.8144 |
| Woodie | 13.5785 | 13.6489 | 13.7114 | 13.7818 | 13.8443 | 13.9147 | 13.9772 |
| Fibonacci | 13.6502 | 13.7010 | 13.7323 | 13.7831 | 13.8339 | 13.8652 | 13.9160 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.3871 | 13.4854 | 13.5935 | 13.6918 | 13.7999 | 13.8982 | 14.0063 |
| Camarilla | 13.6447 | 13.6637 | 13.6826 | 13.7015 | 13.7204 | 13.7393 | 13.7583 |
| Woodie | 13.3919 | 13.4879 | 13.5983 | 13.6943 | 13.8047 | 13.9007 | 14.0111 |
| Fibonacci | 13.4854 | 13.5643 | 13.6130 | 13.6918 | 13.7707 | 13.8194 | 13.8982 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.2898 | 13.5169 | 13.7202 | 13.9473 | 14.1506 | 14.3777 | 14.5810 |
| Camarilla | 13.8050 | 13.8445 | 13.8840 | 13.9234 | 13.9629 | 14.0023 | 14.0418 |
| Woodie | 13.2778 | 13.5110 | 13.7082 | 13.9414 | 14.1386 | 14.3718 | 14.5690 |
| Fibonacci | 13.5169 | 13.6814 | 13.7829 | 13.9473 | 14.1118 | 14.2133 | 14.3777 |
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): | 53.36 | |
| MACD (12,26,9): | 0.0015 | |
| Directional Movement: | 6.3381 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 13.7775 | |
| Parabolic SAR (0,02-0,02-0,2): | 13.7209 | |
| Elder Ray (13): | 0.0193 | |
| Super Trend (3,10): | 13.8442 | |
| Zig ZAG (10): | 13.7745 | |
| VORTEX (21): | 0.9783 | |
| Stochastique (14,3,5): | 66.70 | |
| TEMA (21): | 13.7714 | |
| Williams %R (14): | -62.50 | |
| Chande Momentum Oscillator (20): | -0.0113 | |
| Repulse (5,40,3): | -0.2078 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0012 | |
| Courbe Coppock: | 0.08 |
| MA7: | 13.7165 | |
| MA20: | 13.8283 | |
| MA50: | 13.9448 | |
| MA100: | 13.9449 | |
| MAexp7: | 13.7757 | |
| MAexp20: | 13.7774 | |
| MAexp50: | 13.7678 | |
| MAexp100: | 13.7504 | |
| Price / MA7: | +0.42% | |
| Price / MA20: | -0.39% | |
| Price / MA50: | -1.22% | |
| Price / MA100: | -1.22% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | -0.02% | |
| Price / MAexp50: | +0.05% | |
| Price / MAexp100: | +0.17% |
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.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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