CAD/ZAR - 1H - Technical analysis published on 11/05/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
39%
17%
44%
My opinion
Bearish under 12.6072 ZAR
My targets
12.4745 ZAR (-0.1156)
12.3474 ZAR (-0.2427)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 12.6072 ZAR remains possible. It is advisable to trade CAD/ZAR with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 12.6072 ZAR. The next bearish objective for sellers is set at 12.4745 ZAR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 12.3474 ZAR. In case of crossing, the next objective would be the support located at 12.2101 ZAR. PS: if there is a bullish break in the resistance located at 12.6072 ZAR we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
1.8
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Additional analysis
Quotes
The CAD/ZAR price is 12.5901 ZAR. On the day, this instrument lost -0.04% and was traded between 12.5374 ZAR and 12.6157 ZAR over the period. The price is currently at +0.42% from its lowest and -0.20% from its highest.12.5374
12.6157
12.5901
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New LOW record (1 year)
Type : Bearish
Timeframe : Weekly
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CAD/ZAR chart shows a bearish trend. 71.43% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
Technical indicators are slightly bullish. There is therefore considerable uncertainty about the continuation of the increase.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 11.4966 | 12.2101 | 12.5831 | 12.5901 | 12.6072 | 12.6741 | 12.7337 |
| Change (%) | -8.69% | -3.02% | -0.06% | - | +0.14% | +0.67% | +1.14% |
| Change | -1.0935 | -0.3800 | -0.0070 | - | +0.0171 | +0.0840 | +0.1436 |
| Level | Intermediate | Major | Intermediate | - | Intermediate | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.4975 | 12.5403 | 12.5674 | 12.6102 | 12.6373 | 12.6801 | 12.7072 |
| Camarilla | 12.5753 | 12.5817 | 12.5881 | 12.5945 | 12.6009 | 12.6073 | 12.6137 |
| Woodie | 12.4897 | 12.5364 | 12.5596 | 12.6063 | 12.6295 | 12.6762 | 12.6994 |
| Fibonacci | 12.5403 | 12.5670 | 12.5835 | 12.6102 | 12.6369 | 12.6534 | 12.6801 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.3474 | 12.4745 | 12.5583 | 12.6854 | 12.7692 | 12.8963 | 12.9801 |
| Camarilla | 12.5842 | 12.6035 | 12.6229 | 12.6422 | 12.6615 | 12.6809 | 12.7002 |
| Woodie | 12.3259 | 12.4637 | 12.5368 | 12.6746 | 12.7477 | 12.8855 | 12.9586 |
| Fibonacci | 12.4745 | 12.5550 | 12.6048 | 12.6854 | 12.7659 | 12.8157 | 12.8963 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.1329 | 12.3701 | 12.5005 | 12.7377 | 12.8681 | 13.1053 | 13.2357 |
| Camarilla | 12.5299 | 12.5636 | 12.5973 | 12.6310 | 12.6647 | 12.6984 | 12.7321 |
| Woodie | 12.0796 | 12.3434 | 12.4472 | 12.7110 | 12.8148 | 13.0786 | 13.1824 |
| Fibonacci | 12.3701 | 12.5105 | 12.5972 | 12.7377 | 12.8781 | 12.9648 | 13.1053 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 51.76 | |
| MACD (12,26,9): | -0.0091 | |
| Directional Movement: | 3.8284 | |
| AROON (14): | -35.7143 | |
| DEMA (21): | 12.5658 | |
| Parabolic SAR (0,02-0,02-0,2): | 12.6032 | |
| Elder Ray (13): | 0.0050 | |
| Super Trend (3,10): | 12.6282 | |
| Zig ZAG (10): | 12.5910 | |
| VORTEX (21): | 0.9485 | |
| Stochastique (14,3,5): | 47.30 | |
| TEMA (21): | 12.5658 | |
| Williams %R (14): | -24.46 | |
| Chande Momentum Oscillator (20): | 0.0159 | |
| Repulse (5,40,3): | 0.2857 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0119 | |
| Courbe Coppock: | 0.30 |
| MA7: | 12.6543 | |
| MA20: | 12.7250 | |
| MA50: | 12.8849 | |
| MA100: | 13.0726 | |
| MAexp7: | 12.5714 | |
| MAexp20: | 12.5784 | |
| MAexp50: | 12.5982 | |
| MAexp100: | 12.6267 | |
| Price / MA7: | -0.51% | |
| Price / MA20: | -1.06% | |
| Price / MA50: | -2.29% | |
| Price / MA100: | -3.69% | |
| Price / MAexp7: | +0.15% | |
| Price / MAexp20: | +0.09% | |
| Price / MAexp50: | -0.06% | |
| Price / MAexp100: | -0.29% |
Quotes :
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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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