CHF/ZAR - 1H - Technical analysis published on 05/23/2024 (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:
Strongly bullish
Underlying:
Bullish
Technical indicators
67%
6%
28%
My opinion
Bullish above 19.9311 ZAR
My targets
20.1891 ZAR (+0.1437)
20.2546 ZAR (+0.2092)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on CHF/ZAR as long as the price remains well above 19.9311 ZAR. The buyers' bullish objective is set at 20.1891 ZAR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 20.2546 ZAR. If there is any crossing, the next objective would be the resistance located at 20.3256 ZAR.
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
5.9
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CHF/ZAR price is 20.0454 ZAR. The price has increased by +0.32% since the last closing with the lowest point at 19.9775 ZAR and the highest point at 20.0490 ZAR. The deviation from the price is +0.34% for the low point and -0.02% for the high point.19.9775
20.0490
20.0454
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 LOW record (1 year)
Type : Bearish
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
Technical analysis of this 1H chart of CHF/ZAR indicates that the overall trend is bullish. 71.43% of the signals given by moving averages are bullish. This bullish trend is supported by the strong bullish signals 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 are moderate 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
Williams %R indicator is overbought : over -20
Type : Neutral
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:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 19.8627 | 19.9311 | 20.0422 | 20.0454 | 20.1891 | 20.2546 | 20.3256 |
| Change (%) | -0.91% | -0.57% | -0.02% | - | +0.72% | +1.04% | +1.40% |
| Change | -0.1827 | -0.1143 | -0.0032 | - | +0.1437 | +0.2092 | +0.2802 |
| Level | Minor | Intermediate | Minor | - | 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 | 19.6499 | 19.7237 | 19.8530 | 19.9268 | 20.0561 | 20.1299 | 20.2592 |
| Camarilla | 19.9266 | 19.9452 | 19.9638 | 19.9824 | 20.0010 | 20.0196 | 20.0383 |
| Woodie | 19.6778 | 19.7376 | 19.8809 | 19.9407 | 20.0840 | 20.1438 | 20.2871 |
| Fibonacci | 19.7237 | 19.8013 | 19.8492 | 19.9268 | 20.0044 | 20.0523 | 20.1299 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.3660 | 19.6477 | 19.8078 | 20.0895 | 20.2496 | 20.5313 | 20.6914 |
| Camarilla | 19.8463 | 19.8868 | 19.9273 | 19.9678 | 20.0083 | 20.0488 | 20.0893 |
| Woodie | 19.3051 | 19.6173 | 19.7469 | 20.0591 | 20.1887 | 20.5009 | 20.6305 |
| Fibonacci | 19.6477 | 19.8165 | 19.9208 | 20.0895 | 20.2583 | 20.3626 | 20.5313 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.9850 | 19.6916 | 20.0628 | 20.7694 | 21.1406 | 21.8472 | 22.2184 |
| Camarilla | 20.1377 | 20.2365 | 20.3353 | 20.4341 | 20.5329 | 20.6317 | 20.7305 |
| Woodie | 18.8174 | 19.6078 | 19.8952 | 20.6856 | 20.9730 | 21.7634 | 22.0508 |
| Fibonacci | 19.6916 | 20.1033 | 20.3577 | 20.7694 | 21.1811 | 21.4355 | 21.8472 |
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): | 66.84 | |
| MACD (12,26,9): | 0.0327 | |
| Directional Movement: | 10.8930 | |
| AROON (14): | 42.8572 | |
| DEMA (21): | 20.0149 | |
| Parabolic SAR (0,02-0,02-0,2): | 19.9431 | |
| Elder Ray (13): | 0.0388 | |
| Super Trend (3,10): | 19.9242 | |
| Zig ZAG (10): | 20.0447 | |
| VORTEX (21): | 1.1500 | |
| Stochastique (14,3,5): | 85.16 | |
| TEMA (21): | 20.0396 | |
| Williams %R (14): | -5.62 | |
| Chande Momentum Oscillator (20): | 0.0827 | |
| Repulse (5,40,3): | 0.2234 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0207 | |
| Courbe Coppock: | 0.76 |
| MA7: | 20.0146 | |
| MA20: | 20.2523 | |
| MA50: | 20.6397 | |
| MA100: | 21.1664 | |
| MAexp7: | 20.0129 | |
| MAexp20: | 19.9731 | |
| MAexp50: | 19.9507 | |
| MAexp100: | 19.9877 | |
| Price / MA7: | +0.15% | |
| Price / MA20: | -1.02% | |
| Price / MA50: | -2.88% | |
| Price / MA100: | -5.30% | |
| Price / MAexp7: | +0.16% | |
| Price / MAexp20: | +0.36% | |
| Price / MAexp50: | +0.47% | |
| Price / MAexp100: | +0.29% |
Quotes :
-
Real time data
-
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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