CHF/ZAR - 1H - Technical analysis published on 11/08/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
56%
6%
39%
My opinion
Bearish under 20.0807 ZAR
My targets
19.8205 ZAR (-0.1084)
19.7584 ZAR (-0.1705)
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 20.0807 ZAR remains possible. It is advisable to trade CHF/ZAR with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 20.0807 ZAR. The next bearish objective for sellers is set at 19.8205 ZAR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 19.7584 ZAR. In case of crossing, the next objective would be the support located at 17.6362 ZAR. PS: if there is a bullish break in the resistance located at 20.0807 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
0.9
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Additional analysis
Quotes
The CHF/ZAR price is 19.9289 ZAR. The price has increased by +0.51% since the last closing and was between 19.8134 ZAR and 19.9335 ZAR. This implies that the price is at +0.58% from its lowest and at -0.02% from its highest.19.8134
19.9335
19.9289
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of CHF/ZAR in 1H shows an overall bearish trend. The signals given by moving averages are 71.43% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 10 technical indicators on 18 studied are currently positioned bullish. 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
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 16.8228 | 17.6362 | 19.8205 | 19.9289 | 20.0807 | 20.2371 | 20.3569 |
| Change (%) | -15.59% | -11.50% | -0.54% | - | +0.76% | +1.55% | +2.15% |
| Change | -3.1061 | -2.2927 | -0.1084 | - | +0.1518 | +0.3082 | +0.4280 |
| Level | Major | Intermediate | Major | - | 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 | 19.3017 | 19.5515 | 19.6896 | 19.9394 | 20.0775 | 20.3273 | 20.4654 |
| Camarilla | 19.7209 | 19.7565 | 19.7920 | 19.8276 | 19.8632 | 19.8987 | 19.9343 |
| Woodie | 19.2458 | 19.5236 | 19.6337 | 19.9115 | 20.0216 | 20.2994 | 20.4095 |
| Fibonacci | 19.5515 | 19.6997 | 19.7913 | 19.9394 | 20.0876 | 20.1792 | 20.3273 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.7584 | 19.9711 | 20.1261 | 20.3388 | 20.4938 | 20.7065 | 20.8615 |
| Camarilla | 20.1800 | 20.2137 | 20.2474 | 20.2811 | 20.3148 | 20.3485 | 20.3822 |
| Woodie | 19.7296 | 19.9567 | 20.0973 | 20.3244 | 20.4650 | 20.6921 | 20.8327 |
| Fibonacci | 19.9711 | 20.1116 | 20.1983 | 20.3388 | 20.4793 | 20.5660 | 20.7065 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.6453 | 19.9084 | 20.1456 | 20.4087 | 20.6459 | 20.9090 | 21.1462 |
| Camarilla | 20.2451 | 20.2910 | 20.3368 | 20.3827 | 20.4286 | 20.4744 | 20.5203 |
| Woodie | 19.6323 | 19.9019 | 20.1326 | 20.4022 | 20.6329 | 20.9025 | 21.1332 |
| Fibonacci | 19.9084 | 20.0996 | 20.2176 | 20.4087 | 20.5999 | 20.7179 | 20.9090 |
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): | 50.37 | |
| MACD (12,26,9): | -0.0302 | |
| Directional Movement: | -5.5947 | |
| AROON (14): | 57.1429 | |
| DEMA (21): | 19.8459 | |
| Parabolic SAR (0,02-0,02-0,2): | 19.8439 | |
| Elder Ray (13): | 0.0249 | |
| Super Trend (3,10): | 19.9711 | |
| Zig ZAG (10): | 19.9281 | |
| VORTEX (21): | 1.0187 | |
| Stochastique (14,3,5): | 77.72 | |
| TEMA (21): | 19.8739 | |
| Williams %R (14): | -5.11 | |
| Chande Momentum Oscillator (20): | 0.0812 | |
| Repulse (5,40,3): | 0.2478 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0378 | |
| Courbe Coppock: | 0.38 |
| MA7: | 20.1491 | |
| MA20: | 20.3059 | |
| MA50: | 20.5301 | |
| MA100: | 20.6185 | |
| MAexp7: | 19.8934 | |
| MAexp20: | 19.8990 | |
| MAexp50: | 19.9897 | |
| MAexp100: | 20.0932 | |
| Price / MA7: | -1.09% | |
| Price / MA20: | -1.86% | |
| Price / MA50: | -2.93% | |
| Price / MA100: | -3.34% | |
| Price / MAexp7: | +0.18% | |
| Price / MAexp20: | +0.15% | |
| Price / MAexp50: | -0.30% | |
| Price / MAexp100: | -0.82% |
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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