CHF/ZAR - 1H - Technical analysis published on 12/10/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
67%
6%
28%
My opinion
Bearish under 20.3882 ZAR
My targets
20.2582 ZAR (-0.0361)
20.1822 ZAR (-0.1121)
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 20.3882 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 20.3882 ZAR. The next bearish objective for sellers is set at 20.2582 ZAR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 20.1822 ZAR. In case of crossing, the next objective would be the support located at 20.0807 ZAR. PS: if there is a bullish break in the resistance located at 20.3882 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, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
1.3
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
CHF/ZAR rating 20.2943 ZAR. On the day, this instrument gained +0.24% and was traded between 20.2278 ZAR and 20.3038 ZAR over the period. The price is currently at +0.33% from its lowest and -0.05% from its highest.20.2278
20.3038
20.2943
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 LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CHF/ZAR chart shows a bearish trend. 75.00% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
In fact, 12 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
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 | 20.0807 | 20.1822 | 20.2582 | 20.2943 | 20.3882 | 20.4883 | 20.5592 |
| Change (%) | -1.05% | -0.55% | -0.18% | - | +0.46% | +0.96% | +1.31% |
| Change | -0.2136 | -0.1121 | -0.0361 | - | +0.0939 | +0.1940 | +0.2649 |
| Level | Intermediate | Intermediate | Major | - | Major | Minor | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.7522 | 19.9672 | 20.1063 | 20.3213 | 20.4604 | 20.6754 | 20.8145 |
| Camarilla | 20.1480 | 20.1805 | 20.2129 | 20.2454 | 20.2779 | 20.3103 | 20.3428 |
| Woodie | 19.7143 | 19.9482 | 20.0684 | 20.3023 | 20.4225 | 20.6564 | 20.7766 |
| Fibonacci | 19.9672 | 20.1025 | 20.1860 | 20.3213 | 20.4566 | 20.5401 | 20.6754 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 20.1590 | 20.2735 | 20.4014 | 20.5159 | 20.6438 | 20.7583 | 20.8862 |
| Camarilla | 20.4626 | 20.4849 | 20.5071 | 20.5293 | 20.5515 | 20.5737 | 20.5960 |
| Woodie | 20.1657 | 20.2769 | 20.4081 | 20.5193 | 20.6505 | 20.7617 | 20.8929 |
| Fibonacci | 20.2735 | 20.3661 | 20.4233 | 20.5159 | 20.6085 | 20.6657 | 20.7583 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.0663 | 19.4338 | 19.9588 | 20.3263 | 20.8513 | 21.2188 | 21.7438 |
| Camarilla | 20.2383 | 20.3201 | 20.4019 | 20.4837 | 20.5655 | 20.6473 | 20.7291 |
| Woodie | 19.1450 | 19.4732 | 20.0375 | 20.3657 | 20.9300 | 21.2582 | 21.8225 |
| Fibonacci | 19.4338 | 19.7748 | 19.9854 | 20.3263 | 20.6673 | 20.8779 | 21.2188 |
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): | 46.43 | |
| MACD (12,26,9): | -0.0367 | |
| Directional Movement: | -3.2906 | |
| AROON (14): | 71.4285 | |
| DEMA (21): | 20.2318 | |
| Parabolic SAR (0,02-0,02-0,2): | 20.2163 | |
| Elder Ray (13): | 0.0190 | |
| Super Trend (3,10): | 20.3638 | |
| Zig ZAG (10): | 20.2938 | |
| VORTEX (21): | 0.8976 | |
| Stochastique (14,3,5): | 91.14 | |
| TEMA (21): | 20.2398 | |
| Williams %R (14): | -7.73 | |
| Chande Momentum Oscillator (20): | 0.0505 | |
| Repulse (5,40,3): | 0.2133 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0400 | |
| Courbe Coppock: | 0.06 |
| MA7: | 20.4353 | |
| MA20: | 20.4539 | |
| MA50: | 20.3941 | |
| MA100: | 20.6420 | |
| MAexp7: | 20.2725 | |
| MAexp20: | 20.2896 | |
| MAexp50: | 20.3646 | |
| MAexp100: | 20.4175 | |
| Price / MA7: | -0.69% | |
| Price / MA20: | -0.78% | |
| Price / MA50: | -0.49% | |
| Price / MA100: | -1.68% | |
| Price / MAexp7: | +0.11% | |
| Price / MAexp20: | +0.02% | |
| Price / MAexp50: | -0.35% | |
| Price / MAexp100: | -0.60% |
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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