DKK/ZAR - 1H - Technical analysis published on 02/20/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
6%
17%
My opinion
Bullish above 2.7470 ZAR
My targets
2.7622 ZAR (+0.0091)
2.7796 ZAR (+0.0265)
My analysis
DKK/ZAR is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 2.7470 ZAR. The next resistance located at 2.7622 ZAR is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 2.7796 ZAR. After this resistance, buyers could then target 2.8023 ZAR. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
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
8
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Additional analysis
Quotes
The DKK/ZAR price is 2.7531 ZAR. The price has increased by +0.40% since the last closing and was traded between 2.7374 ZAR and 2.7629 ZAR over the period. The price is currently at +0.57% from its lowest and -0.35% from its highest.2.7374
2.7629
2.7531
Here is a more detailed summary of the historical variations registered by DKK/ZAR:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
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
A technical analysis in 1H of this DKK/ZAR chart shows a strongly bullish trend. 89.29% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
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
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 2.7347 | 2.7399 | 2.7470 | 2.7531 | 2.7542 | 2.7622 | 2.8023 |
| Change (%) | -0.67% | -0.48% | -0.22% | - | +0.04% | +0.33% | +1.79% |
| Change | -0.0184 | -0.0132 | -0.0061 | - | +0.0011 | +0.0091 | +0.0492 |
| Level | Minor | Minor | Intermediate | - | Minor | Major | 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 | 2.7079 | 2.7167 | 2.7295 | 2.7383 | 2.7511 | 2.7599 | 2.7727 |
| Camarilla | 2.7363 | 2.7382 | 2.7402 | 2.7422 | 2.7442 | 2.7462 | 2.7481 |
| Woodie | 2.7098 | 2.7177 | 2.7314 | 2.7393 | 2.7530 | 2.7609 | 2.7746 |
| Fibonacci | 2.7167 | 2.7250 | 2.7301 | 2.7383 | 2.7466 | 2.7517 | 2.7599 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.6681 | 2.6928 | 2.7115 | 2.7362 | 2.7549 | 2.7796 | 2.7983 |
| Camarilla | 2.7184 | 2.7223 | 2.7263 | 2.7303 | 2.7343 | 2.7383 | 2.7422 |
| Woodie | 2.6652 | 2.6913 | 2.7086 | 2.7347 | 2.7520 | 2.7781 | 2.7954 |
| Fibonacci | 2.6928 | 2.7094 | 2.7196 | 2.7362 | 2.7528 | 2.7630 | 2.7796 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.5610 | 2.6303 | 2.6681 | 2.7374 | 2.7752 | 2.8445 | 2.8823 |
| Camarilla | 2.6765 | 2.6863 | 2.6961 | 2.7059 | 2.7157 | 2.7255 | 2.7354 |
| Woodie | 2.5453 | 2.6224 | 2.6524 | 2.7295 | 2.7595 | 2.8366 | 2.8666 |
| Fibonacci | 2.6303 | 2.6712 | 2.6965 | 2.7374 | 2.7783 | 2.8036 | 2.8445 |
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): | 65.03 | |
| MACD (12,26,9): | 0.0041 | |
| Directional Movement: | 19.9823 | |
| AROON (14): | 14.2857 | |
| DEMA (21): | 2.7505 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.7404 | |
| Elder Ray (13): | 0.0040 | |
| Super Trend (3,10): | 2.7416 | |
| Zig ZAG (10): | 2.7515 | |
| VORTEX (21): | 1.1082 | |
| Stochastique (14,3,5): | 63.79 | |
| TEMA (21): | 2.7525 | |
| Williams %R (14): | -49.41 | |
| Chande Momentum Oscillator (20): | 0.0087 | |
| Repulse (5,40,3): | -0.0349 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0166 | |
| Courbe Coppock: | 0.63 |
| MA7: | 2.7418 | |
| MA20: | 2.7373 | |
| MA50: | 2.7389 | |
| MA100: | 2.7185 | |
| MAexp7: | 2.7508 | |
| MAexp20: | 2.7459 | |
| MAexp50: | 2.7412 | |
| MAexp100: | 2.7395 | |
| Price / MA7: | +0.41% | |
| Price / MA20: | +0.58% | |
| Price / MA50: | +0.52% | |
| Price / MA100: | +1.27% | |
| Price / MAexp7: | +0.08% | |
| Price / MAexp20: | +0.26% | |
| Price / MAexp50: | +0.43% | |
| Price / MAexp100: | +0.50% |
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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