EUR/ZAR - 1H - Technical analysis published on 06/27/2023 (GMT)
- 179
- 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
56%
6%
39%
My opinion
Bullish above 20.2240 ZAR
My targets
20.6472 ZAR (+0.2884)
20.8014 ZAR (+0.4426)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on EUR/ZAR as long as the price remains well above 20.2240 ZAR. The buyers' bullish objective is set at 20.6472 ZAR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 20.8014 ZAR. If there is any crossing, the next objective would be the resistance located at 21.2427 ZAR. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
6.6
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/ZAR rating is 20.3588 ZAR. The price registered an increase of +0.00% on the session and was between 20.3484 ZAR and 20.3619 ZAR. This implies that the price is at +0.05% from its lowest and at -0.02% from its highest.20.3484
20.3619
20.3588
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
Here is a more detailed summary of the historical variations registered by EUR/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
Technical analysis of EUR/ZAR in 1H shows a strongly overall bullish trend. 85.71% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages indicate this trend is showing signs of running out of steam. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 10 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
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 20.0593 | 20.2240 | 20.3411 | 20.3588 | 20.8014 | 21.2427 |
| Change (%) | -1.47% | -0.66% | -0.09% | - | +2.17% | +4.34% |
| Change | -0.2995 | -0.1348 | -0.0177 | - | +0.4426 | +0.8839 |
| Level | Intermediate | Minor | Intermediate | - | Major | 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 | 19.9900 | 20.1018 | 20.2304 | 20.3422 | 20.4708 | 20.5826 | 20.7112 |
| Camarilla | 20.2928 | 20.3148 | 20.3369 | 20.3589 | 20.3809 | 20.4030 | 20.4250 |
| Woodie | 19.9983 | 20.1060 | 20.2387 | 20.3464 | 20.4791 | 20.5868 | 20.7195 |
| Fibonacci | 20.1018 | 20.1937 | 20.2504 | 20.3422 | 20.4341 | 20.4908 | 20.5826 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.3926 | 19.6023 | 20.0199 | 20.2296 | 20.6472 | 20.8569 | 21.2745 |
| Camarilla | 20.2650 | 20.3225 | 20.3800 | 20.4375 | 20.4950 | 20.5525 | 20.6100 |
| Woodie | 19.4966 | 19.6543 | 20.1239 | 20.2816 | 20.7512 | 20.9089 | 21.3785 |
| Fibonacci | 19.6023 | 19.8419 | 19.9900 | 20.2296 | 20.4692 | 20.6173 | 20.8569 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.0336 | 19.5430 | 20.3172 | 20.8266 | 21.6008 | 22.1102 | 22.8844 |
| Camarilla | 20.7383 | 20.8560 | 20.9736 | 21.0913 | 21.2090 | 21.3266 | 21.4443 |
| Woodie | 19.1659 | 19.6092 | 20.4495 | 20.8928 | 21.7331 | 22.1764 | 23.0167 |
| Fibonacci | 19.5430 | 20.0334 | 20.3363 | 20.8266 | 21.3170 | 21.6199 | 22.1102 |
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): | 51.48 | |
| MACD (12,26,9): | -0.0017 | |
| Directional Movement: | 0.3661 | |
| AROON (14): | 42.8571 | |
| DEMA (21): | 20.3493 | |
| Parabolic SAR (0,02-0,02-0,2): | 20.2377 | |
| Elder Ray (13): | 0.0016 | |
| Super Trend (3,10): | 20.4011 | |
| Zig ZAG (10): | 20.3588 | |
| VORTEX (21): | 0.9323 | |
| Stochastique (14,3,5): | 88.04 | |
| TEMA (21): | 20.3384 | |
| Williams %R (14): | -9.97 | |
| Chande Momentum Oscillator (20): | 0.0410 | |
| Repulse (5,40,3): | 0.1067 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0046 | |
| Courbe Coppock: | 0.18 |
| MA7: | 20.1491 | |
| MA20: | 20.3608 | |
| MA50: | 20.4343 | |
| MA100: | 19.9858 | |
| MAexp7: | 20.3519 | |
| MAexp20: | 20.3516 | |
| MAexp50: | 20.3311 | |
| MAexp100: | 20.2588 | |
| Price / MA7: | +1.04% | |
| Price / MA20: | -0.01% | |
| Price / MA50: | -0.37% | |
| Price / MA100: | +1.87% | |
| Price / MAexp7: | +0.03% | |
| Price / MAexp20: | +0.04% | |
| Price / MAexp50: | +0.14% | |
| Price / MAexp100: | +0.49% |
Quotes :
-
Real time data
-
Forex
News
The last news published on EUR/ZAR at the time of the generation of this analysis was as follows:
EUR/ZAR To Remain WeakThis member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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…
Add a comment
Comments
0 comments on the analysis EUR/ZAR - 1H