EUR/ZAR
EUR ZAR
19.2189 ZAR (-1.56%)
01/02/2025 - 20:44 Open Real time data - Forex
Open: 19.5229
Change: -0.3035
Volume: 307,838
Low: 19.1699
High: 19.5387
High / Low range: 0.3688
Type: Forex
Ticker: EURZAR
ISIN:

EUR/ZAR - Daily - Technical analysis published on 02/12/2024 (GMT)

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  • 02/12/2024 - 08:14
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  • Timeframe : Daily
  • - Analysis generated on 02/12/2024 - 08:14
  • Status : TARGET REACHED

Summary of the analysis

Trends
Short term: Strongly bullish
Underlying: Strongly bullish
Technical indicators
67%
6%
28%
My opinion
Bullish above 20.1738 ZAR
My targets
20.8912 ZAR (+0.3597)
21.2427 ZAR (+0.7112)
My analysis
The bullish trend is currently very strong on EUR/ZAR. As long as the price remains above the support at 20.1738 ZAR, you could try to benefit from the boom. The first bullish objective is located at 20.8912 ZAR. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 21.2427 ZAR as an objective. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

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
7.3

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 Muhahaha. Take part yourself by sharing additional analysis on another time unit:
15 min. 1H Weekly

Additional analysis

Quotes

EUR/ZAR rating 20.5315 ZAR. On the day, this instrument lost -0.01% with the lowest point at 20.4543 ZAR and the highest point at 20.5827 ZAR. The deviation from the price is +0.38% for the low point and -0.25% for the high point.

20.4543
20.5827
20.5315

A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.

Central Gaps

Bearish opening

Type : Bearish

Timeframe : Openning



So that you have an overall view of the price change, here is a table showing the variations over several periods:
Created with Raphaël 2.3.0-7.507.51522.5January 1st3 years1 year6 months1 month5 daysToday
The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Central Records

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 this Daily chart of EUR/ZAR indicates that the overall trend is strongly bullish. 85.71% 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 is currently detecting a bullish signal that could impact this trend:

Central Indicators

Bullish trend reversal : Moving Average 20

Type : Bullish

Timeframe : Daily



The probability of a further increase are moderate given the direction of the technical indicators.
Other results related to technical indicators were also found by the Central Indicators scanner:

Central Indicators

MACD crosses UP its Moving Average

Type : Bullish

Timeframe : Daily


Price is back over the pivot point

Type : Bullish

Timeframe : Daily


Momentum indicator is back over 0

Type : Bullish

Timeframe : Daily



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:

Central Patterns

Near horizontal resistance

Type : Bearish

Timeframe : Daily


Resistance of channel is broken

Type : Bullish

Timeframe : Daily



No result was found by the Central Candlesticks scanner on Japanese candlesticks.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 19.5641 19.8592 20.1738 20.5315 20.5953 20.8912 21.2427
Change (%) -4.71% -3.27% -1.74% - +0.31% +1.75% +3.46%
Change -0.9674 -0.6723 -0.3577 - +0.0638 +0.3597 +0.7112
Level Major Minor Intermediate - Minor Major Major



Attention could also be paid to pivot points to set price objectives:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard20.253420.320720.427420.494720.601420.668720.7754
Camarilla20.486320.502220.518220.534120.550120.566020.5820
Woodie20.273120.330620.447120.504620.621120.678620.7951
Fibonacci20.320720.387220.428220.494720.561220.602220.6687


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard20.000120.118020.326120.444020.652120.770020.9781
Camarilla20.444520.474320.504220.534120.564020.593920.6238
Woodie20.045120.140620.371120.466620.697120.792621.0231
Fibonacci20.118020.242620.319520.444020.568620.645520.7700


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard19.078619.602619.886520.410520.694421.218421.5023
Camarilla19.948320.022420.096420.170520.244620.318620.3927
Woodie18.958719.542619.766620.350520.574521.158421.3824
Fibonacci19.602619.911220.101920.410520.719120.909821.2184

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
Created with Raphaël 2.3.0Buy12
Moving averages
Created with Raphaël 2.3.0Buy24

RSI (14): 52.51
MACD (12,26,9): -0.0006
Directional Movement: 5.7480
AROON (14): -50.0000
DEMA (21): 20.4436
Parabolic SAR (0,02-0,02-0,2): 20.1427
Elder Ray (13): 0.0815
Super Trend (3,10): 20.1288
Zig ZAG (10): 20.5132
VORTEX (21): 1.0246
Stochastique (14,3,5): 52.62
TEMA (21): 20.4123
Williams %R (14): -32.85
Chande Momentum Oscillator (20): 0.0331
Repulse (5,40,3): 0.9448
ROCnROLL: 1
TRIX (15,9): -0.0022
Courbe Coppock: 2.11
MA7: 20.4310
MA20: 20.4947
MA50: 20.4149
MA100: 20.2490
MAexp7: 20.4486
MAexp20: 20.4399
MAexp50: 20.3982
MAexp100: 20.3263
Price / MA7: +0.49%
Price / MA20: +0.18%
Price / MA50: +0.57%
Price / MA100: +1.40%
Price / MAexp7: +0.41%
Price / MAexp20: +0.45%
Price / MAexp50: +0.65%
Price / MAexp100: +1.01%

Quotes : 02/12/2024 - 08:14 - Real time data - Forex

News


Don't forget to follow the news on EUR/ZAR. At the time of publication of this analysis, the latest news was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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