EUR/ZAR - 1H - Technical analysis published on 06/05/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 20.4822 ZAR
My targets
20.7028 ZAR (+0.1021)
20.9443 ZAR (+0.3436)
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 20.4822 ZAR. The buyers' bullish objective is set at 20.7028 ZAR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 20.9443 ZAR. If there is any crossing, the next objective would be the resistance located at 21.2427 ZAR. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.6
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Additional analysis
Quotes
The EUR/ZAR price is 20.6007 ZAR. The price registered an increase of +1.09% on the session and was between 20.2919 ZAR and 20.6111 ZAR. This implies that the price is at +1.52% from its lowest and at -0.05% from its highest.20.2919
20.6111
20.6007
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
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 LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of EUR/ZAR in 1H shows a strongly overall bullish trend. The signals given by the moving averages are 89.29% bullish. This strong bullish trend is confirmed by the strong 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.
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
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 over resistance 2
Type : Neutral
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
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 20.4077 | 20.4822 | 20.5833 | 20.6007 | 20.7028 | 20.9443 | 21.2427 |
| Change (%) | -0.94% | -0.58% | -0.08% | - | +0.50% | +1.67% | +3.12% |
| Change | -0.1930 | -0.1185 | -0.0174 | - | +0.1021 | +0.3436 | +0.6420 |
| Level | Minor | Intermediate | Major | - | Minor | Intermediate | 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 | 20.0300 | 20.1114 | 20.2448 | 20.3262 | 20.4596 | 20.5410 | 20.6744 |
| Camarilla | 20.3190 | 20.3387 | 20.3584 | 20.3781 | 20.3978 | 20.4175 | 20.4372 |
| Woodie | 20.0559 | 20.1244 | 20.2707 | 20.3392 | 20.4855 | 20.5540 | 20.7003 |
| Fibonacci | 20.1114 | 20.1935 | 20.2442 | 20.3262 | 20.4083 | 20.4590 | 20.5410 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.2246 | 19.4879 | 19.9368 | 20.2001 | 20.6490 | 20.9123 | 21.3612 |
| Camarilla | 20.1899 | 20.2551 | 20.3204 | 20.3857 | 20.4510 | 20.5163 | 20.5816 |
| Woodie | 19.3174 | 19.5343 | 20.0296 | 20.2465 | 20.7418 | 20.9587 | 21.4540 |
| Fibonacci | 19.4879 | 19.7600 | 19.9280 | 20.2001 | 20.4722 | 20.6402 | 20.9123 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.9188 | 19.2432 | 19.8145 | 20.1389 | 20.7102 | 21.0346 | 21.6059 |
| Camarilla | 20.1394 | 20.2215 | 20.3036 | 20.3857 | 20.4678 | 20.5499 | 20.6320 |
| Woodie | 19.0422 | 19.3049 | 19.9379 | 20.2006 | 20.8336 | 21.0963 | 21.7293 |
| Fibonacci | 19.2432 | 19.5854 | 19.7968 | 20.1389 | 20.4811 | 20.6925 | 21.0346 |
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): | 75.56 | |
| MACD (12,26,9): | 0.0618 | |
| Directional Movement: | 24.2843 | |
| AROON (14): | 50.0000 | |
| DEMA (21): | 20.4933 | |
| Parabolic SAR (0,02-0,02-0,2): | 20.4120 | |
| Elder Ray (13): | 0.1124 | |
| Super Trend (3,10): | 20.3651 | |
| Zig ZAG (10): | 20.5942 | |
| VORTEX (21): | 1.1889 | |
| Stochastique (14,3,5): | 89.70 | |
| TEMA (21): | 20.5334 | |
| Williams %R (14): | -3.50 | |
| Chande Momentum Oscillator (20): | 0.2474 | |
| Repulse (5,40,3): | 0.5556 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0276 | |
| Courbe Coppock: | 1.35 |
| MA7: | 20.2340 | |
| MA20: | 19.9749 | |
| MA50: | 20.1012 | |
| MA100: | 20.3090 | |
| MAexp7: | 20.5094 | |
| MAexp20: | 20.4220 | |
| MAexp50: | 20.3523 | |
| MAexp100: | 20.2794 | |
| Price / MA7: | +1.81% | |
| Price / MA20: | +3.13% | |
| Price / MA50: | +2.48% | |
| Price / MA100: | +1.44% | |
| Price / MAexp7: | +0.45% | |
| Price / MAexp20: | +0.88% | |
| Price / MAexp50: | +1.22% | |
| Price / MAexp100: | +1.59% |
Quotes :
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Real time data
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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:
EUR/ZAR To Remain WeakThis 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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