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EUR/ZAR
EUR ZAR
- ZAR (-)
- Real time data - Forex
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Forex
Ticker: EURZAR
ISIN:

EUR/ZAR - 1H - Technical analysis published on 06/11/2024 (GMT)

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  • Timeframe : 1H
  • - Analysis generated on
  • Status : TARGET REACHED

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Summary of the analysis

Trends
Short term: Neutral
Underlying: Bearish
Technical indicators
67%
0%
33%
My opinion
Bearish under 20.3459 ZAR
My targets
20.1711 ZAR (-0.0319)
20.1261 ZAR (-0.0769)
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 20.3459 ZAR remains possible. It is advisable to trade EUR/ZAR with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 20.3459 ZAR. The next bearish objective for sellers is set at 20.1711 ZAR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 20.1261 ZAR. In case of crossing, the next objective would be the support located at 19.8918 ZAR. PS: if there is a bullish break in the resistance located at 20.3459 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, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
1.1

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.

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15 min. Daily Weekly

Additional analysis

Quotes

EUR/ZAR rating 20.2030 ZAR. On the day, this instrument gained +0.18% and was between 20.1423 ZAR and 20.2070 ZAR. This implies that the price is at +0.30% from its lowest and at -0.02% from its highest.

20.1423
20.2070
20.2030

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



Here is a more detailed summary of the historical variations registered by EUR/ZAR:
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 LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


Technical analysis of this 1H chart of EUR/ZAR indicates that the overall trend is bearish. The signals given by moving averages are 75.00% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, 12 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:

Central Indicators

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour


Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

The Central Indicators scanner specialised in technical indicators, has not detected anything further.

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 : 1 hour


Near resistance of channel

Type : Bearish

Timeframe : 1 hour



The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:

Central Candlesticks

Bullish harami

Type : Bullish

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 19.5593 19.8918 20.1711 20.2030 20.3459 20.4822 20.5833
Change (%) -3.19% -1.54% -0.16% - +0.71% +1.38% +1.88%
Change -0.6437 -0.3112 -0.0319 - +0.1429 +0.2792 +0.3803
Level Major Major Major - Major Intermediate 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
Standard19.773119.938120.052520.217520.331920.496920.6113
Camarilla20.090020.115620.141220.166820.192420.218020.2436
Woodie19.747719.925520.027120.204920.306520.484320.5859
Fibonacci19.938120.044920.110820.217520.324320.390220.4969


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard19.563819.847620.126120.409920.688420.972221.2507
Camarilla20.249920.301420.353020.404520.456020.507620.5591
Woodie19.561119.846320.123420.408620.685720.970921.2480
Fibonacci19.847620.062420.195120.409920.624720.757420.9722


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard18.918819.243219.814520.138920.710221.034621.6059
Camarilla20.139420.221520.303620.385720.467820.549920.6320
Woodie19.042219.304919.937920.200620.833621.096321.7293
Fibonacci19.243219.585419.796820.138920.481120.692521.0346

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): 46.83
MACD (12,26,9): -0.0306
Directional Movement: -3.3114
AROON (14): -7.1429
DEMA (21): 20.1444
Parabolic SAR (0,02-0,02-0,2): 20.1092
Elder Ray (13): 0.0163
Super Trend (3,10): 20.2656
Zig ZAG (10): 20.2029
VORTEX (21): 0.9371
Stochastique (14,3,5): 87.36
TEMA (21): 20.1713
Williams %R (14): -5.59
Chande Momentum Oscillator (20): 0.0396
Repulse (5,40,3): 0.1354
ROCnROLL: -1
TRIX (15,9): -0.0351
Courbe Coppock: 0.18
MA7: 20.3731
MA20: 20.0726
MA50: 20.1030
MA100: 20.2941
MAexp7: 20.1867
MAexp20: 20.1962
MAexp50: 20.2833
MAexp100: 20.3357
Price / MA7: -0.83%
Price / MA20: +0.65%
Price / MA50: +0.50%
Price / MA100: -0.45%
Price / MAexp7: +0.08%
Price / MAexp20: +0.03%
Price / MAexp50: -0.40%
Price / MAexp100: -0.65%

Quotes : - 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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