EUR/ZAR - 1H - Technical analysis published on 08/14/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
28%
44%
28%
My opinion
Bearish under 19.9868 ZAR
My targets
19.8215 ZAR (-0.0858)
19.7129 ZAR (-0.1944)
My analysis
EUR/ZAR is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 19.9868 ZAR. The next support located at 19.8215 ZAR is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 19.7129 ZAR. Below this support, sellers could then target 19.6436 ZAR. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
6.6
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
EUR/ZAR rating 19.9073 ZAR. On the day, this instrument lost -0.02% and was between 19.8718 ZAR and 19.9557 ZAR. This implies that the price is at +0.18% from its lowest and at -0.24% from its highest.19.8718
19.9557
19.9073
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of EUR/ZAR in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 19.6436 | 19.7129 | 19.8215 | 19.9073 | 19.9868 | 20.1705 | 20.3075 |
| Change (%) | -1.32% | -0.98% | -0.43% | - | +0.40% | +1.32% | +2.01% |
| Change | -0.2637 | -0.1944 | -0.0858 | - | +0.0795 | +0.2632 | +0.4002 |
| Level | Minor | Minor | Intermediate | - | Intermediate | Major | Minor |
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 | 19.6840 | 19.7527 | 19.8319 | 19.9006 | 19.9798 | 20.0485 | 20.1277 |
| Camarilla | 19.8703 | 19.8839 | 19.8974 | 19.9110 | 19.9246 | 19.9381 | 19.9517 |
| Woodie | 19.6892 | 19.7553 | 19.8371 | 19.9032 | 19.9850 | 20.0511 | 20.1329 |
| Fibonacci | 19.7527 | 19.8092 | 19.8441 | 19.9006 | 19.9571 | 19.9920 | 20.0485 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.1955 | 19.5489 | 19.7789 | 20.1323 | 20.3623 | 20.7157 | 20.9457 |
| Camarilla | 19.8486 | 19.9020 | 19.9555 | 20.0090 | 20.0625 | 20.1160 | 20.1694 |
| Woodie | 19.1339 | 19.5181 | 19.7173 | 20.1015 | 20.3007 | 20.6849 | 20.8841 |
| Fibonacci | 19.5489 | 19.7717 | 19.9094 | 20.1323 | 20.3551 | 20.4928 | 20.7157 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.5003 | 18.8968 | 19.3049 | 19.7014 | 20.1095 | 20.5060 | 20.9141 |
| Camarilla | 19.4916 | 19.5654 | 19.6392 | 19.7129 | 19.7867 | 19.8604 | 19.9342 |
| Woodie | 18.5060 | 18.8997 | 19.3106 | 19.7043 | 20.1152 | 20.5089 | 20.9198 |
| Fibonacci | 18.8968 | 19.2042 | 19.3941 | 19.7014 | 20.0088 | 20.1987 | 20.5060 |
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): | 43.30 | |
| MACD (12,26,9): | -0.0021 | |
| Directional Movement: | -0.5766 | |
| AROON (14): | 14.2857 | |
| DEMA (21): | 19.9106 | |
| Parabolic SAR (0,02-0,02-0,2): | 19.9557 | |
| Elder Ray (13): | -0.0151 | |
| Super Trend (3,10): | 19.9454 | |
| Zig ZAG (10): | 19.8982 | |
| VORTEX (21): | 0.9655 | |
| Stochastique (14,3,5): | 44.42 | |
| TEMA (21): | 19.9113 | |
| Williams %R (14): | -74.14 | |
| Chande Momentum Oscillator (20): | -0.0328 | |
| Repulse (5,40,3): | 0.0280 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.03 |
| MA7: | 20.0180 | |
| MA20: | 19.9394 | |
| MA50: | 19.8022 | |
| MA100: | 19.9517 | |
| MAexp7: | 19.9090 | |
| MAexp20: | 19.9123 | |
| MAexp50: | 19.9220 | |
| MAexp100: | 19.9442 | |
| Price / MA7: | -0.55% | |
| Price / MA20: | -0.16% | |
| Price / MA50: | +0.53% | |
| Price / MA100: | -0.22% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | -0.03% | |
| Price / MAexp50: | -0.07% | |
| Price / MAexp100: | -0.19% |
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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