GBP/ZAR - Daily - Technical analysis published on 11/03/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
56%
11%
33%
My opinion
Bullish above 20.5115 ZAR
My targets
20.9867 ZAR (+0.1903)
21.7215 ZAR (+0.9251)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on GBP/ZAR as long as the price remains well above 20.5115 ZAR. The buyers' bullish objective is set at 20.9867 ZAR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 21.7215 ZAR. If there is any crossing, the next objective would be the resistance located at 23.6066 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, 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
7.5
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/ZAR rating is 20.7964 ZAR. On the day, this instrument lost -0.01% and was traded between 20.7606 ZAR and 20.8266 ZAR over the period. The price is currently at +0.17% from its lowest and -0.15% from its highest.20.7606
20.8266
20.7964
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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
A technical analysis in Daily of this GBP/ZAR chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% 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 moderate bullish signal.
Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 19.5398 | 20.1505 | 20.5115 | 20.7964 | 20.9867 | 21.7215 | 23.6066 |
Change (%) | -6.04% | -3.11% | -1.37% | - | +0.92% | +4.45% | +13.51% |
Change | -1.2566 | -0.6459 | -0.2849 | - | +0.1903 | +0.9251 | +2.8102 |
Level | Intermediate | Intermediate | Major | - | Major | Intermediate | 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 | 20.5723 | 20.6677 | 20.7334 | 20.8288 | 20.8945 | 20.9899 | 21.0556 |
Camarilla | 20.7547 | 20.7695 | 20.7842 | 20.7990 | 20.8138 | 20.8285 | 20.8433 |
Woodie | 20.5574 | 20.6603 | 20.7185 | 20.8214 | 20.8796 | 20.9825 | 21.0407 |
Fibonacci | 20.6677 | 20.7293 | 20.7673 | 20.8288 | 20.8904 | 20.9284 | 20.9899 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 19.9367 | 20.1845 | 20.6294 | 20.8772 | 21.3221 | 21.5699 | 22.0148 |
Camarilla | 20.8839 | 20.9474 | 21.0109 | 21.0744 | 21.1379 | 21.2014 | 21.2649 |
Woodie | 20.0354 | 20.2338 | 20.7281 | 20.9265 | 21.4208 | 21.6192 | 22.1135 |
Fibonacci | 20.1845 | 20.4491 | 20.6126 | 20.8772 | 21.1418 | 21.3053 | 21.5699 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 18.8972 | 19.3990 | 20.2184 | 20.7202 | 21.5396 | 22.0414 | 22.8608 |
Camarilla | 20.6744 | 20.7955 | 20.9166 | 21.0377 | 21.1588 | 21.2799 | 21.4010 |
Woodie | 19.0559 | 19.4784 | 20.3771 | 20.7996 | 21.6983 | 22.1208 | 23.0195 |
Fibonacci | 19.3990 | 19.9037 | 20.2155 | 20.7202 | 21.2249 | 21.5367 | 22.0414 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
RSI (14): | 59.60 | |
MACD (12,26,9): | 0.2161 | |
Directional Movement: | 6.0277 | |
AROON (14): | 78.5714 | |
DEMA (21): | 20.9161 | |
Parabolic SAR (0,02-0,02-0,2): | 21.2129 | |
Elder Ray (13): | 0.0418 | |
Super Trend (3,10): | 20.2698 | |
Zig ZAG (10): | 20.7940 | |
VORTEX (21): | 1.1300 | |
Stochastique (14,3,5): | 58.20 | |
TEMA (21): | 21.0163 | |
Williams %R (14): | -48.94 | |
Chande Momentum Oscillator (20): | 0.3151 | |
Repulse (5,40,3): | -0.2611 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.1542 | |
Courbe Coppock: | 5.32 |
MA7: | 20.8987 | |
MA20: | 20.6002 | |
MA50: | 20.2063 | |
MA100: | 20.1132 | |
MAexp7: | 20.8395 | |
MAexp20: | 20.6334 | |
MAexp50: | 20.3489 | |
MAexp100: | 20.1953 | |
Price / MA7: | -0.49% | |
Price / MA20: | +0.95% | |
Price / MA50: | +2.92% | |
Price / MA100: | +3.40% | |
Price / MAexp7: | -0.20% | |
Price / MAexp20: | +0.80% | |
Price / MAexp50: | +2.21% | |
Price / MAexp100: | +2.98% |
Quotes :
-
Real time data
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Forex
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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