NZD/ZAR - Daily - Technical analysis published on 08/05/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
22%
28%
50%
My opinion
Bullish above 10.1985 ZAR
My targets
10.7355 ZAR (+0.2803)
10.9264 ZAR (+0.4712)
My analysis
The basic bullish trend is very strong on NZD/ZAR but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 10.1985 ZAR. Crossing the first resistance at 10.7355 ZAR would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 10.9264 ZAR as an objective. Crossing it would then enable buyers to target 11.0759 ZAR. Caution, a return to below 10.1985 ZAR would be a sign of a consolidation phase in the short-term basic trend. 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 not called into question, despite technical indicators being indecisive.
Force
0
10
4.8
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Additional analysis
Quotes
NZD/ZAR rating 10.4552 ZAR. The price is lower by -0.01% since the last closing with the lowest point at 10.4511 ZAR and the highest point at 10.4674 ZAR. The deviation from the price is +0.04% for the low point and -0.12% for the high point.10.4511
10.4674
10.4552
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 HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of NZD/ZAR in Daily shows a strongly overall bullish trend. 85.71% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages indicate this trend is showing signs of running out of steam. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 4 are bullish, 9 are neutral and 5 are bearish. The Central Indicators scanner found this result concerning these indicators:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : Daily
Near support of triangle
Type : Bullish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects these signals that could have an impact on the current short-term trend:
Bullish harami
Type : Bullish
Timeframe : Daily
Bullish harami cross
Type : Bullish
Timeframe : Daily
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 9.9732 | 10.1985 | 10.4359 | 10.4552 | 10.7355 | 10.9264 | 11.0759 |
| Change (%) | -4.61% | -2.46% | -0.18% | - | +2.68% | +4.51% | +5.94% |
| Change | -0.4820 | -0.2567 | -0.0193 | - | +0.2803 | +0.4712 | +0.6207 |
| Level | Major | Intermediate | Major | - | Intermediate | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.2612 | 10.3553 | 10.4056 | 10.4997 | 10.5500 | 10.6441 | 10.6944 |
| Camarilla | 10.4163 | 10.4295 | 10.4428 | 10.4560 | 10.4692 | 10.4825 | 10.4957 |
| Woodie | 10.2394 | 10.3444 | 10.3838 | 10.4888 | 10.5282 | 10.6332 | 10.6726 |
| Fibonacci | 10.3553 | 10.4104 | 10.4445 | 10.4997 | 10.5548 | 10.5889 | 10.6441 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.0411 | 10.1771 | 10.3129 | 10.4489 | 10.5847 | 10.7207 | 10.8565 |
| Camarilla | 10.3740 | 10.3989 | 10.4238 | 10.4487 | 10.4736 | 10.4985 | 10.5235 |
| Woodie | 10.0410 | 10.1771 | 10.3128 | 10.4489 | 10.5846 | 10.7207 | 10.8564 |
| Fibonacci | 10.1771 | 10.2809 | 10.3451 | 10.4489 | 10.5527 | 10.6169 | 10.7207 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.4111 | 9.7363 | 10.0925 | 10.4177 | 10.7739 | 11.0991 | 11.4553 |
| Camarilla | 10.2613 | 10.3238 | 10.3862 | 10.4487 | 10.5112 | 10.5736 | 10.6361 |
| Woodie | 9.4266 | 9.7441 | 10.1080 | 10.4255 | 10.7894 | 11.1069 | 11.4708 |
| Fibonacci | 9.7363 | 9.9966 | 10.1574 | 10.4177 | 10.6780 | 10.8388 | 11.0991 |
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): | 52.93 | |
| MACD (12,26,9): | 0.0537 | |
| Directional Movement: | 1.2501 | |
| AROON (14): | -50.0000 | |
| DEMA (21): | 10.5338 | |
| Parabolic SAR (0,02-0,02-0,2): | 10.3187 | |
| Elder Ray (13): | -0.0142 | |
| Super Trend (3,10): | 10.3067 | |
| Zig ZAG (10): | 10.4537 | |
| VORTEX (21): | 1.0546 | |
| Stochastique (14,3,5): | 37.88 | |
| TEMA (21): | 10.5197 | |
| Williams %R (14): | -67.12 | |
| Chande Momentum Oscillator (20): | -0.2137 | |
| Repulse (5,40,3): | -0.3178 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.1175 | |
| Courbe Coppock: | 0.82 |
| MA7: | 10.4617 | |
| MA20: | 10.5027 | |
| MA50: | 10.2595 | |
| MA100: | 10.2110 | |
| MAexp7: | 10.4733 | |
| MAexp20: | 10.4485 | |
| MAexp50: | 10.3389 | |
| MAexp100: | 10.2890 | |
| Price / MA7: | -0.06% | |
| Price / MA20: | -0.45% | |
| Price / MA50: | +1.91% | |
| Price / MA100: | +2.39% | |
| Price / MAexp7: | -0.17% | |
| Price / MAexp20: | +0.06% | |
| Price / MAexp50: | +1.12% | |
| Price / MAexp100: | +1.62% |
Quotes :
-
Real time data
-
Forex
This 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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