NZD/ZAR - 1H - Technical analysis published on 03/06/2023 (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
56%
6%
39%
My opinion
Bearish under 11.3148 ZAR
My targets
11.2741 ZAR (-0.0122)
11.2512 ZAR (-0.0351)
My analysis
NZD/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 11.3148 ZAR. The next support located at 11.2741 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 11.2512 ZAR. Below this support, sellers could then target 11.0759 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.
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
4.5
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
NZD/ZAR rating 11.2863 ZAR. The price registered a decrease of -0.02% on the session and was traded between 11.2587 ZAR and 11.3130 ZAR over the period. The price is currently at +0.25% from its lowest and -0.24% from its highest.11.2587
11.3130
11.2863
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
Here is a more detailed summary of the historical variations registered by NZD/ZAR:
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 NZD/ZAR indicates that the overall trend is strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
The technical indicators are bullish. There is still some doubt about the price increase.
The Central Indicators scanner specialised in technical indicators, has not detected anything further.
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Black evening star
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 11.0759 | 11.2512 | 11.2741 | 11.2863 | 11.3148 | 11.3453 | 11.4058 |
| Change (%) | -1.86% | -0.31% | -0.11% | - | +0.25% | +0.52% | +1.06% |
| Change | -0.2104 | -0.0351 | -0.0122 | - | +0.0285 | +0.0590 | +0.1195 |
| Level | Major | Major | Intermediate | - | Intermediate | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.1225 | 11.1811 | 11.2347 | 11.2933 | 11.3469 | 11.4055 | 11.4591 |
| Camarilla | 11.2576 | 11.2678 | 11.2781 | 11.2884 | 11.2987 | 11.3090 | 11.3193 |
| Woodie | 11.1201 | 11.1799 | 11.2323 | 11.2921 | 11.3445 | 11.4043 | 11.4567 |
| Fibonacci | 11.1811 | 11.2239 | 11.2504 | 11.2933 | 11.3361 | 11.3626 | 11.4055 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.0505 | 11.1451 | 11.2167 | 11.3113 | 11.3829 | 11.4775 | 11.5491 |
| Camarilla | 11.2427 | 11.2579 | 11.2732 | 11.2884 | 11.3036 | 11.3189 | 11.3341 |
| Woodie | 11.0391 | 11.1394 | 11.2053 | 11.3056 | 11.3715 | 11.4718 | 11.5377 |
| Fibonacci | 11.1451 | 11.2086 | 11.2478 | 11.3113 | 11.3748 | 11.4140 | 11.4775 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.6351 | 10.8211 | 11.0832 | 11.2692 | 11.5313 | 11.7173 | 11.9794 |
| Camarilla | 11.2221 | 11.2632 | 11.3042 | 11.3453 | 11.3864 | 11.4275 | 11.4685 |
| Woodie | 10.6732 | 10.8401 | 11.1213 | 11.2882 | 11.5694 | 11.7363 | 12.0175 |
| Fibonacci | 10.8211 | 10.9923 | 11.0980 | 11.2692 | 11.4404 | 11.5461 | 11.7173 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 45.30 | |
| MACD (12,26,9): | -0.0066 | |
| Directional Movement: | 1.4218 | |
| AROON (14): | 50.0000 | |
| DEMA (21): | 11.2802 | |
| Parabolic SAR (0,02-0,02-0,2): | 11.2582 | |
| Elder Ray (13): | 0.0016 | |
| Super Trend (3,10): | 11.3447 | |
| Zig ZAG (10): | 11.2829 | |
| VORTEX (21): | 0.9695 | |
| Stochastique (14,3,5): | 69.12 | |
| TEMA (21): | 11.2820 | |
| Williams %R (14): | -36.92 | |
| Chande Momentum Oscillator (20): | 0.0084 | |
| Repulse (5,40,3): | 0.0275 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0115 | |
| Courbe Coppock: | 0.05 |
| MA7: | 11.3269 | |
| MA20: | 11.3041 | |
| MA50: | 11.0848 | |
| MA100: | 10.9019 | |
| MAexp7: | 11.2867 | |
| MAexp20: | 11.2900 | |
| MAexp50: | 11.3048 | |
| MAexp100: | 11.3190 | |
| Price / MA7: | -0.36% | |
| Price / MA20: | -0.16% | |
| Price / MA50: | +1.82% | |
| Price / MA100: | +3.53% | |
| Price / MAexp7: | +0.00% | |
| Price / MAexp20: | -0.03% | |
| Price / MAexp50: | -0.16% | |
| Price / MAexp100: | -0.29% |
Quotes :
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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
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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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