USD/ZAR - 1H - Technical analysis published on 04/17/2024 (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:
Bullish
Underlying:
Strongly bullish
Technical indicators
39%
28%
33%
My opinion
Bullish above 18.9524 ZAR
My targets
19.0818 ZAR (+0.0466)
19.3131 ZAR (+0.2779)
My analysis
The basic bullish trend is very strong on USD/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 18.9524 ZAR. Crossing the first resistance at 19.0818 ZAR would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 19.3131 ZAR as an objective. Crossing it would then enable buyers to target 19.5244 ZAR. Caution, a return to below 18.9524 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.
Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.
Force
0
10
5.7
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Additional analysis
Quotes
The USD/ZAR rating is 19.0352 ZAR. On the day, this instrument lost -0.02% and was traded between 18.9177 ZAR and 19.1077 ZAR over the period. The price is currently at +0.62% from its lowest and -0.38% from its highest.18.9177
19.1077
19.0352
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
A study of price movements over other periods shows the following variations:
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 LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of USD/ZAR indicates that the overall trend is strongly bullish. The signals given by moving averages are 89.29% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
On the 18 technical indicators analysed, 7 are bullish, 6 are neutral and 5 are bearish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Ichimoku : price is over the cloud
Type : Bullish
Timeframe : 1 hour
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:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
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 | 18.7679 | 18.8477 | 18.9524 | 19.0352 | 19.0818 | 19.3131 | 19.5244 |
| Change (%) | -1.40% | -0.99% | -0.43% | - | +0.24% | +1.46% | +2.57% |
| Change | -0.2673 | -0.1875 | -0.0828 | - | +0.0466 | +0.2779 | +0.4892 |
| Level | Minor | Minor | Minor | - | 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 | 18.7972 | 18.8746 | 18.9571 | 19.0345 | 19.1170 | 19.1944 | 19.2769 |
| Camarilla | 18.9956 | 19.0103 | 19.0249 | 19.0396 | 19.0543 | 19.0689 | 19.0836 |
| Woodie | 18.7998 | 18.8759 | 18.9597 | 19.0358 | 19.1196 | 19.1957 | 19.2795 |
| Fibonacci | 18.8746 | 18.9357 | 18.9734 | 19.0345 | 19.0956 | 19.1333 | 19.1944 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 17.9620 | 18.1871 | 18.5284 | 18.7535 | 19.0948 | 19.3199 | 19.6612 |
| Camarilla | 18.7139 | 18.7659 | 18.8178 | 18.8697 | 18.9216 | 18.9735 | 19.0255 |
| Woodie | 18.0201 | 18.2162 | 18.5865 | 18.7826 | 19.1529 | 19.3490 | 19.7193 |
| Fibonacci | 18.1871 | 18.4035 | 18.5371 | 18.7535 | 18.9699 | 19.1035 | 19.3199 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 17.7435 | 18.1242 | 18.4848 | 18.8655 | 19.2261 | 19.6068 | 19.9674 |
| Camarilla | 18.6414 | 18.7094 | 18.7774 | 18.8453 | 18.9133 | 18.9812 | 19.0492 |
| Woodie | 17.7334 | 18.1192 | 18.4747 | 18.8605 | 19.2160 | 19.6018 | 19.9573 |
| Fibonacci | 18.1242 | 18.4074 | 18.5824 | 18.8655 | 19.1487 | 19.3237 | 19.6068 |
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): | 50.62 | |
| MACD (12,26,9): | -0.0001 | |
| Directional Movement: | -3.4142 | |
| AROON (14): | -14.2857 | |
| DEMA (21): | 19.0275 | |
| Parabolic SAR (0,02-0,02-0,2): | 19.0766 | |
| Elder Ray (13): | -0.0103 | |
| Super Trend (3,10): | 18.9599 | |
| Zig ZAG (10): | 19.0151 | |
| VORTEX (21): | 0.9952 | |
| Stochastique (14,3,5): | 51.39 | |
| TEMA (21): | 19.0223 | |
| Williams %R (14): | -38.79 | |
| Chande Momentum Oscillator (20): | -0.0446 | |
| Repulse (5,40,3): | 0.1211 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0013 | |
| Courbe Coppock: | 0.11 |
| MA7: | 18.8410 | |
| MA20: | 18.8367 | |
| MA50: | 18.9040 | |
| MA100: | 18.8194 | |
| MAexp7: | 19.0255 | |
| MAexp20: | 19.0272 | |
| MAexp50: | 19.0049 | |
| MAexp100: | 18.9408 | |
| Price / MA7: | +1.03% | |
| Price / MA20: | +1.05% | |
| Price / MA50: | +0.69% | |
| Price / MA100: | +1.15% | |
| Price / MAexp7: | +0.05% | |
| Price / MAexp20: | +0.04% | |
| Price / MAexp50: | +0.16% | |
| Price / MAexp100: | +0.50% |
Quotes :
-
Real time data
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Forex
News
The last news published on USD/ZAR at the time of the generation of this analysis was as follows:
-
USD/ZAR Forecast April 12, 2023
-
USD/ZAR Forecast March 27, 2023
-
USD/ZAR Forecast February 22, 2023
-
USD/ZAR Forecast November 11, 2022
-
USD/ZAR Forecast November 7, 2022
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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