USD/ZAR

- ZAR (-)

- Real time data - Forex

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Forex
Ticker:	USDZAR
ISIN:

USD/ZAR - 1H - Technical analysis published on 04/17/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

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

5.7

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

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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:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

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

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 - Forex

News

The last news published on USD/ZAR at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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