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USD/ZAR
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 06/20/2024 (GMT)

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  • Timeframe : 1H
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Summary of the analysis

Trends
Short term: Strongly bullish
Underlying: Slightly bearish
Technical indicators
56%
6%
39%
My opinion
Bullish above 18.0466 ZAR
My targets
18.1857 ZAR (+0.1100)
18.2997 ZAR (+0.2240)
My analysis
The current short-term bullish trend is expected to quickly reset the neutral or bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for USD/ZAR as long as the price remains well above 18.0466 ZAR. The buyers' bullish objective is set at 18.1857 ZAR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 18.2997 ZAR. If there is any crossing, the next objective would be the resistance located at 18.5769 ZAR. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 18.1857 ZAR. On this resistance, against the trend traders who would like to go short on USD/ZAR with a bearish signal from their trading strategy, should not hesitate to act.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
2.3

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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15 min. Daily Weekly

Additional analysis

Quotes

The USD/ZAR price is 18.0757 ZAR. On the day, this instrument gained +0.80% and was traded between 17.9300 ZAR and 18.1766 ZAR over the period. The price is currently at +0.81% from its lowest and -0.56% from its highest.

17.9300
18.1766
18.0757

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



Here is a more detailed summary of the historical variations registered by USD/ZAR:
The study of the highest / lowest by the Central Records scanner shows the following results:

Central Records

Near a new LOW record (1 year)

Type : Bearish

Timeframe : Weekly


Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly


Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly



Technical


Technical analysis of USD/ZAR in 1H shows an overall slightly bearish trend. Only 53.57% of the signals given by moving averages are bearish. This slightly bearish trend could quickly be reversed due to the strong bullish signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:

Central Indicators

Bullish price crossover with adaptative moving average 100

Type : Bullish

Timeframe : 1 hour



The technical indicators are bullish. There is still some doubt about the price increase.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Central Indicators

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : 1 hour


Pivot points : price is under support 1

Type : Neutral

Timeframe : Weekly



Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:

Central Patterns

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour


Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour



The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 16.8410 17.9208 18.0466 18.0757 18.1857 18.2997 18.5769
Change (%) -6.83% -0.86% -0.16% - +0.61% +1.24% +2.77%
Change -1.2347 -0.1549 -0.0291 - +0.1100 +0.2240 +0.5012
Level Major Intermediate Minor - Major Intermediate Major



Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard17.757517.838817.885617.966918.013718.095018.1418
Camarilla17.897317.909017.920817.932517.944217.956017.9677
Woodie17.740417.830217.868517.958317.996618.086418.1247
Fibonacci17.838817.887717.917917.966918.015818.046018.0950


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard17.501417.894018.140018.532618.778619.171219.4172
Camarilla18.210318.268818.327418.385918.444418.503018.5615
Woodie17.428017.857418.066618.496018.705219.134619.3438
Fibonacci17.894018.138018.288718.532618.776618.927319.1712


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard17.375417.701518.246818.572919.118219.444319.9896
Camarilla18.552518.632318.712218.792118.872018.951919.0317
Woodie17.485017.756318.356418.627719.227819.499120.0992
Fibonacci17.701518.034418.240018.572918.905819.111419.4443

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): 56.24
MACD (12,26,9): 0.0216
Directional Movement: 6.2292
AROON (14): 35.7143
DEMA (21): 18.0669
Parabolic SAR (0,02-0,02-0,2): 18.0321
Elder Ray (13): 0.0166
Super Trend (3,10): 18.0134
Zig ZAG (10): 18.0795
VORTEX (21): 1.1235
Stochastique (14,3,5): 51.27
TEMA (21): 18.1005
Williams %R (14): -41.34
Chande Momentum Oscillator (20): 0.1076
Repulse (5,40,3): 0.0446
ROCnROLL: 1
TRIX (15,9): 0.0134
Courbe Coppock: 1.39
MA7: 18.2117
MA20: 18.4940
MA50: 18.5838
MA100: 18.7419
MAexp7: 18.0696
MAexp20: 18.0442
MAexp50: 18.0552
MAexp100: 18.1450
Price / MA7: -0.75%
Price / MA20: -2.26%
Price / MA50: -2.73%
Price / MA100: -3.55%
Price / MAexp7: +0.03%
Price / MAexp20: +0.17%
Price / MAexp50: +0.11%
Price / MAexp100: -0.38%

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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Londinia
Londinia AI

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