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)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Slightly bearish

Technical indicators

56%

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

2.3

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 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.

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:

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:

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:

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:

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

Price

	S3	S2	S1	Price	R1	R2	R3
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
Standard	17.7575	17.8388	17.8856	17.9669	18.0137	18.0950	18.1418
Camarilla	17.8973	17.9090	17.9208	17.9325	17.9442	17.9560	17.9677
Woodie	17.7404	17.8302	17.8685	17.9583	17.9966	18.0864	18.1247
Fibonacci	17.8388	17.8877	17.9179	17.9669	18.0158	18.0460	18.0950

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	17.5014	17.8940	18.1400	18.5326	18.7786	19.1712	19.4172
Camarilla	18.2103	18.2688	18.3274	18.3859	18.4444	18.5030	18.5615
Woodie	17.4280	17.8574	18.0666	18.4960	18.7052	19.1346	19.3438
Fibonacci	17.8940	18.1380	18.2887	18.5326	18.7766	18.9273	19.1712

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	17.3754	17.7015	18.2468	18.5729	19.1182	19.4443	19.9896
Camarilla	18.5525	18.6323	18.7122	18.7921	18.8720	18.9519	19.0317
Woodie	17.4850	17.7563	18.3564	18.6277	19.2278	19.4991	20.0992
Fibonacci	17.7015	18.0344	18.2400	18.5729	18.9058	19.1114	19.4443

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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