Londinia Opportunities Analyses - 11/21/2024 (GMT) CAD/ZAR - 1H

- ZAR (-)
- Real time data - Forex
Type: Forex
Ticker: CADZAR
ISIN:

Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
  • FX/Indices
  • Timeframe : 1H
  • - Analysis generated on
  • Status : INVALID

Summary of the analysis

Trends
Short term: Strongly bullish
Underlying: Strongly bullish
Technical indicators
72%
11%
17%
My opinion
Bullish above 12.9161 ZAR
My targets
13.0837 ZAR (+0.0912)
13.1252 ZAR (+0.1327)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on CAD/ZAR as long as the price remains well above 12.9161 ZAR. The buyers' bullish objective is set at 13.0837 ZAR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 13.1252 ZAR. If there is any crossing, the next objective would be the resistance located at 13.2931 ZAR. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

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
8

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Additional analysis

Quotes

The CAD/ZAR rating is 12.9925 ZAR. The price registered an increase of +0.15% on the session and was between 12.9568 ZAR and 13.0248 ZAR. This implies that the price is at +0.28% from its lowest and at -0.25% from its highest.

12.9568
13.0248
12.9925

A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.

Central Gaps

Bearish opening

Type : Bearish

Timeframe : Openning



Here is a more detailed summary of the historical variations registered by CAD/ZAR:
The Central Records scanner for higher/lower results shows the following items:

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 LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


Technical analysis of CAD/ZAR in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:

Central Indicators

Moving Average bullish crossovers : AMA50 & AMA100

Type : Bullish

Timeframe : 1 hour



The probability of a further increase is high given the direction of the technical indicators.
The Central Indicators scanner found no further results concerning independent technical indicators.

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:

Central Patterns

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour


Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour



The presence of these Japanese chandelier patterns detected by Central Candlesticks that could impact the current short-term trend were also noted:

Central Candlesticks

Bullish harami cross

Type : Bullish

Timeframe : 1 hour


Doji

Type : Neutral

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 12.7781 12.8583 12.9161 12.9925 12.9959 13.0837 13.1252
Change (%) -1.65% -1.03% -0.59% - +0.03% +0.70% +1.02%
Change -0.2144 -0.1342 -0.0764 - +0.0034 +0.0912 +0.1327
Level Minor Intermediate Intermediate - Intermediate Major Intermediate



Attention could also be paid to pivot points to set price objectives:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard12.844712.879912.926412.961613.008113.043313.0898
Camarilla12.950312.957812.965312.972812.980312.987812.9953
Woodie12.850312.882712.932012.964413.013713.046113.0954
Fibonacci12.879912.911112.930412.961612.992813.012113.0433


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard12.142012.381312.646612.885913.151213.390513.6558
Camarilla12.773112.819412.865712.911912.958213.004413.0507
Woodie12.155012.387812.659612.892413.164213.397013.6688
Fibonacci12.381312.574112.693112.885913.078713.197713.3905


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard12.132912.370112.500512.737712.868113.105313.2357
Camarilla12.529912.563612.597312.631012.664712.698412.7321
Woodie12.079612.343412.447212.711012.814813.078613.1824
Fibonacci12.370112.510512.597212.737712.878112.964813.1053

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): 61.03
MACD (12,26,9): 0.0144
Directional Movement: 16.2117
AROON (14): 85.7143
DEMA (21): 12.9898
Parabolic SAR (0,02-0,02-0,2): 12.9417
Elder Ray (13): 0.0064
Super Trend (3,10): 12.9454
Zig ZAG (10): 12.9863
VORTEX (21): 1.0767
Stochastique (14,3,5): 54.74
TEMA (21): 12.9896
Williams %R (14): -54.73
Chande Momentum Oscillator (20): 0.0184
Repulse (5,40,3): -0.0601
ROCnROLL: 1
TRIX (15,9): 0.0145
Courbe Coppock: 0.47
MA7: 12.9475
MA20: 12.7790
MA50: 12.8057
MA100: 13.0163
MAexp7: 12.9848
MAexp20: 12.9708
MAexp50: 12.9454
MAexp100: 12.9233
Price / MA7: +0.35%
Price / MA20: +1.67%
Price / MA50: +1.46%
Price / MA100: -0.18%
Price / MAexp7: +0.06%
Price / MAexp20: +0.17%
Price / MAexp50: +0.36%
Price / MAexp100: +0.54%

Quotes : - Real time data - Forex