Londinia Opportunities Analyses - 12/20/2024 (GMT) EUR/ZAR - 1H
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
- FX/Indices
- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
67%
0%
33%
My opinion
Bullish above 19.0121 ZAR
My targets
19.2115 ZAR (+0.1102)
19.3247 ZAR (+0.2234)
My analysis
The bullish trend is currently very strong on EUR/ZAR. As long as the price remains above the support at 19.0121 ZAR, you could try to benefit from the boom. The first bullish objective is located at 19.2115 ZAR. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 19.3247 ZAR as an objective. Crossing it would then enable buyers to target 19.5269 ZAR. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.2
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Additional analysis
Quotes
EUR/ZAR rating 19.1013 ZAR. The price registered an increase of +0.08% on the session with the lowest point at 19.0781 ZAR and the highest point at 19.1031 ZAR. The deviation from the price is +0.12% for the low point and -0.01% for the high point.19.0781
19.1031
19.1013
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
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
A technical analysis in 1H of this EUR/ZAR chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 12 technical indicators on 18 studied are currently positioned bullish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Pivot points : price is over resistance 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, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 18.9285 | 19.0121 | 19.0941 | 19.1013 | 19.2115 | 19.5269 | 20.0321 |
| Change (%) | -0.90% | -0.47% | -0.04% | - | +0.58% | +2.23% | +4.87% |
| Change | -0.1728 | -0.0892 | -0.0072 | - | +0.1102 | +0.4256 | +0.9308 |
| Level | Minor | Intermediate | Minor | - | Intermediate | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.7487 | 18.8374 | 18.9620 | 19.0507 | 19.1753 | 19.2640 | 19.3886 |
| Camarilla | 19.0278 | 19.0474 | 19.0670 | 19.0865 | 19.1061 | 19.1256 | 19.1452 |
| Woodie | 18.7666 | 18.8464 | 18.9799 | 19.0597 | 19.1932 | 19.2730 | 19.4065 |
| Fibonacci | 18.8374 | 18.9189 | 18.9693 | 19.0507 | 19.1322 | 19.1826 | 19.2640 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 17.9391 | 18.2183 | 18.4923 | 18.7715 | 19.0455 | 19.3247 | 19.5987 |
| Camarilla | 18.6141 | 18.6648 | 18.7155 | 18.7662 | 18.8169 | 18.8676 | 18.9183 |
| Woodie | 17.9364 | 18.2170 | 18.4896 | 18.7702 | 19.0428 | 19.3234 | 19.5960 |
| Fibonacci | 18.2183 | 18.4297 | 18.5602 | 18.7715 | 18.9829 | 19.1134 | 19.3247 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.0392 | 18.3502 | 18.7209 | 19.0319 | 19.4026 | 19.7136 | 20.0843 |
| Camarilla | 18.9042 | 18.9667 | 19.0292 | 19.0917 | 19.1542 | 19.2167 | 19.2792 |
| Woodie | 18.0692 | 18.3651 | 18.7509 | 19.0468 | 19.4326 | 19.7285 | 20.1143 |
| Fibonacci | 18.3502 | 18.6106 | 18.7715 | 19.0319 | 19.2923 | 19.4532 | 19.7136 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 63.19 | |
| MACD (12,26,9): | 0.0290 | |
| Directional Movement: | 9.9487 | |
| AROON (14): | 35.7142 | |
| DEMA (21): | 19.0834 | |
| Parabolic SAR (0,02-0,02-0,2): | 19.1395 | |
| Elder Ray (13): | 0.0037 | |
| Super Trend (3,10): | 18.9799 | |
| Zig ZAG (10): | 19.0849 | |
| VORTEX (21): | 1.1159 | |
| Stochastique (14,3,5): | 58.98 | |
| TEMA (21): | 19.0937 | |
| Williams %R (14): | -32.29 | |
| Chande Momentum Oscillator (20): | 0.0777 | |
| Repulse (5,40,3): | 0.1481 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0210 | |
| Courbe Coppock: | 1.02 |
| MA7: | 18.8302 | |
| MA20: | 18.9462 | |
| MA50: | 19.0311 | |
| MA100: | 19.3357 | |
| MAexp7: | 19.0741 | |
| MAexp20: | 19.0461 | |
| MAexp50: | 18.9962 | |
| MAexp100: | 18.9356 | |
| Price / MA7: | +1.44% | |
| Price / MA20: | +0.82% | |
| Price / MA50: | +0.37% | |
| Price / MA100: | -1.21% | |
| Price / MAexp7: | +0.14% | |
| Price / MAexp20: | +0.29% | |
| Price / MAexp50: | +0.55% | |
| Price / MAexp100: | +0.88% |
Quotes :
-
Real time data
-
Forex
News
Don't forget to follow the news on EUR/ZAR. At the time of publication of this analysis, the latest news was as follows:
EUR/ZAR To Remain Weak