Technical analytics

USDZAR market technical outlook

Daily chart:

Upward technical correction of the pair continues in direction of middle Bollinger band (14.9681), where we have potential mid-term offer zone.

H4-chart:

We can observe tangible growth of ADX indicator trending pressure at the area of local resistance 14.7235 (upper Bollinger band), that also speaks for scenario of this level break and further upward movement towards 14.9681.

H1-chart:

Upper Bollinger band is broken being a sign of further growth of the quotes. Optimal zone for long-trades today is middle Bollinger band (14.6657).

Expectations:

Downward pullback to 14.6657 and then growth in direction 14.7235 and 14.9681.

Trading recommendations:

Longs from 14.6657 to 14.7235 and 14.9681.

 

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