Technical analytics

USDZAR market technical outlook

Daily chart:

Tendency for moderate decline of the quotes in direction of lower Bollinger band (14.4976) persists. ADX indicator remains in a very weak area, therefore market may keep flat tone.


Upward technical correction may reach middle Bollinger band (14.8239), from where correspondingly we can open short-positions towards lower band (14.6353).  


Intraday market dynamics also has low trending potential. Optimal trading tactics is to wait when the pair reaches wide pivot-zone 14.7829-14.8239 and then to go short reckoning on a start of new mid-term downward wave. 


Smooth growth in direction 14.7829-14.8239 and then downward reversal.

Trading recommendations:

Pending shorts from 14.7829-14.8239.