Technical analytics

USDZAR market technical outlook


Daily chart:

Currency pair is about to test 15.2077 mark at the upper Bollinger band. Most likely the bulls will take the chance.


We note active trend state of ADX indicator in favor of further upward scenario. This almost guarantees testing of 15.2077 making possible further break of buyers.


On hourly chart upper Bollinger band was broken sending a signal of the quotes’ growth extension. It’s reasonable to enter long trades from the middle Bollinger band (15.1162). We can hold positions toward 15.2077.


Downward pullback to 15.1162 and then growth in direction 15.2077.

Trading recommendations:

Longs from 15.1162 to 15.2077.


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