Technical analytics

USDZAR market technical outlook

USD/ZAR

Daily chart:

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

H4-chart:

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.

H1-chart:

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.

Expectations:

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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