Technical analytics

USDZAR market technical outlook

 Daily chart:

The pair apparently headways to lower Bollinger band (14.2698-14.4289 region). However trending ADX indicator switched to decline suggesting an absence of strong potential, that may drive to pullback towards (15.0000), where the most optimal area for mid-term short-trades resides.


Local market has flat mode. The pair scarcely will leave the 14.5148-14.7288 range (Bollinger bands). 


Bearish inside bar formed from upper Bollinger band is a signal for decline in direction of support 14.5148 (lower Bollinger band). Also there is an unclosed gap (red round mark), that may facilitate downward pullback of the price.


Decline towards 14.5148.

Trading recommendations:

  1. Shorts to 14.5148.

  2. Longs from 14.5148.

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