Analityka techniczna

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.

H4-chart:

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

H1-chart:

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.

Expectations:

Decline towards 14.5148.

Trading recommendations:

  1. Shorts to 14.5148.

  2. Longs from 14.5148.

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