Analityka techniczna

USDZAR market technical outlook

Daily chart:

We note weak potential of ADX indicator suggesting low probability of break of dynamic support 14.6587 (lower Bollinger band). Thus the pair will get either upward bounce in direction 15.0035 or will switch to flat.


Locally we also note low activity of ADX. Thus the main expectation from the market is flat inside lower Bollinger bands (14.7007-14.8421).


Intraday trading range supposedly will match the scope of Bollinger bands (14.7243-14.8102), which reside in a stable sideways trend on the back of weal ADX. 


Flat in the 14.7243-14.8102.

Trading recommendations:

Short-term trades to both sides inside the 14.7243-14.8102 channel.