| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Buy | Buy |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇒ | ⇗ |
The USD/ZAR exchange rate has been trading within the rising wedge pattern since the beginning of February. As apparent on the chart, the rate has already reversed south from the upper wedge line at 15.15.
From a theoretical point of view, it is expected, that the currency pair goes downwards to the lower pattern boundary located circa the 14.50 mark. If the given pattern holds, it is likely, that the general direction could remain north.
However, if the given pattern does not holds, it is expected, that a breakout south could occur within the following tradign sessions, and the rate could reach the Fibonacci 38.20% retracement at 14.06.