USD/ZAR 4H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
There is a good chance the US Dollar will keep outperforming South African Rand in the future. The currency pair has formed a bullish channel, and most of the daily and weekly technical indicators are pointing north. USD/ZAR is expected to bottom our around 14.10 and start a new bullish wave that is to surpass the Nov 10 high.
Alternatively, in case the bears manage to push the price beneath the rising support line, the sell-off will likely extend down to the Nov 2 low and 200-period SMA at 13.70. Meanwhile, the SWFX market is overcrowded with bears, who take up three thirds of the market, and this is an additional argument in favour of a rally.
© Dukascopy Bank SA
Back to articles

Actual Topics

Thu, 12 Nov 2015 14:38:16 GMT

USD/ZAR 1H Chart: Channel Up

USD/ZAR's bullish trend assumes that the Greenback will continue rallying in the medium term. The price is going to near the supply zone at 14.33/37 in the foreseeable future. According to 4H technical indicators, the attempt to cross it will be unsuccessful. Moreover, 71% of traders are holding short positions at the moment. Nonetheless, favourable outcome is likely to extend

Thu, 12 Nov 2015 07:54:16 GMT

USD/CAD 1H Chart: Channel Down

We hold a negative bias towards USD/CAD in the near term, being that the currency pair has formed a bearish channel. The pattern implies that the upside is limited by the resistance trend-line at 1.3275, while upward correction is to be expected near the lower boundary of the channel at 1.3225, which is also reinforced by the monthly PP and

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.