Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Buy | Buy | Sell |
RSI (14) | Sell | Neutral | Neutral |
Stochastic (5; 3) | Sell | Sell | Sell |
Alligator (13; 8; 5) | Buy | Neutral | Sell |
SAR (0.02; 0.2) | Buy | Buy | Sell |
Aggregate | ⇒ | ⇒ | ⇘ |
On a large scale the US Dollar is trading against the South African Rand in a symmetrical triangle pattern. Meanwhile, the pair has made a recent rebound against the support line of the triangle and formed a channel up pattern, which seems to be nearing its end.
The ascending channel has reached a resistance cluster located from the 13.35 to 13.40 levels. The cluster consists of the weekly and monthly R1s, which are hindering the pair's ascent.
However, the pair is highly likely to rebound, as soon as the upper trend line of the triangle pattern descents, as on September 19 it was located at the 13.40 mark.