- Analytics
- Technical Analysis
USD/ZAR Technical Analysis - USD/ZAR Trading: 2022-02-02
USD/ZAR Technical Analysis Summary
Below 15
Sell Stop
Above 15,9
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Neutral |
| MA(200) | Sell |
| Fractals | Neutral |
| Parabolic SAR | Buy |
| Bollinger Bands | Neutral |
USD/ZAR Chart Analysis
USD/ZAR Technical Analysis
On the daily timeframe, USDZAR: D1 approached the uptrend support line and the 200-day moving average line. They must be broken down before opening a position. A number of technical analysis indicators formed signals for further decline. We do not rule out a bearish movement if USDZAR: D1 falls below the 200-day moving average line, the latest down fractal and the Parabolic signal: 15. This level can be used as an entry point. The initial risk limit is possible above the upper Bollinger band and the last up fractal: 15.9. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal maximum. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders after making a trade can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (15.9) without activating the order (15), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Forex - USD/ZAR
South African Reserve Bank (SARB) raised the rate by 0.25% for the 2nd time in a row. Will the USDZAR quotes descend?
The downward move means the South African rand is strengthening against the US dollar. On January 27, SARB raised the rate to 4% from 3.75%. Core inflation in the Republic of South Africa (SAR) in December 2021 amounted to (Core CPI YOY) 3.4% y/y, while regular inflation was (+5.9%) y/y. Inflation for January will be released on February 16. This week in South Africa were published positive economic data. Central bank lending to the private sector (SARB Private Sector Credit) in December and vehicle sales in January exceeded forecasts. In addition, good foreign trade figures for December and the Absa South Africa Manufacturing PMI for January came out. An additional positive for the South African rand may be an increase in quotations of non-ferrous and precious metals.
- Get Certificate
Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.
