FX.co ★ sabrina.fay | USD/ZAR

USD/ZAR. Hello. The Dollar/Rand pair had a pretty good walk to the north yesterday, and today the bullish sentiment is still holding strong. So I continue to look in the northern direction as a more priority option for myself. On the hourly chart, indicators remain fully supportive of further upward movement, with the pair at the activation point of another intraday buying signal, so I am considering the possibility of opening new long positions with an approximate target of 16.750-800. One of the basement indicators currently does not support the development of bullish sentiment, but does not cancel it either. On the 4-hour chart, indicators also favor continued growth, with the pair having updated local highs and attempting to stay above them. The recent candles do not strongly confirm the bullish sentiment, hinting at a reversal, but the scenario of heading south is currently still in question. Although one of the basement indicators here also does not support the bullish sentiment, showing bearish divergences. However, overall, the technical analysis points upwards.