USD/ZAR is currently trading at 18.80, having recently rejected the key resistance level near 19.00, which has acted as a historical ceiling multiple times. Despite the rejection, the pair maintains a clear bullish structure and continues to trade above the Ichimoku cloud (Span A at 18.86 and Span B at 18.48), confirming the dominant upward trend.
The Trend Strength Index (TSI) shows:
TSI(10): 0.64 (approaching overbought)
TSI(20): 0.37
This suggests strong upward momentum in the medium term, though a temporary pullback is expected as short-term momentum cools.
The optimal scenario is a retracement toward the support zone between 17.59 and 16.68, where we could see a new TSI oversold signal, similar to previous bullish continuation setups. This would offer a high-probability entry aligned with the trend, targeting a move back toward the 19.91 swing high, or even further to 21.80, as suggested by the projected extension.
If price breaks below 16.68, the bullish structure would be invalidated, and the setup would no longer be valid.
Trade Setup Summary:
Buy Zone: 17.59 – 16.68 (support area)
Target: 19.91 (resistance)
Stop Loss: Below 16.68
Bias: Bullish while above 16.68
TSI Confirmation: Look for oversold reading at support for ideal entry
The US dollar remains firm on the back of relatively strong macroeconomic data and persistent inflation concerns, keeping rate cut expectations limited. In contrast, the South African rand is under pressure due to political uncertainty, slow growth, and structural fiscal issues. These macro conditions support continued USD strength over ZAR, aligning with the current technical uptrend. Any global risk-off move could further weaken the rand and accelerate bullish continuation on USD/ZAR.
Disclaimer: This content is for educational and informational purposes only. It does not represent financial advice or a recommendation to buy or sell any financial instrument. Trading involves risk, and you should only trade with money you can afford to lose.
The Trend Strength Index (TSI) shows:
TSI(10): 0.64 (approaching overbought)
TSI(20): 0.37
This suggests strong upward momentum in the medium term, though a temporary pullback is expected as short-term momentum cools.
The optimal scenario is a retracement toward the support zone between 17.59 and 16.68, where we could see a new TSI oversold signal, similar to previous bullish continuation setups. This would offer a high-probability entry aligned with the trend, targeting a move back toward the 19.91 swing high, or even further to 21.80, as suggested by the projected extension.
If price breaks below 16.68, the bullish structure would be invalidated, and the setup would no longer be valid.
Trade Setup Summary:
Buy Zone: 17.59 – 16.68 (support area)
Target: 19.91 (resistance)
Stop Loss: Below 16.68
Bias: Bullish while above 16.68
TSI Confirmation: Look for oversold reading at support for ideal entry
The US dollar remains firm on the back of relatively strong macroeconomic data and persistent inflation concerns, keeping rate cut expectations limited. In contrast, the South African rand is under pressure due to political uncertainty, slow growth, and structural fiscal issues. These macro conditions support continued USD strength over ZAR, aligning with the current technical uptrend. Any global risk-off move could further weaken the rand and accelerate bullish continuation on USD/ZAR.
Disclaimer: This content is for educational and informational purposes only. It does not represent financial advice or a recommendation to buy or sell any financial instrument. Trading involves risk, and you should only trade with money you can afford to lose.
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Trading involves substantial risk. Not financial advice
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Trade forex, indices, stocks and metals with up to US$100.000 in company's funding.
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。