20.06.202213:58 Forex Analysis & Reviews: Trading plan for USDZAR for June 20, 2022

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

Technical outlook:

USDZAR has risen through the 16.08 intraday high on Monday after having recovered from the $15.16 lows registered on June 09, 2022. The currency pair is seen to be trading close to 16.00 at this point of writing and is expected to rally towards the 17.00-10 zone going forward. Bulls will be poised to hold prices above the 14.40 initial support to keep the structure intact.

USDZAR has been broadly unfolding a larger degree countertrend rally since the last year, having printed lows around the 13.37 mark. The first wave within the corrective phase terminated through the 16.35 mark, which is also the 0.50 Fibonacci retracement of the larger degree downswing (not seen here completely).

USDZAR completed its second wave around the 14.40 levels, which is the interim support now. If the above-proposed structure holds well, bulls are on their way to terminate the last leg higher towards 17.00-10, which is the Fibonacci 0.618 retracement of the above downswing (19.30 through 13.37 levels). A high probability remains for a bearish turn thereafter.

Trading plan:

Potential rally through 17.10 against 15.10

Good luck!

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.