FX.co ★ USD/ZAR

USD/ZAR. Hello. The Dollar/Rand ended the current week with a bullish candle, while the pair remains within the boundaries of the global trend channel. However, it just can't seem to bounce off its lower boundary, despite constant attempts by the bulls. On a smaller time frame, the hourly chart, indicators within the correction canceled the buy signal, but indicated a sell signal, and towards the close, it returned to the bullish zone of the Bollinger channel. So, there is a possibility of continuing the movement to the north at the beginning of next week, with an approximate target of 16.550-600 in the short term perspective. On the 4-hour chart, indicators remain fully in favor of further movement in the northern direction, therefore, buys are a higher priority for me. There is also a possibility of a decrease within a pullback, but judging by the recent candles, we should see a continuation of the rise in the first half of next week. However, for now, I am only considering a local move to the north, and then we will see.