USD/ZAR forecast South African Rand on May 15 — 19, 2017


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Currency pair US Dollar to South African Rand USD/ZAR completes the trading week at 13.4285. The pair is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an upward trend in the US Dollar South African Rand pair. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the level of 13.3000, from which it is expected to attempt an increase and further development of the bullish trend for the US dollar pair South African Rand near the level of 14.0000.

USD/ZAR forecast South African Rand on May 15 — 19, 2017

USD/ZAR forecast South African Rand on May 15 — 19, 2017

Earlier, a strong signal was received for purchases of the US dollar pair South African Rand, due to the intersection of the signal lines at the level of 13.4200. The cancellation of the growth of the quotes of the pair will be a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes below the area of 12.9700, which will indicate a change in the upward trend in favor of the downward trend. Expect to accelerate the growth of quotations USD/ZAR stands with the breakdown of the local maximum area at 13.8000.


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