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    Thread: NZD/ZAR

    1. #1 Collapse Post
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      Default NZD/ZAR

      NZD/ZAR is located in a horizontal channel. At present, the price does break through the support level of this channel. From the top to the bottom border has been a sharp fall, which could mean a weakening of the strength of bears. ADX Indicator shows that the bearish movement went into hibernation. RSI is in oversold level, which means quick price reversal.

      [IMG][/IMG]


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      NZD/ZAR is in a horizontal corridor. The price rebounded from the resistance level, and rapidly began to fall, but the drop was left near the support level of the beginning of the flat. At the moment, the price starts bullish way north. ADX indicator is not giving any signals, but the RSI has already started to move up.

      [IMG][/IMG]


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      NZDZAR, price now is at 8.5828 area. Price is already above the 3 alligators teeth. It signal bullish trend, as long the price will stay above the upper part of the box, it can reach 8.6575, 8.7450 and all the way towards 8.7450 area.
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      NZDZAR, price is now at 8.5674 level and price is below the 3 alligators teeth which is bearish in nature. But as long the price wont cross the support line then there still enough room for a climb to the upside. A price push towards 8.5750 area can signify more upward pressure for this pair. Let see if the price can get there...
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