empty
28.06.2022 06:51 AM
Trading plan for USDZAR on June 28, 2022

This image is no longer relevant

Technical outlook:

USDZAR has been trading sideways for the last two trading sessions as prices are oscillating within a tight range between 15.8200 and 15.9200. The currency pair is seen to be trading close to 15.8410 at this point in writing and is expected to push through the 17.0800-1000 area in the next several trading sessions.

USDZAR has been developing a larger-degree counter-trend rally since January 2021 after printing lows around 13.3700 as marked on the daily chart here. The currency has terminated its first and second waves with the corrective phase around 16.3600 and 14.4000. If the above structure holds well, we should see prices stay above 14.4000 and push through the 17.0800 highs.

USDZAR is within its last leg rally since the 14.4000 lows and has potentially carved a higher low at around 15.1600 in the past few trading sessions. Bulls should remain poised to push prices towards 17.0800 at least until an interim low at around 15.1600 remains intact. Traders might be preparing to hold long positions against 15.1600 for now.

Trading plan:

Potential rally towards 17.0800 mark against 15.1600

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

How to Trade the GBP/USD Pair on April 18? Simple Tips and Trade Analysis for Beginners

Analysis of Thursday's Trades 1H Chart of GBP/USD The GBP/USD pair continued to trade higher throughout Thursday. Even at its peak levels, the British pound shows no intention of correcting

Paolo Greco 06:51 2025-04-18 UTC+2

How to Trade the EUR/USD Pair on April 18? Simple Tips and Trade Analysis for Beginners

Analysis of Thursday's Trades 1H Chart of EUR/USD The EUR/USD currency pair continued trading within a sideways channel on Thursday, as shown on the hourly timeframe chart above. The current

Paolo Greco 06:51 2025-04-18 UTC+2

Trading Recommendations and Analysis for GBP/USD on April 18: The British Pound Is Losing Steam

The GBP/USD currency pair continued its upward movement on Thursday, trading near multi-year highs. Despite the lack of significant events in the U.S. or the U.K. (unlike Wednesday), the market

Paolo Greco 03:48 2025-04-18 UTC+2

Trading Recommendations and Analysis for EUR/USD on April 18: The ECB Failed to Move the Market

The EUR/USD currency pair continued to trade sideways on Thursday. While previously it had been moving within a range between 1.1274 and 1.1391, on Thursday, it was stuck

Paolo Greco 03:48 2025-04-18 UTC+2

GBP/USD: Trading Plan for the U.S. Session on April 17th (Review of Morning Trades)

In my morning forecast, I focused on the 1.3239 level and planned to base entry decisions around it. Let's look at the 5-minute chart and see what happened. A rise

Miroslaw Bawulski 18:53 2025-04-17 UTC+2

EUR/USD: Trading Plan for the U.S. Session on April 17th (Review of Morning Trades)

In my morning forecast, I highlighted the 1.1341 level and planned to base my market entry decisions on it. Let's look at the 5-minute chart and analyze what happened

Miroslaw Bawulski 18:50 2025-04-17 UTC+2

GBP/USD: Trading Plan for the U.S. Session on April 16th (Review of the Morning Trades)

In my morning forecast, I highlighted the 1.3247 level as a reference point for market entry decisions. Let's take a look at the 5-minute chart and analyze what happened

Miroslaw Bawulski 18:31 2025-04-16 UTC+2

EUR/USD: Trading Plan for the U.S. Session on April 16th (Review of the Morning Trades)

In my morning forecast, I highlighted the 1.1341 level as a key point for market entry decisions. Let's take a look at the 5-minute chart and analyze what happened there

Miroslaw Bawulski 18:28 2025-04-16 UTC+2

How to Trade the GBP/USD Pair on April 16? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of GBP/USD Throughout Tuesday, the GBP/USD pair continued its upward movement. As we can see, the British currency doesn't need any particular reason

Paolo Greco 07:03 2025-04-16 UTC+2

How to Trade the EUR/USD Pair on April 16? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of EUR/USD On Tuesday, the EUR/USD currency pair pulled back slightly, which can be considered a purely technical correction. Yesterday — and generally —

Paolo Greco 07:03 2025-04-16 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.