Daily Market Comment – Dollar edges up, stocks muted in cautious start to week

Posted on March 30, 2020 at 8:32 am GMT

Stocks steady somewhat after Friday’s dip Dollar heads higher after worst week since 2009 Oil skids again; Brent hits 17-year low as world economy shuts down US stock futures attempt to rebound; risk of increased volatility Wall Street was unable to extend its winning streak to a fourth day on Friday but still managed to post its strongest week since 2009. Stocks had been steadily rising after a big gap lower at the open but went into reverse after the [..]


Technical Analysis – USDZAR posts ‘death cross’ in medium term downtrend

Posted on January 17, 2020 at 11:21 am GMT

USDZAR peaked during the summer after touching 15.50 and has been posting consecutive lower highs and lower lows on the daily chart ever since. What’s more, the 50-day simple moving average (SMA) recently crossed below the 200-day one, completing a so-called ‘death cross’, which is another bearish sign. The picture is therefore negative, and for that to change, the bulls would need to push the price above 14.85. Momentum oscillators – the RSI and the MACD – are mixed, and [..]


Technical Analysis – USDZAR still in an uptrend, but move above 15.50 needed for validation

Posted on October 7, 2019 at 2:52 pm GMT

USDZAR remains in a broader uptrend, with the price action on the daily chart still characterized by a series of higher peaks and higher troughs. The upward sloping 50-day simple moving average (SMA) reinforces this notion. That said, a clear break above 15.50 is needed to signal that this uptrend is back in play. Short-term momentum oscillators concur, and suggest that the latest move higher may continue for now. The RSI rebounded off its 50 level and is pointing higher, [..]


Technical Analysis – USDZAR rebound stalls, but picture still positive

Posted on September 26, 2019 at 1:27 pm GMT

USDZAR touched a one-year high in mid-August, before retreating somewhat. Still, the pair remains in a medium-term uptrend, characterized by higher highs and higher lows, something also supported by the steepening 50-day simple moving average (SMA). Short-term oscillators, however, paint an entirely neutral picture. The RSI is flat near its neutral 50 zone, while the MACD is slightly above its red trigger line but near its zero level. If buyers remain in charge, they must first overcome the 15.07 area, [..]


Technical Analysis – USDZAR records fresh 11-month high

Posted on August 20, 2019 at 3:21 pm GMT

USDZAR’s one-month rally up from the five-month low of 13.808 seems to have lost steam moving slightly sideways after recording an eleven-month high at 15.492. Despite the 50-, 100- and 200-period simple moving averages (SMAs) reflecting a bullish picture as they rise on the four-hour chart, the MACD and RSI warn of a possible short-term correction. Both are in positive regions with the MACD slightly below its trigger line while the RSI heads towards the neutral level. If the bulls pick [..]


Technical Analysis – USDZAR rebounds, but still neutral overall

Posted on July 31, 2019 at 2:28 pm GMT

USDZAR rebounded substantially in recent days, to challenge the 14.31 zone and the 50-day simple moving average (SMA), before retreating somewhat. There is currently no clear trending structure in place. For that to change, either the bears would need to push for a new low below 13.80, or the bulls would have to lift the pair above the 50-day SMA, turning the bias slightly more positive. Short-term momentum oscillators concur, as neither the RSI nor the MACD is providing a [..]


Technical Analysis – USDZAR reverses lower as bears retake the reins

Posted on July 4, 2019 at 1:55 pm GMT

USDZAR has recorded significant losses in recent weeks, moving back below its 50- and 200-day simple moving averages (SMAs) to record a lower low on the daily chart. The picture therefore seems to be shifting to negative, though a clear break below the 13.86 – 13.79 zone is needed to confirm that. Looking at momentum oscillators, the RSI endorses the negative picture as it is just above 30 and pointing down, while the MACD is also below its red trigger [..]


Technical Analysis – USDZAR posts new high, turns neutral in medium term

Posted on April 4, 2019 at 12:48 pm GMT

USDZAR recovered significant ground in recent months, climbing above both its 50- and 200-day simple moving averages (SMAs) to post a new five-month high of 14.74 last week. Even though the pair retreated a little afterwards, the new high at 14.74 has nullified the previous trending structure of lower peaks and lower troughs, and suggests that the medium-term outlook is now neutral. Momentum oscillators concur with that assessment, as the RSI is flat near its neutral 50 level, while the [..]


Technical Analysis – USDZAR trades below downtrend line, outlook still negative

Posted on February 21, 2019 at 1:11 pm GMT

USDZAR continues to trade in a downward pattern, with the price structure consisting of lower highs and lower lows below a downtrend line drawn from the September highs. Moreover, the 50-day simple moving averages (SMA) looks ready to cross below the 200-day one, which would mark a so-called ‘death cross’ – a bearish sign. Momentum oscillators also paint a cautiously negative picture, with the RSI looking ready to cross back below its neutral 50 line, while the MACD may also [..]


Technical Analysis – USDZAR remains negative, may post “death cross” soon

Posted on February 1, 2019 at 12:05 pm GMT

USDZAR has continued to print lower highs and lower lows on the daily chart, keeping the medium-term picture decisively negative. Enhancing this view, price action is taking place firmly below both the 50- and 200-day simple moving averages (SMAs). Notice that the two seem set to meet soon, and if the 50-day falls below the 200-day one, that would mark a so-called “death cross”. Short-term momentum oscillators are inconclusive but support a broadly bearish picture. The RSI is near its [..]

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