NOKZAR-BUY strategy Daily chartThe pair seems like going to move higher. The stochastic is positive from low area, and also we got good support at the 1.7750 area.
Strategy BUY @ 1.7860-1.7885 and place SL below 1.7700 and profit order @ 1.8125.
NOKZAR-SELL strategy 4-hourlyIt is not the easiest pair to trade, but a rewarding one when right.
The pair has climbed a lot due to NOK interest rate increase, and adverse USDZAR movement, which was expected, whilst a higher GOLD price.
The idea is that the USDNOK will recover upwards and/or USDZAR will decrease again.
Str
NOKZAR-SELL strategy 4 HourlyExpect some down move for this combination, which is SELL pressure on USDZAR and BUY pressure on USDNOK.
The chances are we may test 1.81 again and perhaps we may reach 1.7750 again for the cross. That is why SELL in combo @ 1.8200-1.8300 and take profit @ 1.7800 when you can.
In USD terms likel
NOKZAR-BUY strategy 4-hourlyThe pair has been pushed down, and now we are at the lower end 1.7400 handle. The chart pattern is shaped suggesting we may see 1.7560 again. This means low USDNOK with a slower lower decline on USDZAR. My view is lowe USDZAR so USDNOK may reach 9.9500 again based on that assumption.
This chart is
NOKZAR- SELL strategy 4-hourlyThe cross suggests that ZAR will strengthen further, and within the channel (down ward) the support lies somewhere 1.7600 which means we see USDZAR around 10-15 big figs lower, and to a lesser extend the USDNOK.
So strategy is SELL USDZAR somewhere between 17.8300-17.8800 and take profit @ 17.6500
NOKZAR- BUY strategy 4 HourlyThe pair provides the information on the relationship between USDZAR and USDNOK movement. The daily chart showed clearly that USDZAR would come under pressure and it explained why USDNOK moved to 10.1100 area quickly.
The 4-hourly is bit overdone and we should see back towards 1.7850 short-term. Th
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Summarizing what the indicators are suggesting.
Oscillators
Neutral
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Oscillators
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Neutral
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Neutral
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Neutral
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Moving Averages
Neutral
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Moving Averages
Neutral
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Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.