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market analysis

【XM Market Analysis】--USD/ZAR Analysis: Lower Trend Amidst Holidays and Thin Forex Volumes

Risk Warning:

The purpose of information release is to warn investors of risks and does not constitute any investment advice. The relevant data and information are from third parties and are for reference only. Investors are requested to verify before use and assume all risks.

Hello everyone, today XM Forex will bring you "【XM Market Analysis】--USD/ZAR Analysis: Lower Trend Amidst Holidays and Thin Forex Volumes". I hope it will be helpful to you! The original content is as follows:

The USD/ZAR has been able to move lower the past few trading sessions, and in early action this morning has sustained lower values, but traders need to be aware low volumes persists because of the holidays.

The USD/ZAR is next to the 18.69000 ratio at the time of this writing. But because it is a holiday and many global banks are closed, including in South Africa, spreads on bids and asks are wide. Traders wanting to participate today should be extra careful, because price quotes are fluctuating and the use of entry orders are highly urged.

While the ability to move lower from highs seen on the 9th of April which touched the 19.95000 vicinity at the height of Forex panic, the USD/ZAR still will have speculative volatile days ahead. The noise from the U.S White House this weekend during the Easter holiday has been limited, but there are no guarantees for quiet in the xmtraders.coming days. However, emerging market currencies like the South African Rand have seen better values over the past week of trading.

Quiet Market Conditions Followed by Strong Activity

Any trader seeking the USD/ZAR today is entering a speculative theatre. Volumes in the broad Forex market will be light today, and only tomorrow will full market action be seen again. Yes, U.S financial institutions will be open later today, but South African banks will not open until tomorrow, limiting the ability to gauge the USD/ZAR for the next twenty hours. The move lower in the USD/ZAR is attractive, but traders should remain realistic today and perhaps wait until tomorrow’s opening for wagering.

The current value of the USD/ZAR is now within eyesight technically of early April values. The 18.70000 to 18.60000 levels may prove intriguing early tomorrow. If price action can be sustained below the 18.70000 mark going into tomorrow’s opening, this might signal the intention of more selling. However, global financial markets are nervous and following the long holiday weekend it is questionable how they will react early tomorrow.

A Lot of Noise and Attention Diverted

South Africa’s political climate has gotten louder the past couple of months, but because of the noise from the U.S White House it is possible attention has been perted elsewhere. Meaning that South African financial institutions may be able to trade the USD/ZAR based on a correlation to the broad Forex market while not focusing on concerns domestically in the xmtraders.coming days.

The USD/ZAR could find itself in a position to traverse lower values, but support levels will have to prove vulnerable around 18.65000 to 18.60000, before additional sellers rush into trying to target the 18.55000 ratios.
Again, traders should be careful today in the USD/ZAR and understand prices being quoted on trading platforms will move fast and that they are merely bids and asks within light conditions.

USD/ZAR Short Term Outlook:

Current Resistance: 18.72100

Current Support: 18.68500

High Target: 18.75100

Low Target: 18.67200

The above content is all about "【XM Market Analysis】--USD/ZAR Analysis: Lower Trend Amidst Holidays and Thin Forex Volumes", which is carefully xmtraders.compiled and edited by XM Forex editor. I hope it will be helpful for your trading! Thank you for your support!

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market analysis

【XM Market Analysis】--USD/ZAR Analysis: Lower Trend Amidst Holidays and Thin Forex Volumes

Quiet Market Conditions Followed by Strong Activity

A Lot of Noise and Attention Diverted

USD/ZAR Short Term Outlook:

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【XM Market Analysis】--USD/ZAR Analysis: Lower Trend Amidst Holidays and Thin Forex Volumes

Quiet Market Conditions Followed by Strong Activity

A Lot of Noise and Attention Diverted

USD/ZAR Short Term Outlook:

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The Most Awarded Broker
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