MY USDZAR LONG TERM EXPECTATION FOR 2022.
USD/ZAR rate was at @15.075 at 2022-02-2, now currently on todays range: price at @15.372, the buyers managed to bounce off the price from the (demand zone) @14.93651, As seen here on the chart, a long-term increase is expected, the forex rate forecast for USD/ZAR on 2022, starting from February: in the beginning price at @15.38 Maximum @15.53 minimum 14.86. the averaged exchange rate @15.22, usd/zar prognosis at end of the month @15.09 change for Feb -1.9%. March: in the beginning at @15.09. Maximum @15.49, minimum @14.46. The averaged exchange rate @15.03 usd/zar forecast at end of the month @15.06, change for Mar -0.2%. ...etc... USD/ZAR forecast for July: in the beginning at @14.76. Maximum @15.15, minimum @14.71. The averaged exchange rate @14.89. usd\zar forecast end of the month @14.93, change for July 1.2%. USD/ZAR forecast for August: in the beginning price @14.93. maximum @15.61, minimum @14.93. The averaged exchange rate 215.21, usd/zar forecast end of the month @15.38, change for August 3.0%. ...etc... USD/ZAR forecast for December. in the beginning at @16.12. maximum @16.12, minimum @15.41. the averaged exchange rate @15.82, usd/zar forecast at end of the month @15.64, change for December -3.0%. For Almost the Whole Year of 2021 price been hovering under @15.66010 till Nov 2020, price managed to break above from that price Level, Now it looks like 2022 price is heading in that same range as 2020 in momentum.
Now speaking on the (technical analysis) based on this pair, expecting price to break structure @15.44081, resulting price into a (bull momentum) in price, also note on chart, it looks a (Bullish Flagpole) taking on formation, plus got the ( ABCD pattern) placed, as seen on chart point C is a (demand) and point D as the (supply) and the main last target point, on the (Fibonacci retracement level @0.236), im expecting price to at least around July to find (support momentum) on that level, looking back at history from March 2020 to Apr 2020, price pushed all the way up and got rejected @19.31529. However please note, all this here is just my own personal prognosis and opinions, please do your analysis and research before any decisions are made in price, so with that been said, Trade Wisely and Happy Trading.
Now speaking on the (technical analysis) based on this pair, expecting price to break structure @15.44081, resulting price into a (bull momentum) in price, also note on chart, it looks a (Bullish Flagpole) taking on formation, plus got the ( ABCD pattern) placed, as seen on chart point C is a (demand) and point D as the (supply) and the main last target point, on the (Fibonacci retracement level @0.236), im expecting price to at least around July to find (support momentum) on that level, looking back at history from March 2020 to Apr 2020, price pushed all the way up and got rejected @19.31529. However please note, all this here is just my own personal prognosis and opinions, please do your analysis and research before any decisions are made in price, so with that been said, Trade Wisely and Happy Trading.
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