Rand looks like is about to fall
The Rand has been range bound against the USD dollar Between
the R18 – R17.90 support zone and R19.30 – 19.60 resistance zone.
In the last couple weeks, the Rand printed two inverse hammer
candles.
Those inverse hammer candle to me signal that the Rand buying
that brought the price back to the R18-R17.90 support zone. Is
slowing down and losing some strength.
Couple with that a bullish divergence pattern. Signal to me that the
Rand is about to turn against the Dollar. Back to the R19.30
resistance
the R18 – R17.90 support zone and R19.30 – 19.60 resistance zone.
In the last couple weeks, the Rand printed two inverse hammer
candles.
Those inverse hammer candle to me signal that the Rand buying
that brought the price back to the R18-R17.90 support zone. Is
slowing down and losing some strength.
Couple with that a bullish divergence pattern. Signal to me that the
Rand is about to turn against the Dollar. Back to the R19.30
resistance
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.