The pair from a long-term perspective, may be a lot lower. Reasons possibly are, ROUNDED TOP or S-H-S pattern whereby the Right Shoulder (RS) is being formed still. That is why maybe we may see a move closer to 19.0000 area before lower again. The neckline is lower 17.3500.
This translates somewhere a possible 15s handle USDZAR in the longer term. Anyway, this is just looking at the pair considering all our options.
Strategy SHORT-TERM still a BUY likely on break 18.5500 area, but SELL when right shoulder has been completed.
This translates somewhere a possible 15s handle USDZAR in the longer term. Anyway, this is just looking at the pair considering all our options.
Strategy SHORT-TERM still a BUY likely on break 18.5500 area, but SELL when right shoulder has been completed.
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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.