USDZAR Short-term bullish signal but bearish overall.
The USDZAR pair has been trading within a Channel Down since the April 09 Low. After pricing the latest Lower Low last week, the price is currently on the new Bullish Leg but got rejected today on the 1D MA50 (blue trend-line).
Both past Bullish Legs of this pattern rose by +5.30%. On top of that, their 1D RSI sequences are quite similar. As a result, we take advantage of today's rejection and turn bullish, targeting 18.7500 (marginally under an expected +5.30% rise.
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Both past Bullish Legs of this pattern rose by +5.30%. On top of that, their 1D RSI sequences are quite similar. As a result, we take advantage of today's rejection and turn bullish, targeting 18.7500 (marginally under an expected +5.30% rise.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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