USD/ZAR - Tentative
Hello
with the Feds rate decision in play we see that the Rand is getting stronger. Going down to 4hr Support level.
One of two things could happen here
1. The rand could reach up again to close the future value Gaps noted on the 1hr timeframe. This will suggest that the dollar will recover. We will have to monitor the movement in this zone.
2. We could see a sharper movement downwards breaking through the 4hr support zone. This will give us good momentum for sell positions and we will move into the 18.0000 zone.
At this current moment my bias is more centered around bullish momentum as noted on the 4hr TF we had strong bearish momentum.
Remember price must correctly deliver both sides before we reach for any liquidity
Stay Safe
with the Feds rate decision in play we see that the Rand is getting stronger. Going down to 4hr Support level.
One of two things could happen here
1. The rand could reach up again to close the future value Gaps noted on the 1hr timeframe. This will suggest that the dollar will recover. We will have to monitor the movement in this zone.
2. We could see a sharper movement downwards breaking through the 4hr support zone. This will give us good momentum for sell positions and we will move into the 18.0000 zone.
At this current moment my bias is more centered around bullish momentum as noted on the 4hr TF we had strong bearish momentum.
Remember price must correctly deliver both sides before we reach for any liquidity
Stay Safe
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