USDZAR Low risk buy signal.
The USDZAR pair is trading below both its 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line), having formed a Channel Down (blue) since the start of the year. The 1D RSI hit the bottom of its Rectangle, so even though there is some limited downside on the Channel Down before forming a Lower Low, the reward is much higher on the upside.
Assuming a Lower Low at the bottom, we expect another +4.40% rise towards the Lower Highs, thus our Target is at 19.1500.
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Assuming a Lower Low at the bottom, we expect another +4.40% rise towards the Lower Highs, thus our Target is at 19.1500.
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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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