USDZAR wave 4 or new wave 1 & 2
This is looking more like a wave 4 setup of the preceding bearish trend from 17.210 - 16.364 but the daily TF is showing a bullish divergence, which was confirmed by the 5 waves upward thrust from 16.080 - 17.210. This is a cross road at the moment, so I will advise we just follow the direction of the arrow for now since both wave 4 idea and wave 1& 2 ideas both correspond with the immediate analysis.
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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.