Quadricolor
Short

Triangle formation on the USDZAR.

FX:USDZAR   U.S. Dollar / South African Rand
A Descending Triangle formation is growing on the USDZAR . There are two possibilities, a break above or a break below. This can be an easy trade usually the price moves strongly in one direction after a break. All that is needed is to place buy orders above the down sloping trend line or sell orders below the horizontal support line. The most likely outcome is a break downward in Descending Triangles.

The moving averages also offer support lines which, when broken offer further bearishness on the pair.

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