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paraujo

USD/ZAR (W)

U.S. Dollar / South African Rand (FX:USDZAR)  
paraujo Updated   
FX:USDZAR   U.S. Dollar / South African Rand
Chart Patterns
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chartpattern
A strong Bullish Engulfing candle could lead to further weakening of the ZAR.
Looks like an Ascending Triangle is being formed which could mean further weakening of the ZAR.
A Bullish Flag breakout has taken place on the Daily Chart.
Comment:
IF it breaks above 16.35 ( top of the Cup and handle formation or top of the ascending triangle ) it could possibly head up to 17.50
However if it breaks below 14.50 these formations will be null and void
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