peterbokma

USDZAR-SELL strategy daily chart

Short
FX:USDZAR   U.S. Dollar / South African Rand
The previous update on daily chart was a BUY strategy and worked out well. Profit order done @ 19.1750 area.

Now we are becoming overbought and regression channel suggests we may see a movement between 19.9300 and 19.4100 on top side. the stochastic is negative and therefore I see potential test of 19.0000 again

Strategy SELL @ 19.2575 - 19.3150 and take profit @ 19.0150. SL above 19.4150.

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