. There is a possibility of temporary retracement to suggested support line (16.545). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. USDZAR is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as...
Head and Shoulders pattern showing some form of resistance around the 113.300 level. Without any real fundamentals I don't think a break through will be possible. December rate hike is slowly being priced in. 3 rate hikes being confirmed next year should help with short positions but a caution if the FED commit to an addition of a fourth.
Non Farm Payrolls were better than expected today 8th of March. Next week Fed is most likely to do a hike rate. Which will be good to control inflation in the US, and dollar will gain strengh.
Now he have clearly broken the trendline are are expecting the C of the correction of the first bullish impulse. rejection of the 38-50 or 61 will give me a valid entry to...