Price has been moving with strong bearish momentum on the weekly chart since we broke out of the support area in early November. We have now reached previous weekly support and a weekly trend line and if we see a strong shift from the bears to the bulls we could start to see the overall bullish trend for USDZAR start to resume again and give us a swing to test the...
I am expecting USDZAR to break out of its descending wedge formation as a bullish flag and is also oversold on the RSI . US Dollar Index also has an inverse head and shoulders patterns indicating further dollar strength this coming week.
Watch the price action at 17.27500 London open
hi everyone just looking at USD ZAR and GBP CHF just a little breakdown on both pairs and let me know what you think as well both looking really nice at the moment so let's see how they play out for next week i will keep you all updated :)
We took a little intra-day buy on USDZAR based on the details in the chart.
The Risk/Reward is decent and we are just looking to ride the trend here to the upside. We will lock in gains after a 0.3% rise in price.
After a previous entry ive entered USDZAR again
The Fibo on the side which highlights the 30% level highlights when i should move my SL to BE being a swing trader i can hold trades for up to a month. so I've formulated a new strategy to move my SL to BE when a trade has moved 30% of the PIPs for TP