We have seen ZAR very weak recently due to heavy RISK OFF and some weak zar data.
I'm anticipating a RISK ON week which will see ZAR gain some strength, we, have weak PMI data during this week which will give us our prime level to sell
I have 3 TP's set for this trade
TP 1 - 15.17456
TP 2 - 15.02576
TP 3 - 14.64768
Weekly - as we can see NZD has been on a downtrend since November 2016 and has been respecting the descending trendline on separate occasions and on every-time it has reversed heavily. NZDCAD is approaching a key level and double top region, the last price has broken through this area was 11 months ago in march, since then it has been rejected 6 times and we are...
as you can see the Dax has Been respecting the trend line for a long period of time, DAX is a weak ecomany as it has just avoided a recession, eur auto car tariffs may get introduced to Europe which will effect the Dax massively too, Brexit also
Price has tested the downwards channel multiple times then broke to the upside where it has hit our price zone. price should reverse
TP 1 - 9.27954
TP 2 - 9.21655
TP 3 - 9.13943
SL - 9.34018
have a great day guys, please use correct risk management
this idea will only run if we get some positivity over the ongoing trade wars with china
my idea is for price to break 6.72600 region retest and to carry on bearish
price is under the 200 ema
Candlestick formation looking bearish
us china trade wars is looking to get negotiated which will be great for china
we have a descending triangle that has been respected multiple times.
I'm predicting when price gets to 0.95400 it should reverse and carry on the down trend
im expecting price to hit 0.94330 and possibly break out to further downfall.