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peterbokma

USDZAR-SELL strategy 4 Hourly

Short
U.S. Dollar / South African Rand (FX:USDZAR)  
peterbokma  
FX:USDZAR   U.S. Dollar / South African Rand
Trend Analysis Chart Patterns Technical Indicators
4
0
trendanalysis chartpattern indicator
The pair has formed a likely "false bull flag" pattern, and usually this means a move lower after a solid break of the base of the flag. The support is 19.1600 area, and the top is 19.3650 estimated.

The potential is a move back towards 18.7500 cloud support.

Strategy SELL @ 19.2250-19.3150 and place stop-loss above the flag resistance currently 19.3750 suggested level. Profit @ 18.7850.
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