Potential longterm uptrend to continue here

FX:USDZAR   U.S. Dollar / South African Rand
148 2 6
Despite this week profit taking on the dollar, the uptrend is still intact. I have started positioning back on dollar buys and this particular pair has stayed lower throughout most of the dollar strength, and finally the ZAR             is showing some weakness. There are a lot of confluences here. We have the holders sentiment showing life in the green as well as CCI coming out of OS + RgMov uptrend. I will risk to a new daily low here. Lets see if we can get this one!

Also note the potential ABCD pattern that could unfold here. Good luck. Size appropriately.

Comment: Great progress. if not in can still enter, just need to use a tighter stop
Comment: we closed at the high on friday out of all positions for now. The job report was very mixed, so I do see some more dollar weakness coming into the next week.
Possibly a good one in the long run.
Looking great.
+1 Reply
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