peterbokma

USDZAR-SELL strategy 4-hourly chart

Short
FX:USDZAR   U.S. Dollar / South African Rand
The pair will likely move further south on the back of strong GOLD price levels. We have triple TOP for the pair 19.15-19.20 etc. and we broke through neckline 18.90s. Now we are trying to move beyond 18.7900 support and if given way, would expect a steep decline 18.6350 area. However, observe stochastic levels as they might be overdone at the time we have moved beyond 18.7000.

Strategy SELL @ 18.8900-18.9100 and place SL tight 18.9850 for now (financial stop only). Profit order @ 18.7850 for now. Most are already short as per my previous update. so keep short and or add.

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