SteynTrade

USDZAR Where will the Rand go? Waiting a little longer

FX:USDZAR   U.S. Dollar/South African Rand
The USDZAR             is forming a smaller corrective wedge within the larger correction. Seems as that everyone is waiting to see how things will develop. Within this wedge it does seem that volumes have increased and volume spikes can be seen at the bottom of the low volume pullbacks which looks imo that larger players are shedding Rands on the pullbacks and we can expect a new impulse long when the wait is over.
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