FX:USDZAR   U.S. Dollar/South African Rand
33 0 1
  • Price broke outer trendline
  • We saw a nice retracement to the fibzone - between 50%-61,8%
  • Price did not quite bounce off the outer trendline , however this could be due to the daily demand zone as price immediately moved to the upside after slightly testing the zone.
  • Will be looking to take profit at the 100% level as price is stuck within the main bearish channel
  • Stochastics oversold on the daily timeframe and has already exited the oversold area on the H4 timeframe
  • H4 MACD divergence confluence
FX_IDC:USDZAR            
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