$USDZAR Continuation or not?

Triangle consolidations are normally continuation patterns in the direction of the preceding trend. I for one doesn't hope this plays out but nevertheless as traders we can't let our emotions get the better of us. Triangle is still in development but one to keep an eye on as we approach the bottom end of the channel. A potential rate cut by the SARB tomorrow could be rand negative and supports a bounce off the bottom of the channel. In either scenario, one would wait for a break of the triangle to confirm direction, but should we continue in the same direction of the previous trend and breakout eventually, the triangle projects a target of 20.10-20.30 against the US Dollar.

Comment:

breaking bottom of triangle we should signify further strength or rand vs. usd