The best time to analyze the market is when its closed. After a analyzing the weekly chart of USDZAR, I think this market could continue its overall trend to the upside. The market is currently under the 14MA, meaning this market is selling.
Lets compare last week engulfed sell candle compared to this week. WHERE IS THE SELLING MOMENTUM? It does not make any sense for this market to have amazing selling power last week and this week it died down. Consistency is key and this market is NOT consistent in the selling momentum.
Looking at this market, I am expecting USDZAR to continue to travel towards the upside and I am expecting this market to break the highest high 19.06 continuing to go higher.
We will see :)
Lets compare last week engulfed sell candle compared to this week. WHERE IS THE SELLING MOMENTUM? It does not make any sense for this market to have amazing selling power last week and this week it died down. Consistency is key and this market is NOT consistent in the selling momentum.
Looking at this market, I am expecting USDZAR to continue to travel towards the upside and I am expecting this market to break the highest high 19.06 continuing to go higher.
We will see :)