FX:USDZAR   U.S. Dollar / South African Rand
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5
SHARK BULLISH AT 13.51 OR 13.11 . SHORT IT NOW
Comment: THIS SHARK PATTERN SEEMS TO BE WORKING ON USDZAR. BUY USD ZAR

Comments

Hi Shark, I agree. I don’t believe Moody’s and S&P will downgrade RSA especially since Fitch last night chose not to. Why does your chart then say ‘Long’, if you’re advocating a short position?
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the pattern is to go long from 13.11 or 13.51 as both prize fall at D point of shark pattern, it is upto you to go long or short from these level depending on market response. But 13 level is important and I dont think it will drop below because there is also inverse head and shoulder pattern if you have seen my previous chart on this pair.
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Ltd smartstep78
@smartstep78, Thanks for the feedback Shark. It is only a question now of when the announcement is taking place today and what the market reaction will be. I do agree the maret will go long follwoing the initial short reaction.
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I think the other way round. market will go short following the intial long reaction.
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