VladimirRibakov
Short

USDZAR short term sell idea.

FX:USDZAR   U.S. Dollar/South African Rand
The Daily chart shows a bullish convergence. We now need at least a double wave retrace before price wil complete the second part of this double wave cycle.

Price reached 100% FE of the last cycle upwards exactly on a strong Daily resistance level and potential divergence. As long as this resistance holds look for sells aiming 50% FR of the last cycle.

Sell the breakout of the yellow TL targeting 14.8.
SL 2 pips + spread above last high.
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