We can see the uptrending channel is workin fine on USD/ZAR. We can play on long right now until the value reaches the resistance and than we can short the usd against south african rand. RSI is the only indicator that does not support the uptrend move. By the time in case of breaking the channel’s support line, we can play short until 15.200 support line
15.696 is a critic resistance that we need to wait and see the reaction of value once it reaches the resistance.
15.696 is a critic resistance that we need to wait and see the reaction of value once it reaches the resistance.
Trade closed: target reached:
Less likely scenario happened as we drew. It may be hard to play short at the time of breaking support line because the movement was too steep.
But than, if the investors could see the bottom line and played long after break down, there was easy >%2 gain.
But than, if the investors could see the bottom line and played long after break down, there was easy >%2 gain.