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RudiMarin

South African Rand at risk of resuming its downtrend. #ZAR

Short
(ZAREUR+ZARGBP+ZARUSD+ZARNZD+ZARCAD+ZARJPY/8)/6  
RudiMarin Updated   
(ZAREUR+ZARGBP+ZARUSD+ZARNZD+ZARCAD+ZARJPY/8)/6  
ZAR RAND
6
0
zar rand
The Rand has been in a Long Term downtrend. After breaking out a rising channel, which looked corrective, it now appears ready to resume lower.
Comment:
Daily view:
snapshot
Comment:
today ZR is breaking its rising wedge; daily close will matter. We could be at the start of another massive leg lower (more than 10%)

snapshot
Comment:
after breaking its rising wedge ZAR failled to move impulsively lower. Instead it bounced back and backtested the pattern, Let's see if sellers can move thing from here

snapshot
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