The US Dollar continues to lose ground against the South African rand in a large scale descending channel pattern. However, not the pattern, but other aspects are to be noted more importantly.
Namely, the fact that the currency exchange rate is respecting the support and resistance of the various Fibonacci retracement levels that can be charted on the currency...
It seems that everything previously drawn on the USD/ZAR currency pair’s large scale charts has become obsolete due to the recent fundamental events in the US. Namely, in a recent testimony to the US Congress the head of the FED provided the needed strength to the US Dollar to break long term resistance.
Before the even the pair was heading for the lower trend...
The US Dollar Continued to appreciate against the South African Rand after it reached the dotted support line near the 11.80 level on January 23.
After testing the 50.00% Fibonacci retracement level, the pair started moving back in the opposite direction. This retracement can be measured by connecting the high at 12.55 and the low at 11.80.
The pair are stranded...
The US Dollar recently plummeted against the South African Rand. From a technical perspective the reason for the fall was the encountering of a Fibonacci retracement level, which is measured by connecting the high and low levels of the last decade.
However, that move was not as surprising as the fact that the following decline broke the support of a massive scale...
Technically I see the EurUsd unfolding a Triangle Wave 4 corrective pattern that is languishing in nature. The three way pattern we're are counting is expectedly in the wave (c) of a-b-c zig zag Wave C pattern down.
on the 30mins-1hr chart the five wave fall from 1.1961 we believe is corrected by an irregular flat (inblueonchart) that retraces from 1.1817 to...
Although the USD/ZAR pair is not that popular due to low volumes and fundamental moves, a review of the pair needs to be done due to a recent rebound against a dominant resistance level.
The pair recently bounced off the combined resistance of a long term channel up pattern, monthly R2 and weekly R3 near the 14.30 mark. As a result of the meeting of the...
