USDZAR formed head & shoulders pattern Price rejected from 61.8% Fibonacci of preceding wave at level 14.9555 and confirmed by bearish engulfing candle Below moving average 100 MACD shows weakness in bullish momentum RSI reached overbought region It's expected for coming strong bearish wave to test key level at 14.2780
USDZAR Morning before #SONA if things don't turn around at 15.00 we going to 15.26
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Living in South Africa in recent years has been a challenge not just mentally but emotionally with all the negativity going around. None the less, I love South Africa and remain optimistic. From the charts, the current development of price action seems that we won't be breaking through ATH's anytime soon. If the sideways chop from 2015 up to 2017 is anything...
USDZAR is in a CRITICAL zone to sell but i see the continuation of the previous BULLISH move, honestly but NFP is few hours to come, it might push the market up or push it down. But i will not do anything on it until after NFP, it might be next week. If you know how to trade NFP, why not but the best is to protect your money.
Just a little study for this week. Price is at a key level in the market...look left we can see how price has respected this zone in the past. Is price ready to surpass the latest high or will it range? Study price action. Join my subscription group to join the discussion and play by play analysis. Link in bio or visit www.celestefrederick.com
I have been on the sideline watching how things are playing out. Lookout for price at 14.55 and 14.31, Price could break or respect it.
hello traders,thank you for looking at my idea. As we can see on the chart above,it seems like price just hit an extreme point but for a safe entry we will first wait for a pull back then sell the break out of the level indicated.
4H Chart Explanation: - Price broke the Ascending Trendline and made a Pullback to it. - Now, it is on a correction. - If price breaks the correction, potential to move down towards the Support Zones. Weekly Vision: Daily Vision:
FX:USDZAR Hitting strong resistance due to RISK OFF conditions out there.
Have been shorting this since last year and it’s still a bear. 14.54988 represents a critical support and resistance zone. price bounced and rejected off this level multiple times. At H4, price broke the ascending trendline and has pulled back, CMP currently at 61.8% fib level. If price breaks above 15.00000. setup will no longer be valid
I think the price will slowly fall down till 50% or 0% of Fibonacci level during the next week and will jump back to R15 level (161.8% Fib level) by the end of February.