Speculation on why Zar to Rebound
South Africa reinvesting in Tourism industry
Newly infected Covid-19 rates stable
Bipartisan response to economic and social affairs
Lockdown levels back to acceptable levels
Reopening of borders to neighbouring countries
Promising comparative import/export data
This is our look for the EurZar, it is bearish and is expected to make a possible bounce on tp area before reaching our target zone.
All of my market shared technical set-ups are speculative, they are not guaranteed for accuracy or in completeness in the form of any content. At this profile page, the analysis, ideas and also, the strategy of a chart belongs to...
Looking forward for a reversal price action pattern that's forming at a strong support level.
Price seen making a first swing high then swing low and finally making a swing high.
So a total reversal expectation is due to be seen as price breaks upside the inverted H&S pattern after correcting the right shoulder
Starting off from the daily:
It appears we have completed an ABC-wave type correction and are starting a new wave higher. The correction completed at a previous swinglow.
Zooming in on the 4hr I see a resistance level that is rejected a couple of times indicating price struggled to get past it. But it finally managed to close above it. My plan from here is to buy...
Trend Is Your Friend
1. One touch, Two Touch and Three Touches
complete a trend.
2. EMA acting as dynamic resistance
3. Market has entered an area of sensitivity
@ 19.8000 also know as a psychological level
where institutions place orders and take profit
4. Waiting for 3 two hour candles to show signs
of rejection to place sell...