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.
USDZAR is at a critical level where the price tends to reverse on 3 occasions, will price break it or reverse?
USD seems to be gaining strength this week. i will wait and see if the price can break the zone and continue on a bullish move, I will wait for the retest to confirm my entry.
And if it pulls back, i will still wait for a retest to confirm my...
As i said yesterday, USDZAR will still pullback to give another sell entry.
And can also reverse to break the trendline and continue on a bullish move. It's unlikely that will happen though.
But either way be ready to react to it.
I'm waiting for the pullback and to continue the bearish move.
Look out for structure.
2,500 pips on two position secured in the bag already, if you are not in yet, look for a possible pullback to enter.
My 3rd position is still active, i will ride it down.
If it pulls back, slam it with another entry!
USDZAR is still on a downtrend and after the price was pushed up to R14.5 and rejected from the zone.
Sell is looking good even if you pull out your fib.
Technically USDZAR is a good sell and put in mind that South Africa economy is in a real mess in recent time and the US market opens on Tuesday,
All things good, i see USDZAR selling to R13.9
Trade with caution!
Watch out for the break of this trendline on weekly, price is still consolidation on it.
If the price can break it up, then we buy till it reaches the next trending above
But if it closes below, the weekly trendline then will sell it back to the support