UsdZar has stalled on the 4hr support at the 12.80 area.
Price is being squeezed between the trendlines. Expecting a break to the upside.
A close above the 12.90 - 12.95 area will support my long bias.
Target 1 = 13.30
Target 2 = 13.60
Price has bounced off the 61.8% retracement area again, and has formed a second Pin Bar .
Price has struggled to close below the 48.00 area which has held as good support.
Long bias will be triggered if price breaks today's high.
A more aggressive/riskier entry would be to enter long from the 47.60 - 47.75 area, should price give us a retracement. This will keep...
Price has retraced to the 50% fibo level of the range Feb 2012 - Jan 2016 at 12.55 area.
This area is also a support area dating back to June 2015.
Daily Pin Bar formed yesterday, indicating a possible reversal.
Confirmation when yesterday's high was broken by today's bar.