Possible USD/ZAR Wedge breakout and retest of major resistance
We are approaching the support around 17,25 and could see a breakout from the descending wedge before the pullback to the mid 15s again
Just an idea, with the country lowering the lockdown to Level 3 on 1st June, we can expect a major bearish pattern to occur in upcoming days, where the 15,50s can be expected within next 2 weeks again
This is just my opinion, and not to be taken without your own strategy and trading plan, it is merely what i predict may happen at the breakout
Just an idea, with the country lowering the lockdown to Level 3 on 1st June, we can expect a major bearish pattern to occur in upcoming days, where the 15,50s can be expected within next 2 weeks again
This is just my opinion, and not to be taken without your own strategy and trading plan, it is merely what i predict may happen at the breakout
Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.