Midterm forecast:
While the price is above the support 14.5030, beginning of uptrend is expected.
We make sure when the resistance at 16.3405 breaks.
If the support at 14.5030 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the trough at 16.315 on 2020-06-10 and the...
Trading suggestion:
". There is a possibility of temporary retracement to suggested support line (14.7415).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. USDZAR is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic...
Mid-Term Forecast:
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (16.545). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDZAR is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as...
Daily pinbar + On monthly Resistance zone.
M15 looks like HNS neckline retest.
Short with SL as shown (red line)
TP 61.8 + Retest of structure as shown.
Nice Risk Reward
Im looking at the formation of this Butterfly,looking for reversal pattern @ the 1.27 fib level to go short on the USDZAR my first T.P is on the 38.2 level & second T.P is on the 61.8 level
