USDZAR (12/03/2019) 11:16

USDZAR (12/03/2019) 11:16

On March 12, 2019, Posted by , In Uncategorized, By , , With No Comments

USDZAR-2.png USDZAR.DMAWeekly-0.png USDZAR.DMADaily-1.png

USDZAR has formed, or is in the process of forming a similar setup to that of GBPJPY posted yesterday where we had a number of things playing out, thus translating to a high probability trade. In the case of USDZAR we have a broken descending trend line which is about to act as support, however, there is also a developing ascending trend line. Apart from that we have our previous structure, previous high which is likely to hold as support too. Lastly, the all this will coincide at the 14.14110 price range. Where we also have the fib zone. We also see a potential inverse head and shoulders that is about to be triggered should the price retrace towards the aforementioned price level of 14.14110

Leave a Reply

Your email address will not be published. Required fields are marked *

WP-Backgrounds Lite by InoPlugs Web Design and Juwelier Schönmann 1010 Wien