USDZAR - FOMC Meeting today! (RAND Trade)

USDZAR

OVERVIEW

- Price is sitting below the Kumo cloud and Tenkan-sen below Kijun-sen (bearish)

- Chikou span has broken through kumo and we have a bearish twist of kumo = bearish bias on the pair

- A falling wedge has developed with and oversold stochastic which could ignite a move to R15 level . (bullish)

- We will be waiting for the FOMC rate decision tonight to take any further trades on the pair. A move below R14.50 will target the double top measured move.

- Movement in the pair affects many of the JSE's listed stocks.

- MANAGE YOUR RISK -

Disclaimer: All ideas are my opinion and should not be taken as financial advice.