The pair from a long-term perspective, may be a lot lower. Reasons possibly are, ROUNDED TOP or S-H-S pattern whereby the Right Shoulder (RS) is being formed still. That is why maybe we may see a move closer to 19.0000 area before lower again. The neckline is lower 17.3500.
This translates somewhere a possible 15s handle USDZAR in the longer term. Anyway, this is just looking at the pair considering all our options.
Strategy SHORT-TERM still a BUY likely on break 18.5500 area, but SELL when right shoulder has been completed.
This translates somewhere a possible 15s handle USDZAR in the longer term. Anyway, this is just looking at the pair considering all our options.
Strategy SHORT-TERM still a BUY likely on break 18.5500 area, but SELL when right shoulder has been completed.
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