USD/ZAR upside to R21.72 after a resistance breakout
Rev C&H has formed on the USD/ZAR.
If we get a slight retracement back it could be forming a Right shoulder to an Inv H&S.
Regardless, this looks bearish for the ZAR and bullish for the USD.
Other indicators are showing upside to come for the greenback.
7>21>200
RSI>50
Target 1 will be R21.72. Ouch for the rand.
The government and load shedding is really messing with the economy of this beautiful country of opportunities and diversification.
If we get a slight retracement back it could be forming a Right shoulder to an Inv H&S.
Regardless, this looks bearish for the ZAR and bullish for the USD.
Other indicators are showing upside to come for the greenback.
7>21>200
RSI>50
Target 1 will be R21.72. Ouch for the rand.
The government and load shedding is really messing with the economy of this beautiful country of opportunities and diversification.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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