USD/ZAR turned up

USD/ZAR turned up

Information is not investment advice

USD/ZAR rebounded from the 200-day MA at 14.18, went up through the 100- and 50-day MAs and formed an “inverted Head and Shoulders” pattern. The bullish pattern will remain in place as long as the pair’s above the neckline at 14.35. The cue to buy will come once the price gets above the 50% Fibo retracement of the June-July decline at 14.49. The first target will be at the next Fibo level at 14.65. Retracements to 14.35 should also attract buyers. 

USDZAR.png

Similar

Levels for trading USD/CAD

To gain the ability to head higher, towards 1.3445, USD/CAD needs to overcome 1.3355 (61.8% Fibo of the May-July decline).  

EUR/GBP is finally correcting

EUR/GBP may be about to make a bigger downside correction. The pair closed yesterday below the August support line and slipped below the weekly pivot point at 0.9250.

Popular

Levels for trading USD/CAD

To gain the ability to head higher, towards 1.3445, USD/CAD needs to overcome 1.3355 (61.8% Fibo of the May-July decline).  

Choose your payment system