USDZAR STARTED ITS BEARISH DESCENT THE BEGINNING OF NOVEMBER LAST YEAR AND IT LOOKS LIKE THE PAIR HAS FOUND A BOTTOM @ 12.2884. THE LAST TIME PRICE TESTED THIS AREA WAS MARCH 2017, AND IT CLEARLY PLAYED AS SUPPORT AGAIN SEEING THATS WHERE PRICE OPENED UP AT MM2. ACCORDING TO PIVOT POINTS BULLS THAT BOUGHT AT MM2 ARE EYEING A TARGET OF MM4, SO A POSSIBLE MONTHLY SWING. THE PLAN IS TO LOOK FOR A BUY ENTRY AT LOWER TIME FRAMES IF YOU ARE A BULL.

USDZAR DAILY

MARKET IS BEARISH, 55 EMA IS ABOVE THE 21. PRICE OPENED AT MM2 AND BULLS WILL LOOK TO TAKE PRICE ALL THE WAY TO MM4. STOCHASTICS IS OVERSOLD, HOWEVER ITS FACING NORTH AND HEADING INTO THE TRADE ZONE. RESISTANCE IS AT MPP AND MM3.

USDZAR H4

MARKET IS BEARISH, 55 IS ABOVE THE 21. PRICE OPENED AT WM2 WHICH COINCIDES WITH MM2. PLAYING WEEKLY PIVOTS BULLS ARE TRYING TO GET PRICE TO WM4. RESISTANCE IS AT WM3 AND WR1.

USDZAR H1

ON THIS CHART I TRAPPED PRICE AS IT TRADED SIDEWAYS FOR A WHILE. HOWEVER PRICE HAS BROKEN OUT TO THE UPSIDE PRINTING A HIGHER HIGH. THAT PREDICTS A HIGHER LOW, SO BULLS ARE WAITING FOR A PULL BACK TO ROLE REVERSAL SUPPORT TO GO LONG AGAIN.

USDZAR M15

MARKET IS BULLISH ON THE M15 CHART., 21 IS ABOVE THE 55. PRICE IS BULLISH AND HAS BROKEN TO THE UPSIDE. A PULL BACK WILL PROVIDE A POSSIBLE OPPORTUNITY TO GO LONG.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.