EURO showing strong downside against ZAR to R17.85
M Formation has formed over the last few months with the EUR/ZAR.
The price broke below the support which has become the resistance. ANd the price has been coming down on a trajectory to the psychological level of R19.00.
Now, if it breaks down further, I might be too optimistic but it looks like the next target could hit is R17.85.
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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