Based off my technical analysis , since May 2021 USDZAR has been in a bearish direction. August 23rd is when confirmation on the sell started and the bullish move had ended. Bullish move was overall just a pullback based off my measurement with the fibs on the weekly chart. Anyways what confirmed the sell / bearish move is the fact that price had reached resistance level and had failed to break. Price also broke the bullish TL. Along with other small confirmations I look for, this lets me know USDZAR still have bears going strong. Price can possibly reached 13.5000.
If you agree with my analysis please like or comment your input.
If you agree with my analysis please like or comment your input.