Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
USD/ZAR is in a triangle
2019-11-11 • Updated
SELL 14.34; TP 14.28; SL 14.36
USD/ZAR met the resistance of the line connecting September, March and May highs in the 14.50 area and formed a candlestick with a long upper wick on D1. The pair is consolidating in a triangle and may revisit its lower border provided by the support line since the start of 2019. The pattern on H4 resembles a “Head and Shoulders”. A decline below 14.35 will open the way down to 14.28/25.
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
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