USDZAR
OVERVIEW
- Price is sitting below the Kumo cloud and Tenkan-sen below Kijun-sen (bearish)
- Chikou span has broken through kumo and we have a bearish twist of kumo = bearish bias on the pair
- A falling wedge has developed with and oversold stochastic which could ignite a move to R15 level . (bullish)
- We will be waiting for the FOMC rate decision tonight to take any further trades on the pair. A move below R14.50 will target the double top measured move.
- Movement in the pair affects many of the JSE's listed stocks.
- MANAGE YOUR RISK -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.