USD/ZAR Price Turns Bearish
USDZAR Has been in an impulse phase and it has been completed with no rules violated. We are in the bearish phase of the market, we have two counts going on where it could be an impulse in the downside suggesting a long-term sell-off or a short-term sell-off as a correction meaning we are trading in a wave (C) instead.
The idea of an impulse is a little complex but the idea would be to trade a wave 3 looking at the retracement it would make sense to target the 2,618. Correlating this pair to USDCAD we are more likely to have long-term sells but keeping an eye on the price level where a Zig-Zag pattern completes will be very important.
The idea of an impulse is a little complex but the idea would be to trade a wave 3 looking at the retracement it would make sense to target the 2,618. Correlating this pair to USDCAD we are more likely to have long-term sells but keeping an eye on the price level where a Zig-Zag pattern completes will be very important.
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