The Dreaded RAND | Predictable or not?
Assuming that USDZAR has actually started acting like a currency pair again and not just some wild, untameable beast, we can deduce from previous price action and multiple EMAs that the pair is most likely to go Bullish in the week(s) to come.
Otherwise, expect it to drop back down and range between 12.46700 and 12.7000 for a while.
Otherwise, expect it to drop back down and range between 12.46700 and 12.7000 for a while.
Commentaire:
Looks like the price is indeed entering the range area. Wait for price to settle on 61.8% line to confirm a buy.
Transaction en cours:
Trading the range. Long up to 78% Fib line (12.46500-12.46700). Possible short afterwards.
Commentaire:
Price has left the ranging zone. Large Bullish rally ahead?