Once again like we have been seeing for the last five years, USDZAR appears to have once again found a bid in the congested area green and thus validate the descending channel we have seen in motion since the top established back at the start of 2016. Shorting this pair into strength looks like the plan of action at the moment for a potentially nice swing to orange which could unfold in the following weeks.
Consider invalidation of this short setup above the 14.16 Handle.
Most traders usually attempt to paint all Emerging Market (EM) Currencies with the same investment brush, each EM currency should be individually evaluated with objective fundamental research to avoid this and effectively maximise profits.
Consider invalidation of this short setup above the 14.16 Handle.
Most traders usually attempt to paint all Emerging Market (EM) Currencies with the same investment brush, each EM currency should be individually evaluated with objective fundamental research to avoid this and effectively maximise profits.