Ah yes it is thy beloved USDZAR hot on my watch list!
The weekly and daily time frames both have higher highs and higher lows that confirms the bullish market structure. I like to add the Fibonacci extension tool to get an idea of where the market is likely to retrace to and from where I can look at finding potential opportunities. The 21 simple moving average is currently hanging around the Fibonacci zone and it would be a good factor to use in confluence when the market reaches this area.
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg/sf/ZN3TE
Join me in Forex Bootcamp for live updates using the link below.
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
The weekly and daily time frames both have higher highs and higher lows that confirms the bullish market structure. I like to add the Fibonacci extension tool to get an idea of where the market is likely to retrace to and from where I can look at finding potential opportunities. The 21 simple moving average is currently hanging around the Fibonacci zone and it would be a good factor to use in confluence when the market reaches this area.
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg/sf/ZN3TE
Join me in Forex Bootcamp for live updates using the link below.
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
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