USDZAR VIEW

Tendency: Uptrend ( Bullish )
Structure: Descending Channel | Breakout
Observation: i. Connecting the lower highs and lower lows of price action with parallel trendlines depicts and confirms our Descending channel illustrated on the chart.
ii. Breakout of Descending Channel at 14.50000 level confirms uptrend tendency.
iii. Breakout of Flat Channel @ 15.00000 informs us that the buyers are really having the momentum at this juncture in the market.
iv. Price above our Moving Averages.
Trading plan: BUY opportunity with a minimum potential profit of 5,000 pips.
Risk/Reward: 1/4
Potential Duration: 5 to 10 days

Watch this space or Telegram channel for updates on lower time frames as price action is been monitored.


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