Looking at the long possibility on USDZAR, we could expect a bullish movement starting at a retracement at 18.83 as its the initial value for both the double bottom formation and the retest on the 11.8% fibo level which marks the average between the 0 and the 23.6% level, this is a very beautiful setup that we shall follow after the breakout on the 19.20 or the bearish momentum.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.