USD/ZAR Quick Analysis - Buyers Beware
The chart says it all. We saw a 400 plus pip spike on yesterday, but is it time to buy long term? That is the question. We are not yet out of bear market territory. Before yesterday, price was very much oversold. The 400 plus pip spike we saw yesterday could very well be a CORRECTION before a sell further. This is a gentle reminder that we can never presume on the market, that because we saw a large spike that it will continue up. Until price has breached the trendline as noted we are technically still in a bear market. I will be doing an in-depth live Zoom to to a market outlook on this pair, probably sometime this weekend or upcoming week. Be on the lookout and stay tuned to my webpage at celestefrederick.com for more information. Click the CONTACT ME link and key in YOUR EMAIL to stay abreast of the webinar date. I also offer one-on-one mentoring. Visit the site also to inquire on sessions from one hour to over a few months time frame.
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