🔹 Entry Zone: Around 18.307
🔹 Take Profit 1: 18.354
🔹 Take Profit 2: 18.390
🔹 Take Profit 3: 18.439
🔹 Stop Loss: Below 18.266
Analysis:
USD/ZAR is currently sitting at a strong support level, where price has previously bounced multiple times. This area has shown buying interest, indicating a potential reversal.
🔹 The RSI is oversold, suggesting possible bullish momentum ahead.
🔹 Price is forming a double bottom structure, which often signals a trend reversal.
🔹 If buyers step in at this level, we could see a move towards the next key resistance zones at 18.39 and 18.44.
As always, risk management is key—watch for confirmations before entering!
🔹 Take Profit 1: 18.354
🔹 Take Profit 2: 18.390
🔹 Take Profit 3: 18.439
🔹 Stop Loss: Below 18.266
Analysis:
USD/ZAR is currently sitting at a strong support level, where price has previously bounced multiple times. This area has shown buying interest, indicating a potential reversal.
🔹 The RSI is oversold, suggesting possible bullish momentum ahead.
🔹 Price is forming a double bottom structure, which often signals a trend reversal.
🔹 If buyers step in at this level, we could see a move towards the next key resistance zones at 18.39 and 18.44.
As always, risk management is key—watch for confirmations before entering!
📈 6 years in the financial markets! Join my Telegram for exclusive insights.
Telegram Link: t.me/charts_M7M
Telegram Link: t.me/charts_M7M
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.
📈 6 years in the financial markets! Join my Telegram for exclusive insights.
Telegram Link: t.me/charts_M7M
Telegram Link: t.me/charts_M7M
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.