Buy opportunity on the EURZARHello,
A potential buying opportunity is emerging on the EUR/ZAR weekly chart. The pair is trading within a well-defined rising channel, where it has completed a strong impulse wave (April 2022 – May 2023) and is currently in a corrective phase.
With the correction seemingly reaching exhaustion, we anticipate a resumption of the uptrend, presenting a medium-to-long-term bullish opportunity from current levels. Additionally, the MACD zero-line crossover reinforces this setup, signaling a shift in momentum towards the upside.
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