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USD/ZAR Trading Analysis (11/09/2024)

11.09.2024

Market Review

The trend is descending. The currency pair is trading in a range between 365 and 135 ЕМА. The uptrend truncated wave structure finished with the breach of the sloping channel.  There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the overbought condition.

USD/ZAR Forex price chart

Trading idea:

  • Sell when the formation of the descending wave structure begins.
  • Stop-loss at 17.9640.
  • Price levels at 17.7990 and 17.6720.  

#usdzar #forex #forextrading #tradersroom #daytradingpatterns #forexexpertadvisor

Author: GC
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