Trading USDZAR

Daily price was bounced from 14.7479 resistance to below for 13.9516 support level as a target: The price is located below 100 SMA/200 SMA in the bearish area of the chart within the following support/resistance levels:

• 15.1978 resistance level located near and above 200 SMA in the beginning of the daily bullish trend to be started, and
• 13.1963 support level located far below 100 SMA/200 SMA in the beginning of the bearish trend to be resumed.

Thus, the most likely scenario for the price movement for September is the bearish ranging within the levels.

Monthly price is on secondary correction within the primary bullish market condition: the price is breaking 12.4670 support level to below on open monthly bar for the correction to be continuing. Chinkou Span line of Ichimoku indicator is going to be testing the historical price to below for the possible breakdown. By the way, 50.0% Fibo level at 11.9441 is the bearish reversal level for the monthly price.

The pair is located inside Ichimoku cloud for the monthly price waiting for the direction of the direction of the bullish trend to be resumed or to the bearish market condition to be started.

• If the price breaks 15.69 resistance level to above so the long-term bulish market condition will be resumed for whole 2019.
• If the price breaks 11.78 support level to below on close monthly bar so we can see the bearish condition to be started and continuing for the 2019 and 2020 in long-term situation for example.
• If not so the price will be on secondary ranging waiting for direction.

With the progression of forex, this world platform is providing facilities to earn money from exchanging various currencies. However, in the present time, traders are also taking help from various forex signals and indicators so that they can take decisions after understanding the market patterns. However, when following trends a trader must give emphasize on the fact that whether the trends he us trying to use are reliable or not.

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