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