USD/ZAR Trading Analysis (30/01/2024)

The trend is ascending. The currency pair is traded in the range between 365 and 135 ЕМА. There is a bullish divergence on the Awesome Oscillator. The downtrend wave structure is truncated. The bears have tested the mirror level of 18.7200.

Trading idea:

Buy when the formation of the uptrend wave structure begins, when the wave A breaches the sloping channel of the descending truncated structure.

Stop-loss at 18.7200.

Target price levels at 19.0180 and 19.1700.

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