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Hello.
We are looking at the Elliott Wave analysis of the USD/ZAR on a daily chart. Keep in mind that this is an analysis and not a trade - primarily because the invalidation is too far away. We don't want to lose that many PIPs in case the pair goes against us.
However, with that, you can plainly see the nice ZZ (Zig Zag) formation of the pair.
Always use stops and good money management when placing trades. Never forget that it's okay to not trade if there is not a good trade presented to us.
We will keep analyzing the charts and update you as we get a trade oppotunity.
Good luck.
EUR/USD:Broader themes may have to take a back seat for a couple of weeks, but the bias remains broadly dollar negative. Re-try a small buy against 1.3430 support, stop 1.3380,...
USD/CHF – Market strategy is bullish, buying from the 1.1180~levelUSD/CHF-market strategy can be a buy from the level 1.1180Technical oscillators supporting the bullish trend...
In this PDF you will find the latest technical analysis published by Forex Trends
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