(10,0730) The DOLL/ZAR confirmed on Friday still a positive closing missing however another strong one and well off the highs of the day. The weekly and monthly closing were instead very strong well above the previous weekly/ monthly tops!! The indicators of the daily chart are still well positive but also still well overbought while showing potential negative reversals; those of the weekly and monthly charts are also positive and overbought. The indicators of the s/t charts turned below the line for now suggesting some consolidation/ correction. While below 10,13 on an hourly closing we expect an extension of the correction toward 9,95. We keep staying short, still ready to increase the position above 10,35!!
Click here to read the full report: USDZAR 06.03
Future Trend