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  • Writer's picturePeet Serfontein

Analyst Thoughts - USD/ZAR Medium-Term

THE VIEW IS RETAINED FOR AN EVENTUAL BULL PHASE, WHICH CONSTITUTES A SEGMENT OF AN UNFINISHED TRIANGLE PATTERN.


  • The formation of the P*K* triangle pattern is ongoing and the illustrated outcome is retained. 

  • Phase C downside was completed at K*/S1.

  • Current gains off S1* should then be phase D with further upside potential to the highlighted target area around P*.

  • Phase E downside from P* to K* could complete the triangle pattern followed by a bull trend to T1 and beyond.

  • Medium conviction on the general outlook of a triangle, followed by a bull trend. 

 


Target and Reassessment Levels:

Important Levels: P* and K*

Primary Trend: P*/K* consolidation, followed by a bull trend to T1

Current Trend: Gains to P*, followed by a reversal to T1

Monthly Range: R1*/K*

Technical Rating: Medium



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