USDZAR: Sharp Bullish Reversal Off Double Triggers Highlighted - Wednesday, 03 July 2024

Sharp Bullish Reversal Off Double Triggers Highlighted

(1) Reading via Tactical Trading Guide (see original chart below) - Tuesday 18 June at a print of R18.05 at 18h32 in the evening.

(2) Bullish Divergence (see original chart below) - after the close of trade on Friday 21 June at a print of R17.92.

We have since seen a sharp bullish reversal on the currency pair, with a high of R18.66 during Tuesday's (yesterday) session.

Lester Davids

Analyst: Unum Capital