EUR/ZAR currency pair analysis

The currency pair is traded inside the upper border span of the descendant price channel. The ascendant wave structure of the H8 level is truncated. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions. Trading idea: Sell when the descendant wave structure forms, where the wave (A) breaches through the “pivot 2 of …

The currency pair is traded inside the upper border span of the descendant price channel. The ascendant wave structure of the H8 level is truncated. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.

Trading idea:

Sell when the descendant wave structure forms, where the wave (A) breaches through the “pivot 2 of the wave C” (16.8200).

Stop-loss: 17.1694.

Target levels: 16.3860; 15.7516.

Author: GC

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