USDZAR Long UPDATE

16 Apr 2020The US unemployment claims were at 5,245K as opposed to the forecast 5,105K, down from the previous 6,615K. The deviation from the forecast being so low would mean this potentially bad news has not affected our long position as greatly as it could have. I have also identified a descending channel that's much more visible on the H1, this might have been a necessary downward move so as to prevent the H1 from becoming too overbought during the move higher up on the H4, it rests as I type on the turnaround line that I'm using to temporarily close my position if I see it break through with the breaking rule. In any case all is the same as I spoke of earlier today (linked). Let me know what you think.