USDZAR Bearish Setup: Break and Retest

14 Jan

The USDZAR pair has broken below the channel, signaling a shift in market sentiment toward bearish momentum. The price is currently retesting the trendline, which now serves as a potential resistance area.

If the price confirms rejection at the retest of the trendline, I anticipate a bearish move targeting the 18.66384 level, which represents a logical target for this setup.

This setup highlights the potential for a trendline break-and-retest continuation to the downside. Traders should look for bearish confirmation signals, such as bearish engulfing candles or rejection wicks, before considering short positions.

14 Jan

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20 Jan

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