ZARJPY Bumb and Retest

27 Apr 2020

These exotic FX pairs are more tricky to trade, but there is a potential nice setup here in the making. It has made a huge drop past 2 months for FA reasons, but there is a chance we might see a bigger consolidation or correction up this time. There was strong move up 2 weeks ago but came back down all the way again, but in a much slower pace though, which could be a sign. Now ideally we see it test that curved shape on the right a bit more coming days, but it is very important to see the green zone hold. If that breaks, anything is possible.


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28 Apr 2020

Nota

Looks decent, but the breakout if kinda weak and slow, so good chance it will still test the lows as that blue line suggested. So think gonna wait a bit more here

30 Apr 2020

Nota

So played out quite nicely, could be that a flag or something might be formed now. Would say first target zone is reached, so suggest to take at least partial profit here and then wait. There is a lot more potential, but for that the red on the left needs to break with a big rally. The blue on the left should not break anymore