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EUR/ZAR

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EURZAR trade ideas

EUR/ZAR showing strong upside to come - OUCH!This analysis hurts my pocket. Travelling around and living in Europe means we pay in Euros. Hotels, flights, costs, etc... And I unpleasantly am doing an analysis showing how the Euro looks like more upside is to come. It's this kind of analysis I really hope I am 100% wrong. Anyway, upside is to come bease on the Reverse Cup and Handle. The price bounced on the 200MA and said, nope we are going up. Let's go euros! And now, it looks like the next target is to a gloomy R22.44
Long
by Timonrosso
Bullish Momentum Building on EUR/ZARStarting with the price structure, EUR/ZAR has been forming a series of higher highs and higher lows, indicating an uptrend in progress. This pattern suggests that buyers have been gaining strength, consistently pushing the price higher after each pullback. This type of price action often reflects a shift in market sentiment towards bullishness. Adding to the bullish case is the presence of a trend line, which acts as a dynamic support level for the price. This trend line connects the higher lows and confirms the upward trajectory. As long as the price remains above this trend line, the bullish bias remains intact. Furthermore, the recent breakout above a significant resistance level adds further weight to the bullish scenario. A break above resistance signifies that buyers have overwhelmed sellers, potentially opening the door for further upward movement. This breakout could also attract additional market participants who were waiting on the sidelines, thereby amplifying the buying pressure. TARGET 1 : 20.9321 TARGET 2 : 212674
Long
by UnknownUnicorn48526553