EUR/NOK 1H Chart: Channel Down

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Feb 2, 2016.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    USD/ZAR 1H Chart: Channel Down Comment: At first it seemed as if USD/ZAR was forming a falling wedge. However, the bullish potential of the pattern was not realised, as the pair plunged through the lower boundary of the figure, giving a bearish channel a chance. Since the price has recently bounced off of the lower boundary of the emerging channel, USD/ZAR will probably rise in the near term, but the expected rally is likely to be shallow due a formidable supply area between 16.10 and 16.20,

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