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Impending Bearishness for the USD/ZAR

July 3rd, 2009 Posted in Analyst Picks Bookmark and Share
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Name: Anton Eljwizat

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• Below are the hourly chart and 4-hour chart for the USD/ZAR.

• The indicators used are the Slow Stochastic, RSI, and MACD.

• Point 1: The Slow Stochastic on the 4-hour chart shows a bearish cross, signaling that the next move may be in a downward direction.

• Point 2: RSI signals that the price of this pair currently floats in the over-bought territory, indicating downward pressure.

• Point 3: The MACD on the hourly chart also support the downward direction.

USD/ZAR 4-Hour Chart
zar-4-hour-chart

USD/ZAR Hourly Chart
zar-1-hour-chart1

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