USD/ZAR 4H Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
As the trading range is narrowing rapidly and both trend lines will converge in September, we might suggest that not later than during a two-month period, a penetration of any of the trend line will occur. As aggregate technical indicators are not univocal and sending mixed signals, the pair is likely to be driven by the market sentiment, which is currently bearish (72%), suggesting the price is likely to reach the pattern's support level. At the same time, there are no clear signs of a breakout in any direction, therefore, the pair is expected to continue moving in pattern's boundaries.
© Dukascopy Bank SA
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Wed, 10 Jul 2013 12:54:59 GMT

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