USD/ZAR 4H Chart: Triple Top

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Pair is signalling about a possible depreciation of the pair. It is the main underlying assumption behind the Triple To pattern—pair fails to reach new high, which happened three times already, and gradually returns to the previous trading levels. At the moment pair is trading just slightly above the pattern's support and seems to have enough propensity to breach and consolidate below it, at least in the short term. However, in the medium term the Stochastic indicator points at a beginning of the rally which moves to the aggregate reading of technical indicators in the long term.

© Dukascopy Bank SA

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