Hello,
A potential buying opportunity is emerging on the EUR/ZAR weekly chart. The pair is trading within a well-defined rising channel, where it has completed a strong impulse wave (April 2022 – May 2023) and is currently in a corrective phase.
With the correction seemingly reaching exhaustion, we anticipate a resumption of the uptrend, presenting a medium-to-long-term bullish opportunity from current levels. Additionally, the MACD zero-line crossover reinforces this setup, signaling a shift in momentum towards the upside.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
A potential buying opportunity is emerging on the EUR/ZAR weekly chart. The pair is trading within a well-defined rising channel, where it has completed a strong impulse wave (April 2022 – May 2023) and is currently in a corrective phase.
With the correction seemingly reaching exhaustion, we anticipate a resumption of the uptrend, presenting a medium-to-long-term bullish opportunity from current levels. Additionally, the MACD zero-line crossover reinforces this setup, signaling a shift in momentum towards the upside.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Trade active
If you enjoy my market insights and analysis, I’d love your support on my journey to hit 5K followers. Follow me here on TV
Paid trading group
patreon.com/thesharkke
Broker
go.tradenation.com/visit/?bta=37130&brand=tradenation
Paid trading group
patreon.com/thesharkke
Broker
go.tradenation.com/visit/?bta=37130&brand=tradenation
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
If you enjoy my market insights and analysis, I’d love your support on my journey to hit 5K followers. Follow me here on TV
Paid trading group
patreon.com/thesharkke
Broker
go.tradenation.com/visit/?bta=37130&brand=tradenation
Paid trading group
patreon.com/thesharkke
Broker
go.tradenation.com/visit/?bta=37130&brand=tradenation
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.