USD/ZAR Bearish SHS Pattern Formation

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

The USD/ZAR has made a bearish SHS formation. We should see a move down.

MH3 is the right shoulder of the bearish formation. We can see the pin bar rejection at the M H3. The shooting star is the signal for a short trade. The zone is clear. 14.700-72 is the zone where we could see a move down. Watch for a bearish momentum up there. If M H3 stays strong we should see a drop towards 14.460 and 14.210.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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