ZAR stronger than EUR?

Jan 21, 2018

After comparing a handful of ZAR pairs I saw that the South African Rand is really killing it! Each pair however showed a break in the ZAR strength, solely due to a 0.9+ correlation in each of them. I picked this pair because of the psychological level; 15.00000, where price has managed to close below hence i believe price will continue to drop. Despite this I will not enter exactly when the market opens but i will wait for the 4hr candle to close lower than the close of last week. My bearish sentiment will be elevated if the 4hr candle passes the 15.00000 zone but ends up closing below the close of last week, because this would indicate that the bulls tried to take control of the market but were obliterated by the bears, it's the equivalent to being in a fight and punching your opponent as hard as you can but he/she seems to feel no pain! Other things I'm looking for is for the DI+ to continue moving lower than the 20 level on the DMI and the ADX and DI- to continue moving higher. I'm targeting 13.51049 but if there is any funny business at the 14.00000 I'm pulling out!