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USD/ZAR Bearish SHS Pattern Formation

By:
Nenad Kerkez
Published: Sep 21, 2021, 08:12 UTC

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

USD/ZAR Bearish SHS Pattern Formation

In this article:

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.

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Cheers and safe trading,

Nenad

 

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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