EURZAR at Key Demand Zone – Potential Buy Opportunity

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EURZAR has reached a significant demand zone. This level has been a strong support in the past, with multiple historical rejections, suggesting that buyers could step in here again.

The current price action within the zone is crucial. If the price forms a clear bullish rejection pattern (such as bullish engulfing candles or long lower wicks), it may indicate a reversal, with a potential upward move toward the 19.40058 level. However, if the price consolidates further or breaks below this demand zone, it would signal weakness, and sellers could take control, invalidating the bullish outlook.

If you have additional insights or a different perspective, feel free to share your thoughts in the comments!

31 Oca

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