25-01-2024 _ Short Term Bearish Idea _ USDZAR H4
1- Bearish Divergence on RSI Indicator
Bearish Divergence on MACD MAs and Histogram
2- Followed by Convergence on MACD Histogram ( formation of New Low )
The price action suggests a typical Scenario of Divergence followed by Convergence.
Therefore, we can expect;
1- Pullback ( ~ 50% Fibo Retracement )
2- Followed by further continuation to the downside