In this video, the Trader Guy looks at the USD/ZAR pair for the May 14th session.
USD/ZAR — The Monday session saw this market to rally and this was seen as a risk-off move. This was due to investments flowing into treasury markets and away from emerging economies. As you can see, this is an inverse head and shoulders pattern on the daily chart. You can expect the market to break in either direction of this pattern. To the downside, the 1.350 is the target. To the upside, the 15.00 level is the target. At the moment, market could make short-term movements that scalpers can take advantage of.