USD/ZAR Buy Setup
Overview:
The USD/ZAR pair is trading near a strong support zone around 18.50, a level that has consistently held over the past months. Price action suggests a potential bounce from this area.
Key Points:
Support Strength: The highlighted support zone has historically served as a launch point for reversals.
Bullish Opportunity: The recent rejection of this level indicates buying pressure, increasing the likelihood of upward movement.
Target Levels:
🎯 TP1: 18.79 – Immediate resistance.
🎯 TP2: 18.98 – Previous swing high.
🎯 TP3: 19.22 – Key resistance level.
Stop Loss: Below 18.26, safeguarding against invalidation of the setup.
Trade wisely and stick to your plan!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 6 years in the financial markets! Join my Telegram for exclusive insights.
Telegram Link: t.me/charts_M7M
Telegram Link: t.me/charts_M7M
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.