USD/ZAR apporaching Long Term 50% Fib and previous resistance
Updated
USD/ZAR long R11.73. This is the 50% Fib of the long term trend from 2011 to 2015 and falls perfectly on 2008 highs. I'm going to use this idea to buy rand hedge stocks for long term and not as a currency trade.
Note
The 61.8% retracement also falls on quite a strong previous resistance level around the 10.55 mark.Note
What a beauty of a trade
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.