USDZAR has recently entered a consolidation zone that concludes the is indecisiveness in the market mainly because of the corona virus pandemic.An Ascending Triangle is formed that proves bullish movement to continue. Rising Volume combined with the ascending triangle indicates that Bulls will most likely win this round.
Another strong factor to consider is that
USDZAR is in a uptrend and therefore a buy order makes more sense. Take Profit targets will be recommended at R19.00000
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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.