USDZAR-SELL strategy weekly chart
If we look at the decline in GOLD PRICE from the high to the recovery mode, i.e. $ 2,785 high to now current $ 2,680.. this is only a decline of 3.5%. the USDZAR is highly correlated with GOLD and the low 17.0300 area to the current price is an increase of around 12.5%. This obviosuly show misalignment, and adding a high USDX we should see the USDZAR back to around 18.50 atleast to correct the over statement.
Strategy SELL @ 19.0500-19.2500 (its medium term) and take profit near 18.5000.
Strategy SELL @ 19.0500-19.2500 (its medium term) and take profit near 18.5000.
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.