USD/ZAR bounced off the 61.8% fib on the weekly chart. Possible head and shoulders, pattern is forming, with price extending to 61.8% fib level on the daily chart in the short term. Also the economic and political conditions in South America forecast a deterioration of the Rand, and a turn to the USD for safety. This trade is for demonstration and educational purposes. Trade at your own risk.
TP 1: 14.82921
TP2: 15.03469
TP 1: 14.82921
TP2: 15.03469
Trade active
TP1 Hit!Trade closed: target reached
TP2 Hit!
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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.
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.