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USDZAR

USDZAR 4H PRICE ACTION, STRUCTURE CONTINUATION IDEA.Hey Everyone Here's an idea on the USD/ZAR which is currently trading below the 50 M.A in a symmetrical triangle. Targeting a break below since from the monthly and weekly time frames the pair is retesting the 50% Fib on a pull back, looking for continuation of this move with the bears. A break above of structure changes the trading plan. I hope the idea assists in anyway on your trades on the pair. Good luck &' happy trading 🐂🐻👍🏽👍🏽👍🏽
Short
by PULEMokhothu
2
Trump and the South African randThe South African rand loses its footing in the trading sessions as the risk aversion in the global market intensifies after the breaking news about US President Donald Trump. The US dollar to South African rand trading pair is bound to go up to its resistance level in the coming days thanks to the uncertainties that have come when it was reported that President Trump contracted the coronavirus. However, there is still a possibility that the US dollar could slip, and the South African rand could see a window of opportunity to break out in the sessions. Investors are currently flocking towards safe-haven currencies, and the South African rand lost its footing against most major developing and emerging market players. The financial market is now uneasily waiting for the unknown outcome as the 74-year-old leader of the biggest economy in the world catches the fatal coronavirus. And unfortunately, the mortality rate for that age group is already at 6%.
Long
by Financebroker