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Marko618

USD/ZAR apporaching Long Term 50% Fib and previous resistance

Long
U.S. Dollar / South African Rand (FX:USDZAR)  
Marko618 Updated   
FX:USDZAR   U.S. Dollar / South African Rand
Trend Analysis
5
0
trendanalysis
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.
Comment:
The 61.8% retracement also falls on quite a strong previous resistance level around the 10.55 mark.
Comment:
What a beauty of a trade
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