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Marco_Lourens

Potential Short Position USD/ZAR (Medium-Term)

Short
U.S. Dollar / South African Rand (OANDA:USDZAR)  
Marco_Lourens  
OANDA:USDZAR   U.S. Dollar / South African Rand
Trend Analysis Chart Patterns USDZAR usdzarforcast usdzaranalysis usdzarshort
2
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trendanalysis chartpattern usdzar usdzarforcast usdzaranalysis usdzarshort
Looking too potentially short the USD/ZAR at the 14,98 / 15.07 level, given the resistance zone holds and there is a bearish entry signal on the 6h chart. Potential take profit levels are 14,76050; 14,64230 and 14,61000. A well placed stop-loss level should provide a risk:reward ratio of above 1:2. The trade also offers a positive carry benefit.
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