Maxpips_net

USDZAR oversold on daily, but no divergence yet. Time to buy?

Short
FX:USDZAR   U.S. Dollar / South African Rand

USDZAR oversold on daily, but no divergence yet. Is it time to buy yet? With DXY at resistance zone with potentially a bit more up, I would definitely not sell at this point. 17.51 has been proven strong support for now. It might potentially pull back to 18.2 area before dropping to 17.26. Selling the pullback would be the preferred option imo.

DXY:
Comment: Short target hit, switched long

Comments

Good analysis, we also look for a short scenario on our idea
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Maxpips_net plancton0618
@plancton0618, thank you and good luck with your trade
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