oncechen
Long

USDZAR long in day chart

FX:USDZAR   U.S. Dollar / South African Rand
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2
75 5
Now USDZAR looks like it can't down any more, if with DXY pullbacking, ZAR will follow up.
setup:
entry:12.4055-12.4057
tg1:12.775
Jan 10
Trade active:
Jan 16
Comment:
Jan 16
Comment: Try
Jan 24
Order cancelled:
Feb 03
Trade closed manually

Comments

I too believe we have hit the lower end but there is one element that I feel can drive the USDZAR down, and that is when/if Zuma steps down before his term ends. When Ramaphosa was named as the new president of ANC the Rand immediately strengthen by 4% and if the "fake news" dip we saw on Tuesday about Zuma stepping down is anything to go by I think we could see it going a bit lower, only, but only if Zuma decides to step down.
Reply
LonelyForexTrader emiledpretorius
@emiledpretorius, exactly i'm long on this pair but I keep checking the news if Zuma resigned or get ousted we can have a good sell on this pair.
Reply
archie01 LonelyForexTrader
hey guys, is this still valid?
Reply
oncechen archie01
@archie01, update
Reply
archie01 oncechen
@oncechen, Thanks!
Reply
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