FxWirePro
Long

USD/ZAR forms flag, speculate via one touch binary call

FX:USDZAR   U.S. Dollar / South African Rand
70 0 3
We traced out a "bullish flag pattern" soon after testing supports at around 15.25 levels.

We've received the confirmation on next candle with big real body at 15.7238 levels resembling flag pole again.

This what we call it as a "decisive break" because it is observed as robust volumes build up while breaking supports (see grey shaded rectangular area).

Absolutely no trace of selling on all EOD             and intraday terms. Instead, all leading lagging indicators are signaling.

No surprise if it hits 16.50 zones sooner or later.

Even if you any minor corrections, don't get panic and both leading and lagging indicators signal extremely bullish environment.

Since the pair has cleared major resistance levels decisively testing supports several times exactly at bottom of flag pole.

Hence, smart way to approach this pair is that follow basics, don't even dare to buck the trend.

Trade Tips:

Taking above technical reasoning into consideration, it is good to buy at every dip and give leveraging effect using 'One touch binary calls' with OTM strikes of 30-40 pips.

The payoffs of touch option has been conditional, if USDZAR             in this case would touch the OTM strike price within any time period by the time of expiration, if the investor predicts correctly and the asset touches the strike price the option expires "in the money".

This is likely to generate an exponentially high return of between 80-90% to the binary option investor.

Please be noted that this exclusively for speculative purpose only.
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