USDZAR - Short Potential

Short

U.S. Dollar / South African Rand (VELOCITY:USDZAR)

VELOCITY:USDZAR U.S. Dollar / South African Rand

trendanalysis usdzar velocity velocitytrade forex zar usd

USDZAR is showing signs that it might be heading downwards. Although none of our indicators have crossed just yet, if the price action continues downwards we could be looking at a nice downward move. I have set the take profit to 1:2 Risk to Reward. I think that is pretty aspirational, so if the trade is triggered, I will monitor it and adjust the stop loss accordingly.

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