USD/ZAR bounced off the 61.8% fib on the weekly chart. Possible head and shoulders, pattern is forming, with price extending to 61.8% fib level on the daily chart in the short term. Also the economic and political conditions in South America forecast a deterioration of the Rand, and a turn to the USD for safety. This trade is for demonstration and educational purposes. Trade at your own risk.
TP 1: 14.82921
TP2: 15.03469
TP 1: 14.82921
TP2: 15.03469
Trade active:
TP1 Hit!
Trade closed: target reached:
TP2 Hit!