USDZAR evening Comment: Following a lower plung during the NA session this afternoon. with the pair lost nearly 139 pip. The USDZAR pair continue's to move down in a strong BEARISH trend as it did for past Three Bearish days ( view Daily chart below ).
On the other hand. USDZAR is holding well below the long term 200 days simple moving average (that's why we...
UsdZar has stalled on the 4hr support at the 12.80 area.
Price is being squeezed between the trendlines. Expecting a break to the upside.
A close above the 12.90 - 12.95 area will support my long bias.
Target 1 = 13.30
Target 2 = 13.60
USDZAR Short Opportunity
Not sure regarding this trade, Risk/Reward not that great considering the USD has been stable and ongoing political issues in South Africa.
Please Trade with Care.
USDZAR is in a downtrend but it seems ready for a pullback with a possible bullish divergence. If the upper trendline holds i'm looking for one more wave down, otherwise the correction could be completed.
USDZAR seems to consolidate on resistance now
It might drop to the psychological level of 13.000
In next 2 weeks
Be careful in trading this pair, its very dangerous
It can make you lot of money and it can take you lot of money
Trade with proper RM/MM and money Management
Good luck guys
USDZAR is about to makenews highs this and next week!
You can see perfect bounce from demand zone based on H1 timeframe,
Fibo 50% Price Reverzal Zone (PRZ) and supportive trendline.
If USDZAR will break Structure + Resistance + Trendline, we can see big move up in next weeks.
Keeps eye on that.
For the record: USDZAR and USDMXN are only exotic pairs I trade...
