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U.S. Dollar / South African Rand

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USDZAR trade ideas

USDZAR-SELL strategy 3 hourly Reg. ChannelThe pair spiked and the "cautious" SELL idea did not pan out as we never had the break of 17.7500 support area. Right now, we are at the top of the channel, and even though it may spike above it, gravitational forces may likely drag it down again, as we are slightly overbought as well and a return towards 17.80s is possible. The USDX moved higher as well, but similarly it is slightly overdone. Strategy SELL @ 17.9650-18.0500 and take profit near 17.7800-18.8050 area. Medium-term still am seeing higher (see my 3D chart few days ago).
Short
by peterbokma
2
USDZAR-BUY strategy 3D chart The pair is still on the BY side, even though short-term charts may suggest slightly lower. The issue is, that any involvement by US may cause a spike of US dollar, and technically the pair has a chance to correct to 18.4200 FIB before we see recovery. So be careful, and perhaps the BUY side may help in this case, and I feel it starts looking this way as I had written some week back on the same chart settings. Strategy BUY @ 17.9650-18.0150 and take profit near 18.3750 for now.
Long
by peterbokma