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InvestingScope

USDZAR: Long term Channel Up preparing the final rally.

Long
U.S. Dollar / South African Rand (FX_IDC:USDZAR)  
InvestingScope  
FX_IDC:USDZAR   U.S. Dollar / South African Rand
Trend Analysis Chart Patterns Technical Indicators USDZAR USD ZAR DJ FXCM Index southafricanrand Forex forexpairs usdzartrading forextrading
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trendanalysis chartpattern indicator usdzar usd zar usdollar southafricanrand forex forexpairs usdzartrading forextrading
USDZAR is trading around the 1D MA50 on neutral technicals (RSI = 45.374, MACD = -0.003, ADX = 21.007) but on a long term Channel Up for the past 2 years. This current consolidation has been the accumulation period in the two bullish legs prior before the final rally to a Higher High. This is our buy entry and we aim at the top of the Channel (TP = 21.000).

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