ForecastCity

Two buy opportunities on this chart for USDZAR

Long
OANDA:USDZAR   U.S. Dollar / South African Rand
Mid-Term Forecast:

Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (16.545). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Technical analysis:
. USDZAR is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 53.

Take Profits:
TP1= @ 17.2610
TP2= @ 17.7630
TP3= @ 18.6940
TP4= @ 19.3420
TP5= @ 21.4450

SL= Break below S3
--------------------------------------------------------------------------------------------------
Short-Term Forecast:

Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (16.784). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Technical analysis:
. USDZAR is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 55.

Take Profits:
TP1= @ 17.2610
TP2= @ 17.5260
TP3= @ 17.7655
TP4= @ 18.1270
TP5= @ 18.6915

SL= Break below S3

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Comments

Excellent and Comprehensive analysis.
+4 Reply
ForecastCity yusufipek1989
@yusufipek1989, We appreciate your comment.
+1 Reply
ForecastCity yusufipek1989
@yusufipek1989, Glad you like it.
+1 Reply
Nice idea.
+3 Reply
ForecastCity Mesutkashmar
@Mesutkashmar, Thanks for your comment
+1 Reply
Good choice. 👍
+2 Reply
ForecastCity Pro_Trader_007
@Pro_Trader_007, Thanks for your comment
+2 Reply
ForecastCity Pro_Trader_007
@Pro_Trader_007, We hope you enjoy it.
+2 Reply
I L ♥️ vE your Road Map Awesome style ♥️♥️♥️
+1 Reply
ForecastCity ali088922
@ali088922, Thanks for your kind comment. 👍
+2 Reply
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