Get started
OT_Forex

Long USDZAR Daily

Long
U.S. Dollar / South African Rand (FX:USDZAR)  
OT_Forex  
FX:USDZAR   U.S. Dollar / South African Rand
Trend Analysis Chart Patterns Harmonic Patterns USDZAR Coronavirus (COVID-19) uptrend consolidation Forex pandemic
8
0
trendanalysis chartpattern harmonicpatterns usdzar coronavirus uptrend consolidation forex pandemic
USDZAR has recently entered a consolidation zone that concludes the is indecisiveness in the market mainly because of the corona virus pandemic.

An Ascending Triangle is formed that proves bullish movement to continue. Rising Volume combined with the ascending triangle indicates that Bulls will most likely win this round.

Another strong factor to consider is that USDZAR is in a uptrend and therefore a buy order makes more sense.

Take Profit targets will be recommended at R19.00000
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.