USD / ZAR | Dollar and South African Rand Trading Analysis

USD / ZAR | Dollar and South African Rand Trading Analysis

Written by: PaxForex analytics dept - Tuesday, 31 March 2020 0 comments

The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.

If the level of resistance is broken, you should follow the recommendations below:

  • Timeframe: H4
  • Recommendation: Long Position
  • Entry Level: Long Position 18.0700
  • Take Profit Level: 18.2200 (1500 pips)

If the price rebound from resistance level, you should follow the recommendations below:

  • Timeframe: H4
  • Recommendation: Short Position
  • Entry Level: Short Position 17.7500
  • Take Profit Level: 17.7000 (500 pips)

USDJPY 
A possible short position in the breakdown of the level 108.00

EURUSD 
A possible short position in the breakdown of the level 1.0980

USDCHF
A possible long position at the breakout of the level 0.9640

GBPUSD
A possible long position at the breakout of the level 1.2420