ForecastCity_ME

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
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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

Fantastic graph and comments
+2 Reply
ForecastCity_ME Mesutkashmar
@Mesutkashmar, Thank you for your feedback
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ForecastCity_ME Mesutkashmar
@Mesutkashmar, Hope you get the most out of them
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Thanks for these posts. Very helpful.
+2 Reply
ForecastCity_ME yusufipek1989
@yusufipek1989, We are glad you found them helpful
Reply
ForecastCity_ME yusufipek1989
@yusufipek1989, Hope you get the most out of them
Reply
Excellent analysis. Keep it up 👌
+1 Reply
ForecastCity_ME Mehmetozdemi
@Mehmetozdemi, Thank you for your comment
Reply
ForecastCity_ME Mehmetozdemi
@Mehmetozdemi, We appreciate it
Reply