USDZAR Long

- 14.00 is a significant technical level
- post Brexit, Emerging Markets are relatively more attractive destinations opening the way for $/ZAR weakness into 13.00, 12.50 and 12.30

With this is mind;

Buy 14.20 and 14.05
TP1 - 15.40
TP2 - 15.75

In reversal look to enter 2x short below 13.70. Targets 13.00 and 12.30 in extension

Kommentera:

$/ZAR at 13.88 (hellz bellz). The existing trade can break even on reversal

For those looking for shorts; i noticed this 5 wave after posting this setup

Kommentera:

$/ZAR made a 13.77 fractal low and trades higher. Expecting resistance into 14.20.

On the lookout for the level of the next low which should be a higher low.

Trade stängt manuellt:

Setup breaks even on reversal at 13.27

Looking forward potential for 13.00 remains. Expecting 13.60 while 13.20 holds.