USDZAR-SELL strategy weekly chart

לפני 7 ימים

If we look at the decline in GOLD PRICE from the high to the recovery mode, i.e. $ 2,785 high to now current $ 2,680.. this is only a decline of 3.5%. the USDZAR is highly correlated with GOLD and the low 17.0300 area to the current price is an increase of around 12.5%. This obviosuly show misalignment, and adding a high USDX we should see the USDZAR back to around 18.50 atleast to correct the over statement.

Strategy SELL @ 19.0500-19.2500 (its medium term) and take profit near 18.5000.