USDZAR - A Rare Gem

USDZAR not our a common pair to be traded but currently it is providing a High Probability Short Setup. USDZAR has been moving long for last few weeks and it testing highs of previous years (2008). With strong rejection at strong resistance provides a High probability Short setup with Great potential of Green pips. Be weary of high spread on this pair and keep your SL tight.

Outlook Short


Sardar Uddin
TradeCuts


Is it a “strong res”, because see those wicks on the MN1 chart?!

Hi Sardar, this looks almost certain. Nice pinbar on the rand there

Hi Sardar, what indicator are you using to show Support and Resistance?

I dont use any indicator
I draw them my selves.
we post analysis for multiple pairs on our website if you are interested

You can see price rejection from this area in past, confirming strong resistance.

Well spotted trade, I am also looking at trading this pair.