FX.co ★ sabrina.fay | USD/ZAR

Hello traders, The USDZAR pair spent the week overall in moderate growth, with the usual deep corrections. One of which is currently forming and seems to have just begun judging by the last candle. It doesn't look like there was much to take profit on for buyers, as prices didn't rise very high. Buying is more preferable at the moment, even with the deepest corrections resembling typical zigzags on a large scale. However, the northern movement has been going on for quite a while, since the end of February, enough to identify it as a good medium-term trend. I haven't seen any signs of completion yet, so it's still possible to benefit from long positions in general, and I welcome such an attempt. It's better to open positions around 16.92 approximately, with a target area around 17.19 roughly. At the next such step, it's really possible to make a good profit, and the probability of its formation is quite high, as the dollar is unlikely to show much weakness.