The USD/ZAR pair is trading in the green at 14.970 level at the moment of writing but the current rebound could be only a temporary one if the DXY resumes its downwards movement. The pair dropped below the immediate uptrend line, so a deeper drop is in cards. Still, we’ll have to wait for confirmation before taking action. The price has managed to come back higher despite DXY’s sell-off. On Friday, the ISM Manufacturing PMI, Core PCE Price Index, Personal Spending, ISM Manufacturing Prices, and the Revised UoM Consumer Sentiment came in better than expected. If you want to try out forex day trading then read our guide before you start. Get FREE Forex Signals Now! US Factory Orders 1.2% Growth The Dollar Index is trading in the red even if the US Factory Orders registered a 1.2% in August versus a 1.1% growth expected and compared to 0.7% growth in July. The USD/ZAR could be moved by the high-impact US data during the week. Tomorrow, the ISM Services PMI is expected to drop from 61.7 to 59.9 points. From the technical perspective, its breakdown through the uptrend line signalled a corrective phase. Now it has turned back higher to test and retest the 23.6% retracement level, the weekly pivot point, and the uptrend line. Personally, I believe that a new lower low may activate a deeper drop. Free forex signals – Sell USD.ZAR at 14.849 Free forex signals entry price and take profit Instrument: USD/ZAR Order Type: SELL STOP Entry price: 14.849 Stop Loss: 15.138 TP1: 14.467 My Risk: 1% Risk / Reward Ratio: 1:1.32 Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Olimpiu Tuns Olimpiu Tuns Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms. View All Post By Olimpiu Tuns Forex Trading Signals share Read Next AUD/USD Price Tumbles After RBA, Risk-off, Ranging in 0.72 – 0.73 Saqib Iqbal 7 months The USD/ZAR pair is trading in the green at 14.970 level at the moment of writing but the current rebound could be only a temporary one if the DXY resumes its downwards movement. The pair dropped below the immediate uptrend line, so a deeper drop is in cards. Still, we’ll have to wait for confirmation before taking action. The price has managed to come back higher despite DXY’s sell-off. On Friday, the ISM Manufacturing PMI, Core PCE Price Index, Personal Spending, ISM Manufacturing Prices, and the Revised UoM Consumer Sentiment came in better than expected. If you want to try… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
