USD/ZAR is sitting below key fibo level and 50-dma at 18.04. Strategists at TD Securities open a long position on deep rate cuts and negative outlook. Key quotes “USD/ZAR is venturing in the lower half of the RSI range, towards oversold. The pair sits just below the 18.04 key fibo level and the 50dma. We look for a rebound higher.” “We open a long USDZAR position in our model portfolio, with inception at 17.92 and target of 18.45. We set a stop at 17.65.” “We expect real GDP to contract by 8.5% in 2020. The SARB, however, expects a contraction of 6.1% this year. It is very likely that there will be a further downside revision at today’s MPC meeting of the SARB, while acknowledging strong disinflationary forces, which will justify a 50bps, if not larger, cut today.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/JPY Price Analysis: Scope for extra gains to 119.00 FX Street 2 years USD/ZAR is sitting below key fibo level and 50-dma at 18.04. Strategists at TD Securities open a long position on deep rate cuts and negative outlook. Key quotes “USD/ZAR is venturing in the lower half of the RSI range, towards oversold. The pair sits just below the 18.04 key fibo level and the 50dma. We look for a rebound higher.” “We open a long USDZAR position in our model portfolio, with inception at 17.92 and target of 18.45. We set a stop at 17.65.” “We expect real GDP to contract by 8.5% in 2020. The SARB, however, expects a contraction… Regulated 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.
