Short USDZAR - Gold bullish and USD uncertainty
With gold looking bullish on the daily and broken past the previous resistance alongside the risk of a second wave of coronavirus in the USA. Investors/traders will be looking at the safe haven of gold to see through the storm. USDZAR having a strong correlation against gold should continue the sell off of USDZAR.
Worth noting that Coronavirus has spiked in SA aswelll which will add to the risk of this trade.
Worth noting that Coronavirus has spiked in SA aswelll which will add to the risk of this trade.
Aviso legal
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