According to experts, this exotic pair is recommended for trading, but if you choose it, you should adhere to the following recommendations.
First, the EUR/ZAR pair is the most traded on the European market. This means that a trader can follow the maximum market movement and use more opportunities during London trades. There are many opportunities here. On a busy day, you can expect EUR/ZAR to range from 16.9000 to 17.0000, and a movement of 100 points will be observed without fail. Since each item is valued at a small amount, you can aim for a higher target profit with each transaction.
When trading EUR/ZAR, you need to use the right risk management strategies. When trading EUR/ZAR, a trader cannot use the same set of trading rules and tactics that he or she uses with EUR/USD. You need more flexibility In the euro versus rand pair when it comes to risk management, mainly because with every move of the market there is a little risk.
This, in turn, allows a more flexible approach to the currency pair. Knowing that the margin will not be caused if the market needs more time to recover from a change in direction, you can use averaging and hedging in a more flexible way.
Risk management also means restricting transactions of a currency pair that an investor trades. Usually brokers facilitate risk management. With a relatively limited start-up capital, the trader has more options when it comes to position sizes. For example, you can trade more than 10 lots with the right amount of margin and leverage.
News and statements about the economy of South Africa are still very important. They tend to have a significant impact on the movement of the EUR/ZAR market, therefore, before large economic statements, you should pay attention to your platform graphics.
Rapid changes in the exchange rate of the pair are not unusual. At the same time, to see a model and understand the general direction in which the market is moving is not at all difficult. And if you add the fact that most reputable brokers have very reasonable spreads, then EUR/ZAR can be considered very promising for analysis and trading.
Unique pairs, such as EUR/ZAR, are always interesting for traders, whether it is an experienced or beginner trader. Regardless of the trader’s initial bankroll and its investment objectives, it can be said for sure that EUR/ZAR trading will be manageable and incredibly profitable.
|AUD/CAD||Course Australian Dollar to Canadian Dollar||3.8||0.9234|
|AUD/CHF||Course Australian Dollar to Swiss Franc||3.7||0.68988|
|AUD/JPY||Course Australian Dollar to Japanese Yen||29.8||85.609|
|AUD/NZD||Course Australian Dollar to New Zealand Dollar||3.2||1.04449|
|AUD/USD||Course Australian Dollar to US Dollar||2.7||0.74737|
|CAD/CHF||Course Canadian dollar to Swiss franc||3.9||0.74695|
|CAD/JPY||Course Canadian dollar to Japanese yen||3||92.69|
|CHF/JPY||Course Swiss Franc to Japanese Yen||4||124.068|
|EUR/AUD||Course Euro to Australian Dollar||3.3||1.5559|
|EUR/CAD||Course Euro to Canadian Dollar||3.4||1.43695|
|EUR/CHF||Course Euro to Swiss Franc||3||1.07356|
|EUR/DKK||Course Euro to Danish Krone||5.2||7.44015|
|EUR/GBP||Course Euro to British Pound||2.8||0.84322|
|EUR/JPY||Course Euro to Japanese Yen||3.4||133.219|
|EUR/MXN||Course Euro to Mexican Peso||37||23.532|
|EUR/NOK||Course Euro to Norwegian Krone||40||9.70973|
|EUR/NZD||Course Euro to New Zealand Dollar||7||1.62532|
|EUR/PLN||Course Euro to Polish Zloty||25||4.58485|
|EUR/RUB||Course Euro to Ruble||73.3||82.4767|
|EUR/SEK||Course Euro to Swedish Krona||37||10.0344|
|EUR/TRY||Course Euro to Turkish Lira||12.5||10.8156|
|EUR/USD||Course Euro to US Dollar||2.5||1.16303|
|EUR/ZAR||Course Euro to South African Rand||5.5||16.8814|
|GBP/AUD||Course British Pound to Australian Dollar||5.9||1.84491|
|GBP/CAD||Course British Pound to Canadian Dollar||6.8||1.70386|