Prons: 1. EUR/USD has potential to weaken - the price now is inappropriate to conditions in Euro Area - flat GDP which can negatively affect CPI in the future, 2. CPI is still far from ECB inflation targets - it will take a time to be confident about inflation growth and GDP, 3. Commodities like Gold have potential to growth in the future - it will positive affect on South Africa economy (gold exporter), 4. Good positive swap - additional profits from holding position EUR/ZAR.
Cons: 1. Risk from changing ECB monetary policy - it could positively affect euro price.
Presented Idea is only an assumption, one of many possibilities which can happen. Always invest consicously. The price can do anything at any time.