Expecting the 4th wave end soon and waiting for long.
Technically, the price is finishing the adjusted wave C with double bottom and reaches Fib 0.318 of the 3rd wave. Also, on weekly chart the head shoulder pattern leads the price go up.
On the other hand, SA has a non event SONA this week, unemployment rate remains at high level. I can’t see anything to support ZAR except for higher prices of commodities atm.
FOMC is coming and the hike rate won’t be long. Let’s see.
It’s my personal analysis and not for other investment purposes. Trade safe.
Technically, the price is finishing the adjusted wave C with double bottom and reaches Fib 0.318 of the 3rd wave. Also, on weekly chart the head shoulder pattern leads the price go up.
On the other hand, SA has a non event SONA this week, unemployment rate remains at high level. I can’t see anything to support ZAR except for higher prices of commodities atm.
FOMC is coming and the hike rate won’t be long. Let’s see.
It’s my personal analysis and not for other investment purposes. Trade safe.