The Rand gained strength in the morning against the pound
Round about 5 in the morning - Price = 17.2335
Round about 6 in the evening - Price = 16.9790
Expecting the price to bounce back to between 17.1000 & 17.1500 by lunch tomorrow?
The market been going side ways for a while now whilst going (from the 8th till sate)
I suggest long sculpting for a shot period of time for every long opportunity?
USDZAR seems to consolidate on resistance now
It might drop to the psychological level of 13.000
In next 2 weeks
Be careful in trading this pair, its very dangerous
It can make you lot of money and it can take you lot of money
Trade with proper RM/MM and money Management
Good luck guys
In the event you were infatuated by BREXIT the big news was the opportunistic Chinese took the opportunity to devalue the Yuan on the same day. Under intense journalistic distraction, no one accused the Chinese of currency manipulation. This event makes it extremely clear that BTC can be used to foretell big FOREX moves. It foretold the giant Rand devaluation...
This is to update my previous view on where the Rand will go. The Municipal elections are approaching at the beginning of August which potentially could be the start of a political power shift in the country (or maybe not). However, I think there that investors sill be cautious in buying Rand before the election. With USD strength and resistance at the yearlPP we...
It seems the finance minister has been abruptly removed. Replaced with a little known politician. The rand seems to have dropped significantly, more so than reasonable and so I would say its devaluation is overstated. The fundamentals remain the same.
QUICK ANALYSIS:
A proprietary pattern I have discovered and named JANUS suggests a top at 14.50790 today. The Janus is one of several proprietary patterns I have discovered and use as adjuncts to my Predictive/Forecasting Model and geometries (Geo and Wolfe Wave). However, they are often used as third-place elements, as they carry a lesser probability weigh than...
