The South African Rand appears to be in hot water. Long term technicals point to a correction which underpins an ever weakening rand over the next few years. The trend scores an obvious outflow of capital with low investment potential. Perhaps its time to retire the good old 'gravy train'? Good governance leads to strong investment. I wonder how that lesson...
Not much to say, everything on chart.. short for quick profit 1. Very strong resistance on fib levels, getting rejected everytime 2. long term bullish but enjoy the small dip expecting to 0.5 or 0.618 level dip Please hit "LIKE" to support and follow for more ideas on FX and Crypto :) Regards, Vinny
Interesting setup on USDZAR - Ratings decision on Friday Evening. For reference on setup - read this article . Inflection points identified in yellow shades, interesting volume profile on both the 30min and 1D. Thin volume at current price level, could help the velocity of the bounce! With thanksgiving in the US, we might see a turkey-shoot!! Anyway Juicy Setup@!
Price is approaching a significant demand level which was previous supply level Demand levels drawn are validated by volume
a basic view 44 is in a wedge waiting to breakdown or breakout nit have every support and resistance on the chart he also broken down a 1h uptrend line
USD/ZAR 1D Chart: Symmetrical Triangle The American Dollar is trading against the South African Rand in a symmetrical triangle pattern that started to form after a 12% appreciation of the buck in the end of May. At the moment, the figure consists only of five confirmation points, which means that the current formation might sustain up until October. On the...
Dollar recovery and political chaos in South Africa, might give a breakout. Technical ready, target 13.81.
The South African Rand seems to gain some traction against the greenback. It's expected that the South African Rand will strengthen to approximately R12/$. There is a possibility of a retracement to the support turned resistance at 13.2000 level which also corresponds with a 50% Fibbonachi retracement level on the 4 hour chart. If it doesn't pull-back, I'll short...
1 To go up if markets already priced in trump uncertainty post press conference. 2) To go down (forecast is actually conservative so, expect even lower reaches) if market hasn't priced in trump uncertainty. Trump has no real policies and markets may see this when he's confirmed. 2 seems most likely but things have been a bit weird around trump, so expect 1 as...
Let see how it goes, Im going against my initial thought .
Looking for break line either in up or down will follow the trend.
Look at the behavior around the resistance (blue line) and the flag