This would be our last impulse on a short-term, but I would rather wait for a bounce in our big trend line (weekly) which is of high probability for a long up trend move.
The USDZAR is showing some strength. I expected some correction last week that never materialised and the trend seems to be strong. Price is in an area that previously showed some structure and the expected correction could happen this week. The TDI indicates overbought conditions. There is volume support for the down move with increasing volume and spread and...
Support was broken @ 14.073, now reaching for 13.1519 support.
usdzar on longterm weekly support + rsi bull divergence
With Gold showing some correction after a bullish move and a strong NFP one would have expected the rand to also have a good sized correction in price. However, the rand has strengthened and supported with some volume returning. The municipal elections have gone down with little incident and with some vote shifts shows that largely the democratic system is in...
Good morning Traders, This is our trading idea for the USDZAR as we anticipated down continuation for Last Friday selloff. Trading plan as per chart.
USDZAR is in a downtrend but it seems ready for a pullback with a possible bullish divergence. If the upper trendline holds i'm looking for one more wave down, otherwise the correction could be completed.
With Gold having a bull run the Rand promptly followed. The Rand broke the yearly PP and is showing some strength. Volume entered the market. There was a brief attempt at a short term correction last week but the Gold strength dominated and pushed the Rand through the yearly PP. In the coming week we can expect a short term pullback/correction in Gold and the...
USDZAR evening Comment: Following a lower plung during the NA session this afternoon. with the pair lost nearly 139 pip. The USDZAR pair continue's to move down in a strong BEARISH trend as it did for past Three Bearish days ( view Daily chart below ). On the other hand. USDZAR is holding well below the long term 200 days simple moving average (that's why we...
- 14.00 is a significant technical level - post Brexit, Emerging Markets are relatively more attractive destinations opening the way for $/ZAR weakness into 13.00, 12.50 and 12.30 With this is mind; Buy 14.20 and 14.05 TP1 - 15.40 TP2 - 15.75 In reversal look to enter 2x short below 13.70. Targets 13.00 and 12.30 in extension
.come to see 13.670 mum wait for you
Possible future breakout at either side of channel. Upside breakout more likely considering over valued position of Rand and JSE Glitch discovered on Sunday past.
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...
I see political unrest in S.A. settling heading into municipal elections on 3rd August. Whilst another review from ratings agencies is upcoming, Pravin Gordhan (S.A. finance minister) is doing everything in his (more than capable) power to bolster performance and mitigate risk. The recent boost in commoditie prices for gold and platinum should see south african...