IM BORED AND JUST WAITING FOR
THE NEW INSTRUMENT BRICS COOKING UP
Zambia been making some impressive economic moves so i am expecting the nas type beating to end
but i am a technical guy so
I am still bearish on our currency against the US dollar as it is conforming to the analysis that was made back in September last year . the break and pull back of the trend line leaving a zigzag correction is so bearish, on the 38.2% fib retracement.
USDZMW hit k22.94, A record high on July 2021. This high completed five waves at minor degree (bull market). USDZMW has since been in a bear market to correct the Impulsive bullish period from 1997. The decline after July was expected to be aggressive as it typical after a market hits the record high and the five wave is extended. The rally from August 2021 to...
Now this is by no means financial advice but mere analysis. When I saw price break the Daily Support at 17.63 , my immediate anticipation was we’re going lower.
Depending on what happens today at the Daily Support & Resistance (16.95) I believe it will reject and hold around that area for a while or it could right off break through and right for 16.4
As predicted if price breaks K17.88 we'll continue to see a further sell side liquidity to K15.44 as we can already see a break in market structure as the kwacha strengthens.
USDZMW has always been in a bullish trend since 1998, its now consolidating between K18-K19 per Dollar , we may expect a minor retracement to atleast K15.43 in moths to come before the the continuation with the trend may or it may just continue to the upside .
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As commodities & metals start to recover on the international markets, commodity currencies are likely to gain significantly against
the greenback.
USDZMW shows that we now starting to retracte once the bearish weekly candle is filled , will continue to go down for weeks and price is likely to fall back into the channel but will start to make the next implusive wave once it reaches 0.618 fib zone .This shows that the kwacha will may never go below K15, for some time or even years to come unless we see major...
Nice bearish engulfying on USDZMW, I expect the Zambian Kwacha to appreciate even further as the US dollar weakens.
See my Fisrt call on buying some Kwacha and Selling the dollar here.
I think it's time to short the dollar and buy some Kwacha.
Price perfectly bounced off the 200% fib level (K18.94 / $1) on the monthly time frame matching up the same price at 261.8% fib level on the weekly time frame.
Going long term, I am seeing a week dollar and some Kwacha appreciation.
I expected the Kwacha to appreciate to about K17/$1 and K15.41/$1 IF...
On the daily time frame, price is completing the impulsive wave. Once complete, some correction should be expected (wave c to d) which will lead to the next impulsive wave of the daily channel (wave d to e).
This has been a perfect play - out for several months. Price seems to have broken out of the prominent yearly channel with a strong impulsive wave. If the DXY closes above $100 this month, I expect the Zambian Kwacha to depreciate even further to at least K20.21 / $ 1 (CASE 1). If the U.S. dollar index closes the month below $100 however, I will expect the second...
