The support level of 18.01 held its ground last week and the rand has been on the backfoot so far this week. The pair climbed to a high of 18.33 (the support turned resistance on the 23.6% Fibo level) on Monday. Although the rand managed to pull the pair lower onto the 50% Fibo level at 18.11, I believe there is further losses on the cards for the rand as the week...
HELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GREAT WEEKEND. HERE'S A LOOK AT POSSIBLE SCENARIOS THAT COULD PLAY OUT ON THE DOLLAR/ ZAR IN THE COMING WEEK. USD/ZAR CLOSED LAST WEEK WITH SOME STRONG MOMENTUM TOWARDS THE DOWNSIDE SIGNALLING SO MOMENTUM SHIFT LEAVING BEHIND BEARISH FVG. * We have swept previous week high and multiple day candle rejections at...
Yesterday’s pullback was a bit deeper than expected following the US initial jobless claims result. The US jobless claims came in higher than expected and coupled with the lower-than-expected US CPI results from earlier this week, markets are betting on a Fed rate pause sooner than initially anticipated. My record of trying to predict the Fed has been poor so I’ll...
The USDZAR pair completed an ABC corrective wave at the end of March after the higher-than-expected 50bps rate hike from the SARB allowed the rand to pull the pair into the support range between the 50%- and 38.2% Fibo retracement rates at 17.68 and 17.92, respectively. Since the start of April, the dollar (DXY) has found some support in the range between 101.36...
usdzar reached strong zone and i hope perform its role RR: 1:6 Entry:18.46 Target:17.51
With the global economy showing more resilience and the Fed slowing its pace of tightening, we believe EM currencies can outperform relative to G10 peer currencies this year. Attractive real yields should result in market participants accumulating exposure to developing currencies, while our assumption for contained banking sector stresses should lead to improved...
I am not really going to go heavy on this because tomorrow is NFP so I'm protecting my capital. This is what I'm seeing but will wait for the next few candles before deciding what I will do.
We hit TP and we move. Clear your charts and start analysis and forecast all over. Well done, if you reached your daily target even better.
Still running, but move SL into TP (According to your trading plan & goals). Dollar gaining back some of the strength it lost but as more and more talks go on about the one currency idea, we could see a further move down.
The market has been favourable after the announcement of the consideration of one currency. Last week we saw the Dollar take a hit and the Rand gain a few muscles. With this we go in with a smile but with caution because our Repo Rate was also adjusted so the gains are not necessarily the best of options.
usdzar ready to big drop are you ready for big bearish
The SARB will release their latest interest rate decision on Thursday and expectations are pointing to another 25bps hike which will push the repo rate to 7.50%. I haven’t posted an idea on the pair in quite a while but a whole lot has happened since my last idea. March has been a very turbulent month for the local unit, but the rand is holding up relatively...
Hello with the Feds rate decision in play we see that the Rand is getting stronger. Going down to 4hr Support level. One of two things could happen here 1. The rand could reach up again to close the future value Gaps noted on the 1hr timeframe. This will suggest that the dollar will recover. We will have to monitor the movement in this zone. 2. We could see a...
We are here unfortunately here but we saw it coming and we are sharper today than we were yesterday
USDZAR Has been in an impulse phase and it has been completed with no rules violated. We are in the bearish phase of the market, we have two counts going on where it could be an impulse in the downside suggesting a long-term sell-off or a short-term sell-off as a correction meaning we are trading in a wave (C) instead. The idea of an impulse is a little complex...
USDZAR is one of my safe heaven pair, i trade it once in a while, here is my daily target for today, jump on the bag if you seeing this..
I really hate that this is what I see but as a manager of capital, therefore feelings need to be cut out and discarded. (I am hoping to be wrong) Yet I see this and will wait for a right shoulder to complete. Then a break in the neckline, a last kiss and impulsive bullish candles then we find an entry and ride the whole way.
It pains me to say our USD/ZAR trade hit the take profit level at R18.48 and now it looks like further upside for the USD is on the way. Another Cup and Handle has formed, which has broken above the neckline. And if we place the stop loss below the handle, we get the next target at R19.71. 7>21>200 RSI>50 Target R19.71 With interest rates on the rise in...