looking at the graph wont be the way to trade the rand(zar) anymore. south africa is falling like venezuela, moody will downgrade it to junk status soon. only way now is to short it...here is few reasons which you can look up yourself. every state owned company is in dept(some of them billions of rans) and already got bailouts that caused hike in taxes and petrol. 38% people are unemployed(state claims its still at 28%), 33% of our municipalities is bankrupt and couldn't pay its workers since end July. the richest man in south africa (his taxes alone equals 30% of tax paid in south africa) threatened to leave if the people don't stop attacking him. this was 2 weeks ago. this weekend they broke into 1 of his factories stealing more than R 300 million worth of jewelry.that should be final straw for him..can't see any reasons not to short at the moment. obviously only my opinion ;) p.s. skilled people emigrating at record rates..not looking good at all.
MohammadAli2019
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@wollyZA, I respect your opinion but there are some technical reasons that motivate me to sell the pair intraday not swing and in all cases must be put stop loss