Since we last checked in on the South African Rand (ZAR) in June 2021, the currency was appreciating toward multi-year highs of 13.37 ZAR per US dollar, previously not seen since January 2019. In the proceeding five months, leading up to the present, the USD has staged a comeback against the South African currency and is now level with the average exchange value...
USDZAR is testing the long term 61.8% Fibonacci retracement after breaking some horizontal support, bears should take notice just in case we see a reaction from this Fibonacci level.
for a South African citizen, global assets are essential given the fact that the South African market only constitutes around 1% of the global market whilst the South African economy constitutes 0.4% of the global economy. Simply put, South African need exposure to assets which are susceptible to short term movements in the Rand.
The chart shows the ZAR/USD...
Market has made some recovery this month back near 15.000, this is pure speculation as we might see previous bear trade idea play out where market currently sits.
Which is more likely bulls or bears?
USDZAR: first they will sell their houses and belongings (for rands)
Ok well you know what I think about South Africa, what I said about it + reading between the lines + what I say about other places and the world in general.
It's simple the price moves because of what people are doing it's not magical.
Riots don't magically make the currency implode, it's...
So Far we Bullish Movement on this pair ( Monthly )
If the Rand strengthens we could see a drop in price or if the dollar does - we will see a price in the ZAR value
- Share your opinion in the comments below and support the idea.
Thank you for the support.
Guess it's time to follow up on my previous idea:
Body count is going up. Some officers (including high up) going full racist, for example one guy was saying the indians choose their camp (whites).
In a single raid over 1 million rounds were stolen, enough for a whole company to go to war (or capture more weapons).
SANDF getting chased by civilians, bah this...
You can see if we put both the DXY and USD/ZAR next to each other how well they correlate at the moment. Both charts have retraced respectively giving a strong narrative that if the DXY respects the trend and moves higher, that USD/ZAR will follow suite. The South African economy has taken a huge knock this week due to extended Covid restrictions but more...
Possible bounce off of support or a retracement before a continuation. Either way I see the Rand weakening against the Dollar due to the current state of the nation. Target 1: 15.00000 ; Target 2: 15.60000
The USDZAR pair is currently sitting in the consolidative blue triangle. As long as the DXY remains below 92.800 and platinum stays above $1015, I expect the pair to complete an ABC corrective pattern.
A break above the 200-week MA rate of 14.59 could however see the pair move into the range between 15.50 and 16.00.
The fundamentals that drove the rand stronger in...
Medium-term bullish trend still seems to be intact for the USDZAR, after its recent weaknesses (strength in the US Dollar). It currently finds itself back at the 50-day Moving Average (EMA), with a break and close below R14.07, bringing back the strong support level at R13.95. This is a strong support level, with a break lower, most probably bringing back R13.50...
If price finds a way passed the current daily support. Price will fall down to the 12.100 - 11.000 range in the months to come.
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With all the tension happening in the US stock markets it could have a severe impact on South African markets as well. This is an analysis of the JSE TOP 40. If inflation goes up enough in American markets the federal reserve could take actions to raise interest rates, meaning higher rates reduce stock valuations because why? They weaken the present value of...
The strength in the rand is partly due to the high demand in commodities of which South Africa is a large exporter. It is also partly due to the fact that South African government bonds are offering high real yields compared to that of its peers. These factors feed the demand for the rand and thus resulting i a stronger currency. There is also the case of a...
