Despite USD weakness the Rand promises to be stiff competition with impending downgrade to junk status. The drought is receding, the economy is stagnated and the consumer is exhausted. Inflation prospects appear muted. Without further rate increases there is no incentive to foreign funds here.
Fundamentally SA has established itself as a phase III banana republic. Playing pseudo democracy via tribalism to the applause of the the blind liberal twits of the planet whilst buying voter favor via social hand outs that serve to increase debt and childbirth in a climate of economic decay and top down corruption. Recent riots for free and easy university...
1 To go up if markets already priced in trump uncertainty post press conference. 2) To go down (forecast is actually conservative so, expect even lower reaches) if market hasn't priced in trump uncertainty. Trump has no real policies and markets may see this when he's confirmed. 2 seems most likely but things have been a bit weird around trump, so expect 1 as...
A really solid setup here. The 13.6394 level might be achieved to the downside prior to the move higher that is coming. If so, that would be an ideal level to get long for a bullish move higher to the 13.8866 level.
FX:USDZAR Safe Trades;
Double bottom and Descending channel = BULLISH Long on a close above 14.50, first target 15.50
Our pivot point is at 13.4600. Our preference:our next up target stands at 15.2340. Supports and resistances: 15.9530 ** 15.5930 * 15.2340 ** 14.8750 14.1551 last 13.6920 13.4600 ** 12.8660 * 12.5130 **
Political risks weigh in on the South African Rand and should the country be downgraded this 2nd of December the USDZAR can extend its prior rally to the 18.0000 - 20.0000 level.
Long USDZAR position seems prudent here as long term trend line support should help push price action higher. Looking for a bullish move to develop here soon. This is not a Premium member trade alert.
Downward ABCD move is completing. Could see strength coming at above 15.20 level or see slight pullback toward the trendline and then move up.
Look to buy at 127.2% retracement or 161.8% retracement of BC