A bullish engulfing candle formed on JSE:REM with yesterday's price movement and a long position was triggered today. we are looking at a target around the R153.50 level.
A head and shoulders pattern has formed on JSE:CFR . The neckline is ascended slightly, but I think it has a fair chance of playing out. The target is down at the R89 level.
The exotic pair of the U.S. Dollar to South African Rand (USD/ZAR) has not correlated strongly with other USD pairs since this year.
In fact, the USD is down 1.3% against the ZAR since the beginning of the year, all the while, the USD index has been super bullish, up 6.1% YTD.
While performing better than the GBP, EUR, and other major partners, the USD is still...
JSE:AGL has triggered a long position with today's movement. The stochastic, MACD and moving averages have all crossed upwards, signaling the upward momentum.
The USDZAR pair is replicating the previous Cycle of 2016-2019 and right now is at the final Accumulation Phase before the rally to a blow-off top. What the comparison suggests, based also on the 1W RSI (attention the price action is on the 1D time-frame though), is that we may soon see a pull-back towards roughly 15.100 to September and then a strong finish to...
Helloooooo traders....USDZAR showing signs of a drop coming most probably during NY session. Keep a lookout for a reaction at price 16.3000 for a fall. Risk small....happy trading.
JSE:SOL is showing all of the signs for a short position. EMAs, MACD and Stochastic have all crossed downwards. Looking for a move downwards towards the 302 level
It looks like the #USDZAR South African Rand will test R16.70 in the very near future.
If this happens, brace yourself for even a weaker Rand.
However, slide in Rand is also because of falling commodity prices.
This fall may be at a turning point right now with the dollar that might have reached a top which will boost commodity prices.
Thus, short term forcast...
A short has been triggered on JSE:EXX this morning slightly below our desired level as it gapped down with the opening. We are looking for a move down to the 176 level.
I see confluence forming as the price moves above the Moving Average, look and see if price action breaks past 0.218 fib, if it does, proceed with a long. Check FIB levels.
