The forecast for the GBP/ZAR remains bullish after this currency pair finished a minor correction. Can bulls take advantage of upside pressures and force the GBP/ZAR into its next horizontal resistance area? Check the Links on BIO and If you LIKE this analysis, Please support our page by hitting the LIKE 👍 button Traders, if you like this idea or have your own...
With today's price action so far, JSE:BID seems to be showing some good downward momentum. Based off of the EMA's crossing today as well as the stochastic and MACD moving downwards it looks like a downward move is on the cards. I predict that it could move down to the 28000 support level which would coincide with the support level around the 200SMA.
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
I have bought USDZAR. FX:USDZAR Civil unrest has erupted in South Africa after the arrest of former president Jacob Zuma. The currency pair has been in a downtrend since April 2020 and has just broken the downward channel to the upside. I prefer trades with such a confluence of factors working in their favor. Let's see how this plays out. - Sure Capital
JSE:BVT is sticking with the upward trend and has, once again, made a bounce off the upward trend line. Along with this, the stochastic, MACD and EMAs are all showing signs of upward momentum. I think we could see a move up to the previous resistance level at around the 22000 area.
JSE:AVI has bounced off of the support level at around 7000 numerous times since early 2020. It is struggling to make lower lows, so my prediction would be that it continues upward towards the 7550 area or at least to around the 200SMA.
JSE:GFI bounced off of the strong support at around the 12700 level last week. In the past, it has gone up from this level. It is currently at another resistance level and if it breaks through that, I think it will go upwards for a nice long position.
JSE:SSW is showing some signs that it might be moving upwards for a bit. This is based on the EMA's crossing and the position of the stochastic and the MACD. It is, however trading in a downward parallel channel, so it might bounce off of the top of the channel and come down again. Bear this in mind when setting targets for this trade.
JSE:AGL seems to be making an upswing at the moment. It recently formed a higher low and now with the EMAs crossing which was preceded by signals from the Stochastic as well as the MACD - I think we could see the upward momentum continue possibly all the way up to the resistance at around the 63500 area.
JSE:AMS is looking good for a long position based off of our 3 momentum indicators. It has also recently found support and bounced nicely off of the 200SMA. I think we could see a nice upward move to at least the 180000 level and if it doesn't find resistance there and breaks through it could go all the way to around the 200000 level.
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...
Would love to see a nice breakout, with usd strength chiming in the market. #BLESSEDPIPS
With 10year treasury yields under pressure, high inflation, with expectation of a higher inflation print this coming Thursday, together with a weak dollar, this inverse head&shoulders pattern (hourly graph) has a very high potential of taking gold even higher. Together with the ZAR that has reached a short-term bottom, I am bullish on gold miners having another bull run.