The Rand has been in a Long Term downtrend. After breaking out a rising channel, which looked corrective, it now appears ready to resume lower.
Maybe soon, It can keep pulsing down, but a buy on a good breakout might not be a bad idea!
With dismal GDP recently announced and a possible downgrade coming VERY SOON (rumors), I am long this pair going into the weekend. Stop below 12.50 target 13.40
The weekly graph reflects the perspective of the longer term trends. This is the long term view related to my daily study of the AUDZAR.
USDZAR Seems to have formed a downtrend. We will be looking for a final push down to the 12.64 area before the pair becomes bullish.
USDZAR seems to consolidate on resistance now It might drop to the psychological level of 13.000 In next 2 weeks Be careful in trading this pair, its very dangerous It can make you lot of money and it can take you lot of money Trade with proper RM/MM and money Management Good luck guys
We have a long-term downtrend. For sale, we can use rollbacks up or models to continue the downtrend.
Target - 13.8000 levels. Saw a knee jerk reaction today due to "strong dollar" comments by Trump, amplified by local political news in South Africa. I see a pullback here.
Consumer Price Index Non-monetary policy's ECB meeting Current Account n.s.a
Finally the bounce up I've been waiting for several weeks now. Going long with TP near 15.000 after the S&P downgraded South Africa's debt to junk status. www.dailyfx.com D: W: Confidence: A (with USD index chart beginning to show signs of recovery and weaker ZAR after the downgrade, technicals aligned with fundamentals and sentiment)
SARB Interest Rate Decision Wholesale Inventories Goods Trade Balance Redbook index (YoY) S&P/Case-Shiller Home Price Indices Richmond Fed Manufacturing Index FOMC Member Kaplan Speech FOMC Member Williams speech