Fundamental Quant Score: +33
- Retail sales grew to 1.2% showing consumer confidence in South Africa
- PPI breached forecsats by 0.1% which is healthy for producers
- Interest rate decisions had no signs of dovish action so investor money flow should continue flowing into South Africa
- Trade balance showing a huge surplus
- Daily Sell...
ZAR had a strong rally supported by fundamental news. I expect to see some profit taking, and change in positioning.
- 20 EMA was broken on 2h with a backtest
- 38.2 Fib retracement is a clear T/P zone