Bad news in South Africa (power utility troubles caused the price to rally extremely high). The situation is somewhat normalized as of now but insolvency issues for the power utility company still persist.
RSI shows super overbought so expect a drop sometime soon after slightly more uptrend and perhaps sideways.
This is...
Sometimes i just get really scared of myself :) Anyway, so far going almost perfect. The entries are already in since the bounce up was so strong this time. I have added a third entry for this game plan, that is if we see a daily close above that red zone, i will add even more to this position if we see something like a bull flag happening.
If this plan works...
Please see my related post linked below as you proceed with this analysis. Recently, from a fundamentals standpoint, the state of the economy at South Africa has recently come into question ahead of May's election. Today, a severe power cut (Escom) has been put in place, which has added more uncertainty to the woes of the already troubled rand.
Three things to...
Here is my idea about the USDZAR based on my trading system.
hope this helps and I'll be happy to hear about my mistakes!
Target: 0.43%
Stop Loss: 3.79%
Risk/Reward Ratio: 8.7
Ok...so now the alarm bells are ringing loud and clear. First trend line broken and now flirting with the major bullish trend started September last year. As mentioned via my 7 Feb idea, the trend still seem to be intact, with the 50-day moving average still getting closer and closer to the 200-day (possible inverse golden cross - I just don't want to call it a...
$ZAR in its 2nd week after completion of a 26 week cycle low.
The good times for the $ZAR lasted just for a short while.
The $ZAR will look for a cycle high.
The 50 and 200 SMA in Support.
No huge alarm bells yet for the $ZAR (compared to USD), but definitely something I'll be monitoring in the next few days. At around R13.80-R13.85 I will get worried. Over the long-term I still believe the ZAR is fairly valued at R12.50/USD. For now it clearly seems that the world likes the #SONA2019 thus far.
The U.S. Dollar vs. the South African Rand. The Rand was and became legal tender in the late 50’s to early 60’s for South Africa, Swaziland, Lesotho and Namibia after moving away from the Pound. After the apartheid era sanctions the Rand experienced a great deal of volatility and depreciation.
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