USDZMW has always been in a bullish trend since 1998, its now consolidating between K18-K19 per Dollar , we may expect a minor retracement to atleast K15.43 in moths to come before the the continuation with the trend may or it may just continue to the upside .
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As commodities & metals start to recover on the international markets, commodity currencies are likely to gain significantly against
USDZMW shows that we now starting to retracte once the bearish weekly candle is filled , will continue to go down for weeks and price is likely to fall back into the channel but will start to make the next implusive wave once it reaches 0.618 fib zone .This shows that the kwacha will may never go below K15, for some time or even years to come unless we see major...
I think it's time to short the dollar and buy some Kwacha.
Price perfectly bounced off the 200% fib level (K18.94 / $1) on the monthly time frame matching up the same price at 261.8% fib level on the weekly time frame.
Going long term, I am seeing a week dollar and some Kwacha appreciation.
I expected the Kwacha to appreciate to about K17/$1 and K15.41/$1 IF...
On the daily time frame, price is completing the impulsive wave. Once complete, some correction should be expected (wave c to d) which will lead to the next impulsive wave of the daily channel (wave d to e).
This has been a perfect play - out for several months. Price seems to have broken out of the prominent yearly channel with a strong impulsive wave. If the DXY closes above $100 this month, I expect the Zambian Kwacha to depreciate even further to at least K20.21 / $ 1 (CASE 1). If the U.S. dollar index closes the month below $100 however, I will expect the second...