DXY, EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CAD
ISHARES MSCI EMERGING INDEX FUND, SPDR S&P 500, GENERAL ELECTRIC COMPANY, PACIFIC GAS & ELECTRIC CO., ADVANCED MICRO DEVICES, INC., SPDR SELECT SECTOR FUND - FINANCIAL
S&P 500, Nasdaq Composite, Dow 30, Nikkei 225, DAX Index, FTSE 100
Gold, Silver, Crude Oil, Natural Gas, Corn, Bitcoin
BTC/USD, ETH/USD, BCH/USD, XRP/USD, LTC/USD, ETC/USD
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
Gold, Brent Oil, Crude Oil, CFDs on Natural Gas, Palladium, Silver
The zar has a strong correlation with both RIO and BHP two large gold mining companies with major assets in SA. Both of these companies have strong bullish trading symbols as gold is becoming more of a buy as the dollar weakens (gold is a safe haven for dollar holders).The USD is dropping surrounding a lot of political turmoil and uncertainty in the US along with ...
ZAR USD FX_IDC:ZARUSD
How Cyril's impact as a new president could initiate a new bullish trend and combined with US Stock markets, ZAR could see SUB $11 or dare i say $9.
*speculative events that impacted perception of these two currencies.*
This is not quite an idea but a mere observation. The Rand has been depreciating in its value against the US Dollar in the past decade. While Bitcoin has been smashing it by a pretty impressive margin. This can mean a lot of things but my focus is on the fact that the Rand has been steadily and consistently shedding its value against the world's biggest economy. ...
ZARUSD bounced of a past support zone and is likely to reach the new resistance. If it breaches the resistance zone then that's an opportunity for a short term buy. However, if it bounces off the resistance, that will put the trade in a sell position with about 400+ pips.
Time to take profits?
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.
I'm using my new charting system for the ZAR.. should bounce to retest line at 9 cents. but will be rejected since there is only 1 bottom previously there (see my note on the left)
LOGN: ZARUSD, SHORT: PLATINUM