Today i saw a surge of over 2% and RSI Oscillator Jumped into oversold Territory for all major short term timeframes.
J1 FX/Index Trade has currently taken a sell back to Price 14.7000
Look at the clear 15minutes chart where i spotted exactly how the rand will move in less than 12 Hours.
There is no Economic or Political Data at the moment besides Covid-19...
With the US facing no clear direction, the Rand (ZAR) is making gains because of the dollar weakness. In the US Covid-19 cases continue to rise with some states on stay at home orders. Unemployment claims remain high in the US. A lot of economic uncertainty lingers with the FEDS battling to secure a stimulus package.
With all this data, I expect the Rand to...
I am looking at selling short back to 5700. With UK under lockdown, I am confident about this one.
Disclosure: Trading leverage Index instruments can multiply your losses. Please ensure you exercise proper risk management if you take this trade. I am not a financial advisor. Use this idea at your own risk.
