A BEARISH bias is applicable below 63.36. Trade setup probability: -70%. Target: 61.59. Stop-loss: 64.04. Downside price momentum supports the bearish trend. RSI is at 57, leaving room for further downside price potential.
A BULLISH bias (rand weakness) is applicable above 14.96. Trade setup probability: +70%. Target: 15.27. Stop-loss: 14.85. Upside price momentum supports the bullish trend. RSI is at 60, leaving room for further upside price potential.
Confluence of bullish techical indicators supports this. Remains risky!
Remains a very risky trade! A BULLISH bias is applicable above 60320. Trade setup probability: +48%. Target: 62482. Stop-loss: 61672. Downside price momentum remains a concern to the bullish trend. RSI is at 65, leaving room for further upside price potential.
Bullish confluence of technical indicators
Bearish confluence of technical indicators supports downside potential.
An overbought BEARISH bias is applicable below 63.62 Trade setup probability: -44%. Target: 62.74. Stop-loss: 64.02. Downside price momentum supports the bearish trend. RSI is at 76 – overbought.
A BEARISH bias (dollar strength) is applicable below 1.2106.. Trade setup probability: -26%. Target: 1.2083. Stop-loss: 1.2117. Downside price momentum supports the bearish trend. RSI is at 49, leaving room for further downside price potential. Concern remains the low Trade SETUP PROBABILITY
A BEARISH bias is applicable below 1795. Trade setup probability: -56%. Target: 1780. Stop-loss: 1801. Downside price momentum supports the bearish trend. RSI is at 34 – leaving room for further downside price potential.
An overbought BEARISH bias is applicable below 45711. Trade setup probability: -59%. Target: 42232. Stop-loss: 46166 Downside price momentum supports the bearish trend. RSI is at 71 – overbought.
An overbought BEARISH bias is applicable below 61.22. Trade setup probability: -44%. Target: 60.21. Stop-loss: 61.60. The lack of downside price momentum remains a concern to the bearish trend. RSI is at 80 – extremely overbought. A price action above 61.65 increases the likelihood of a sudden temporary correction.
Increasing confluence of a bullish bias. Remains a risk trade depending on stimulus.
Remains close to its lower 2 std deviation range. Remains a low conviction trade.
A BEARISH bias (rand strength) is applicable below 14.88 Trade setup probability: -41%. Target: 14.72. Stop-loss: 14.94. Downside price momentum supports the bearish trend. RSI is at 39 – leaving room for further downside price potential. SA Budget speech: Expected date, 24 February 2021.
A BULLISH bias is applicable above 35382. Trade setup probability: +70%. Target: 37692. Stop-loss: 34654. Upside price momentum supports the bullish trend. RSI is at 60 – leaving room for further upside price potential.
A BULLISH bias is applicable above 3792. Trade setup probability: +41%. Target: 3861. Stop-loss: 3739. The lack of upside price momentum remains a concern to the bullish trend. RSI is at 52 – leaving room for further upside price potential. Volume is however, not supporting the bullish trend.
Crossed above its 200-day simple moving average. Remains a risky trade.