USDZAR, approaching a critical point.
USDZAR GETTING READY TO GO LONG
TIME TO GO LONG
The USDZAR has retraced to the 61.8% level. Expansion points to the 15.50 level. wait for second bullish candle on daily chart to confirm
WAIT FOR BREAKOUT TO CONFIRM.
USDZAR SHOULD MOVE TO AROUND 14.50 IN THE WEEK AHEAD.
USDZAR driven by dubious politics.
looking at 15.30 before first major pullback.
USDZAR to bounce off the 61.8 level at 12.35 then continue uptrend reaching levels of around 15 to 16.50
The Rand will retrace to 12.25 to 12.35 then bounce off the 61.8% level.
The South African local political situation also offers lots of scope for volatility as well as a long term depreciating currency.
EURUSD, UP THEN DOWN
looks like regular convergence forming on pointing to a possible move upward.