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Buyeurzar

UPDATE Target Reached EURZAR - R22.00 - Next R25?Nothing to celebrate here. It was one analysis I wish I was wrong and yet, here we are. The Cup and Handle was text book, the Tarrifs hit SA hard. And the sad thing out of all of this is that South African rand will probably hurt more than what will happen to the US Dollar. So what now? Now I think we will see R22.00 again. And we could even see R25.00 in the next two months. But we will have to wait for a solid pattern to form first before we get the next set of bad news. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by Timonrosso
1
EUR/ZAR is going up to R22.00 and I hate to tell you this! Here's an analysis I really don't want to do. The EUR/ZAR is showing strong upside to come. Great for the EURO, great for Europe, Great for South African exports. Not great for the South AFrican consumer who was planning on sailing to Mykonos this year. Anyways, here are some reasons for the EURO strength and why we could see the ZAR come down a bit. Economic Woes: South Africa's economic struggles and political uncertainty are weakening the Rand, pushing the EUR higher 😟💔 Commodity Concerns: Falling commodity prices hit South Africa hard, making the Rand lose steam against the euro 📉⛏️ Monetary Policy Gap: Divergent monetary policies—stable ECB rates vs. easing in South Africa—favor a stronger euro 💶🔄 Global Risk Aversion: Investors seek safe havens during uncertain times, boosting the euro over emerging market currencies like the Rand 🌍🛡️ Capital Outflows: Local capital is fleeing South Africa amid domestic worries, further devaluing the Rand and lifting the EUR/ZAR pair 🚀💸 TECHNICALS What can I say. W FOrmation with the price breaking above 20 and 200MA. The target is on the way to R22.00 if the uptrend continues. I hope I am wrong. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by Timonrosso