The USDZAR pair has been trading within a Channel Down pattern since April and currently is more than half-way through its latest Bearish Leg. Technically it resembles the Bearish Leg of May, which completed a -7.00% decline in the pricing of its Lower Low. As a result, our short-term Target on this pair is 17.500 which is slightly less than -7.00%, near the...
The USDZAR pair has been trading within a Channel Down since the April 09 Low. After pricing the latest Lower Low last week, the price is currently on the new Bullish Leg but got rejected today on the 1D MA50 (blue trend-line). Both past Bullish Legs of this pattern rose by +5.30%. On top of that, their 1D RSI sequences are quite similar. As a result, we take...
The USDZAR pair is trading below both its 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line), having formed a Channel Down (blue) since the start of the year. The 1D RSI hit the bottom of its Rectangle, so even though there is some limited downside on the Channel Down before forming a Lower Low, the reward is much higher on the upside. Assuming a Lower...
The USDZAR pair is trading above both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line), on a strong consolidation phase as it approaches the end of an 8-month Triangle. Having been rejected last week very close to not only the Triangle's top but also the (dotted) Channel Up top (Lower Highs trend-line), we have a strong short-term sell signal in our...
USDZAR some interesting developments for the Rand bulls. 50dma < 200dma (death cross). 3 lower highs forming what could be a potential flat bottom triangle with the base at 18.10-18.20. Some bullish characteristics here which could be shifting sentiment in favour of the bulls but it's still too early too call. Range bound between 18.95 and 18.20 now. A convincing...
USDZAR is trading around the 1D MA50 on neutral technicals (RSI = 45.374, MACD = -0.003, ADX = 21.007) but on a long term Channel Up for the past 2 years. This current consolidation has been the accumulation period in the two bullish legs prior before the final rally to a Higher High. This is our buy entry and we aim at the top of the Channel (TP = 21.000). ##...
The USDZAR pair made a 4-month High last week, extending the 3-month rally since the Higher Low at the bottom of the Channel Up pattern on July 27. With the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) supporting, based on the previous Higher High, the price has one last run to make before getting exhausted. Our target is the 1.5 Fibonacci extension...
Rev C&H has formed on the USD/ZAR. If we get a slight retracement back it could be forming a Right shoulder to an Inv H&S. Regardless, this looks bearish for the ZAR and bullish for the USD. Other indicators are showing upside to come for the greenback. 7>21>200 RSI>50 Target 1 will be R21.72. Ouch for the rand. The government and load shedding is really...
This analysis hurts my pocket. Travelling around and living in Europe means we pay in Euros. Hotels, flights, costs, etc... And I unpleasantly am doing an analysis showing how the Euro looks like more upside is to come. It's this kind of analysis I really hope I am 100% wrong. Anyway, upside is to come bease on the Reverse Cup and Handle. The price...
Right off the bat, I normally get short analyses wrong with USD/ZAR. But the system is the system, so I have to keep to the rules. Since the trade hit my first target at R18.90, it's been forming an Inverse Cup and Handle. Now the price has broken below, which means the USD is likely to weaken from here. The indicators however are conflicted. 7>21 (about to...
Inv C&H has formed on Anglo Gold. 21=7 And seems to be crossing down. Price>200 - This is Bullish but with the price so far away from the MA means, there would be a sling reaction to take the price back down. RSI<50 - Bearish biased. Target is at R337.00 for shorters. THOUGHTS: This was completely unexpecting as the JSE ALSI seems to be heading up. The...
Cup and Handle and a Falling Flag has formed on the daily with the Swiss Franc versus the South African Rand. There was a one month consolidation and retracement. And now it looks like the buying and demand is kicking in again for the CHF. We are looking at all yearly highs soon. 7>21>200 RSI=50 Target R22.00 QUICK STORY~! I was in Switzerland in...
View On USDZAR (6 June 2023) USDZAR is in * Down in short term (Intraweek) * UPtrend in Mid term (Intramonth) * UPtrend in Long term (Last 3 months) USDZAR is in the strong up trend in recent months/year and it shall be about to change for now. I am expecting some pull back in USDZAR and it might be better to stay in the Short side for a while. 18.2~18.5...
We posted this trade alert around 24 April saying, we have bad news for the South African rand. The trade is still on track to the first target at R19.80. Once it surpasses, it'll need to consolidate move in a sideways range before the next breakout. Hopefully, it won't be up again. But anyways, the demand is strong for the USD against the ZAR and we can do...
Inverse Cup and Handle has formed on the JSE ALSI 40. We need the price to break below the brim level and all hell will break loose. MA 21>7 RSI < 50 Target 67,985 FUNDAMENTALS. The rand is majorly in trouble, R19.80 to the US Dollar and R23.90 to the pound. Is this because of load shedding. Is this because people are leaving the country due to the...
With the global economy showing more resilience and the Fed slowing its pace of tightening, we believe EM currencies can outperform relative to G10 peer currencies this year. Attractive real yields should result in market participants accumulating exposure to developing currencies, while our assumption for contained banking sector stresses should lead to improved...
Inv Cup and Handle formed on Mr Price. The price broke below the brim level and is showing downside momentum. There is a previous support that still needs to break before all systems go, but my signal definitely gives a sell here. Indicators all look bearish 200 > 21 >7 MA RSI <50 - Bearish divergence Target R133.00 ABOUT The company Mr Price was founded...
Falling Wedge formed on USD/ZAR 7>21>200 -BUllish RSI >50 With the Jobs data coming out much better than expected, and with the rising interest rates - this seems to have a positive effect on the US dollar as investors are putting their money in it. The economy is clearly booming and earnings are coming out better than expected. My first target for the USD/ZAR is R18.40