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ZAR

What Affects The USD/ ZAR This Week?Since we last checked in on the South African Rand (ZAR) in June 2021, the currency was appreciating toward multi-year highs of 13.37 ZAR per US dollar, previously not seen since January 2019. In the proceeding five months, leading up to the present, the USD has staged a comeback against the South African currency and is now level with the average exchange value for the first two months of 2021. Some wild swings occurred during the revival in the USD / ZAR, with many value-overshoots forcing quick corrections. That is to say, bullish sentiment didn’t last long without a bearish retracement with this pair. For the most part, retracements have been hugging close to the Fib levels. What are the factors affecting the USD / ZAR this week? Risk sentiment will play a large part in the USD / ZAR. Last week saw traders pull away from safer currencies such as the USD, indicating a risk-on sentiment was prevalent in the market. Over last week, coinciding with the start of November, the USD depreciated by 1.427% against the ZAR, squeaking below the 15.000 precipice. There are no hugely critical economic reports due from South Africa this week. However, next week the ZAR may be under pressure after announcing the Inflation rate YoY (October). Inflation is expected to increase by .2 percentage points to 5.2%, further pulling away from the South African Reserve Bank’s midpoint inflation target of 4.5%. Next week, US economic data might be worth watching, including Inflation Rate YoY (October) on Wednesday and JOLTS Job Openings (September) on Friday. Inflation in the US is predicted to get as high as 5.8% in the October reading, up from 5.4% in September. The JOLTS Job Openings should hopefully show some sign that the tight labour market in the US is beginning to loosen.
by BlackBull_Markets
1
EURZAR on a double bottom 🦐EURZAR on the daily chart bounced 2 times over a monthly support creating a perfect double bottom reversal pattern, The market after the break of a descending trendline is now moving to a weekly resistance and according to Plancton's strategy if the price will break above we will set a nice long order. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
18
EURZAR on a perfect double bottom 🦐EURZAR on the daily chart bounced 2 times over a monthly support creating a perfect double bottom reversal pattern, The market after the break of a descending trendline is now moving to a weekly resistance and according to Plancton's strategy if the price will break above we will set a nice long order. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
6
Room for a retracement on Clicks?JSE:CLS has been on a good run lately and has continued to form new all-time highs up until the previous high on the 22nd of September. At the same time, it has been consolidating sideways mostly since mid August. With today's downwards price action, we have broken out of the bottom of the consolidation area. If this downward momentum continues, I think we could see a retracement down towards the .5 or .618 Fibonacci levels before turning again upwards to potentially form new highs. Let's see what happens.
JSE:CLSShort
by RossLarter
Should traders be watching Inflation data this week? Definitely!Inflation data from outside the US should pique traders interest this week. Several major economies will be reporting on actual inflation figures experienced during September 2021. Will they match their forecasted values, or will the data follow US inflation and surprisingly creep upward? Who should be watching the inflation data? Traders of the Great British Pound, South African Rand, Euro, Canadian Dollar, and the Japanese Yen should circle these dates in their economic calendars. Why does the Inflation data deserve special attention this week? While inflation data is usually closely watched, the surprising inflation figures released in the US last week means traders should be extra vigilant with their inflation watching. Last week, the US inflation rate (September, YoY) surprised the market by beating expectations. Inflation in the US was expected to report at 5.3%, level with the rate reported in August. However, the actual figure arrived ten basis points higher (5.4%) and returned inflation to the 13-year high seen a month earlier in July 2021. As it stands, Trading Economics is forecasting inflation in the US inflation rate (October, YoY) to rise another ten basis points to 5.5%. If inflation were to cross 5.6%, a new 30-year record would stand (US inflation Jan, YoY, 1991 was 5.7%). Calendar Dates to Circle: United Kingdom, GBP, Inflation Rate YoY September Wednesday, 7:00 pm (NZDT) What is the forecast for Sep: 3.2% South Africa, ZAR, Inflation Rate YoY September Wednesday, 9:00 pm (NZDT) What is the forecast for Sep: 4.9% European Union, EUR, Inflation Rate YoY September Wednesday, 10:00 pm (NZDT) What is the forecast for Sep: 3.0% Canada, CAD, Inflation Rate YoY September Thursday, 1:30 am (NZDT) What is the forecast for Sep: 4.1% Japan, JPY, Inflation Rate YoY September Friday, 12:30 pm (NZDT) What is the forecast for Sep: -0.4%
FRED:MICH
by BlackBull_Markets
Potential Fib Retracement on AMSJSE:AMS has been trading in a downward trend since March this year. For basically the whole month of July, it made a retracement all the way up to the 61.8 Fib level. It then went down again to form lower lows. It is currently bouncing off a very strong support level and is looking like it will make a retracement again before continuing downwards. My prediction is that it might go up to the resistance level which coincides with the 50/61.8 Fib level. Let's see what happens.
JSE:AMSLong
by RossLarter
2