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USD-ZAR

USDZARA little late posting this to be honest. However, I think this is still a good move. Double bottom on this timeframe, Mac D losing momentum on the recent pullback. Looking for 50% of the previous high for a retracement target. I'm seeing that ZAR has a stronger interest rates but I want to see if or why the USD will be or is stronger than the ZAR regardless of interest rates. Even though the interest rate are stronger on the ZAR and both countries expect hikes next year, I noticed that the unemployment rate was drastically higher in South Africa. the ZAR is facing a more stringent debt issue than we are (allegedly). If we handle our situation quicker than theirs, I could see our dollar being stronger over time. (Opinionated) check via tradingeconomics for source. Business confidence has remained stagnant with confidence in the US increasing a small amount since last report. With this info here and information sought out earlier, I would think that the overall sentiment in South Africa is low from an economic perspective. Not Advice! "It's not about being right more than it is about being smarter than your last trade."
Long
by Redimere_91
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
USD/ZAR:PRICE ACTION+FIBO ANALISYS|DOWNTREND|SHORT SETUP🔔The forecast for the USD/ZAR turned bearish after this currency pair lost upside momentum. Traders should expect a rise in volatility as bulls and bears wrestle for control. Welcome back Traders, Investors, and Community! Check the Links in Description and If you LIKE this analysis, Please support our page and Ideas by hitting the LIKE 👍 button Traders, if you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Feel free to request any pair/instrument analysis or ask any questions in the comment section below. Have a Good Day Trading !
Short
by FOREXN1
3
USD/ZAR UPDATED ANALYSISYou can see if we put both the DXY and USD/ZAR next to each other how well they correlate at the moment. Both charts have retraced respectively giving a strong narrative that if the DXY respects the trend and moves higher, that USD/ZAR will follow suite. The South African economy has taken a huge knock this week due to extended Covid restrictions but more importantly, the looting of major retail enterprises. Yesterday South Africa released it's Retail Sales YY* results which came in at 15.8% which, when compared to the prior results of 95.7%, is insane. If you piece all of this information together then it is reasonable to assume that the Rand will continue to weaken against the Dollar for the foreseeable future.
Long
by skypointmarkets
USDZAR testing the structure 🦐USDZAR on the 4h chart is testing the support area after the test of the 0.382 Fibonacci level. According to Plancton's strategy if the price will break below we will set a nice short 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.
Short
by InkyGrip
6
USDZAR bounced over a monthly support 🦐USDZAR after a few tests of the monthly support starts an impulse and currently is consolidating below a minor resistance area. 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
2
USDZAR testing a monthly support 🦐USDZAR on the 4h chart break below the minor support area and now is testing the stronger support over an ascending trendline. According to Plancton's strategy if the market will break below we can set a nice short 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. Leave a comment that is helpful or encouraging. Let's master the markets together
Short
by InkyGrip
4
USDZAR testing the structure 🦐ON the 4chart USDZAR is moving over an ascending trendline. The market hit and got rejected by a resistance level and now testing the support area. According to Plancton's strategy if the price will break above we can 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
2
Emerging market FX to fall another 4-5% - Morgan StanleyIn other words, they expect a stronger dollar narrative to prevail. The firm is downgrading their view on emerging market (EM) FX for the second time in two weeks, expecting another 4-5% drop given the current market landscape. The MSCI EM currency index fell by 0.7% at the lows today and was poised for its biggest daily drop since March last year, only to recover a little upon testing the key support. That highlights the dollar's standing right now in the market and how vulnerable other currencies, including EM currencies, are to the recent resurgence in the greenback. Now, from a technical analysis, wait for the price to form a continuation pattern and watch strong price action for buy.
by thunderpips
1