Following the firing of finance minister Gordhan, this pair took a leg up and broke out of the bearish channel. We see a strong impulsive move followed by consolidation. I have been waiting for a good entry and it looks like we'll get it in the next week. I am anticipating large gains from this trade. Wait for the indicators to move in your favor and enter in the...
With dismal GDP recently announced and a possible downgrade coming VERY SOON (rumors), I am long this pair going into the weekend. Stop below 12.50 target 13.40
USDZAR Long opportunity. Wait for channel to breakout.
Dollar recovery and political chaos in South Africa, might give a breakout. Technical ready, target 13.81.
Still room to the next resistance level.
- Trade base off political uncertainty on the South African front. - The PM fired - Expecting the USD to keep strengthening against the Rand. - Possible re-entry the moment it dips. - Weekly charts will show text book Bollinger setup.
SARB Interest Rate Decision Wholesale Inventories Goods Trade Balance Redbook index (YoY) S&P/Case-Shiller Home Price Indices Richmond Fed Manufacturing Index FOMC Member Kaplan Speech FOMC Member Williams speech
USDZAR is about to makenews highs this and next week! You can see perfect bounce from demand zone based on H1 timeframe, Fibo 50% Price Reverzal Zone (PRZ) and supportive trendline. If USDZAR will break Structure + Resistance + Trendline, we can see big move up in next weeks. Keeps eye on that. For the record: USDZAR and USDMXN are only exotic pairs I trade...
FX:USDZAR Safe Trades;
Let see how it goes, Im going against my initial thought .