USDZMW WISHFUL SHORTHighly wiahful short on USDZMW .I just drew what I can see on the charts ..... Draw what you can see
USDZMW
USDZMW (Where do we go from here?)So I have been privately analyzing USDZMW since 2015 and this idea of the USDZMW was created in 2021 after the elections(SEE BLUE HIGHLIGHTED PERIOD from 09 Nov 20 to 16 Aug 2021). Make of it what you will but the 29.71 price range if achieved could spell uncertainty. We have been in an up trend for the majority of the time and the drop from 22 to 16 seemed to have been a consolidation area that was eventually broken out of and rejected for a powerful breakout that brought us to 26. Now we have experience a small consolidaiton and it breaks out and upward it will achieve our 29.71 target.
USDZMW USDZMW looking forward to continuation of the down trend after the market mitigated some of the imbalances on the highs.
Markert made a bullish engulf candle signaling a good sell off probability which is currently being tested and mitigated.
Currently the Zambian economy is facing a form of uncertainty as it has not yet successfully come to an agreement to restructure its debt with its official creditors. positive news towards such an agreement will strongly confirm my analysis apart from that low up and down volatility is to be expected.
USDZMW Bullish Trend Bullish trend continuation once we break above the marked key level K18.75 . I expect price to go back and test the all time high K22.62
Kwacha is back (almost)Now this is by no means financial advice but mere analysis. When I saw price break the Daily Support at 17.63 , my immediate anticipation was we’re going lower.
Depending on what happens today at the Daily Support & Resistance (16.95) I believe it will reject and hold around that area for a while or it could right off break through and right for 16.4
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As commodities & metals start to recover on the international markets, commodity currencies are likely to gain significantly against
the greenback.
USDZMW USDZMW shows that we now starting to retracte once the bearish weekly candle is filled , will continue to go down for weeks and price is likely to fall back into the channel but will start to make the next implusive wave once it reaches 0.618 fib zone .This shows that the kwacha will may never go below K15, for some time or even years to come unless we see major improvement in the zambian economy .
USDZMW SHORT UPDATENice bearish engulfying on USDZMW, I expect the Zambian Kwacha to appreciate even further as the US dollar weakens.
See my Fisrt call on buying some Kwacha and Selling the dollar here.
