Geeves

Geeves

Trading above the bottom Bollinger Bands. Retesting an old resistance now support. Somewhere else we read signs that the USD will get stronger, it will place Emerging Markets currencies under immense pressure.

Geeves

Last week, $ZAR opened at R15.22, closed at R14.71 Technical resistance at FIB ratio 50% R14.63 (range: R17.76 (Jan 16) to R11.51 (Feb 18)) with the 50 SMA at around R14.32. We are 8/24 weeks into a new Cycle looking for a Low. Previous Cycle Low was around R13.82

Geeves

Great Weekly Green Bar!! Big bounce from the 18 SMA, a repeat from the 2017 bull run. $BTC still trading in the accumulation zone FIB ratio 23.6% to 38.20% (range: 13868.44 to 3128.29), the 2019 big bullish move. Upper side of the range is around $11300.

Geeves

Will it bounce or continue? I am neutral. Bottomline the ZAR might be undervalued. Might be.

Geeves

Formed a Cycle High, 4 weeks into a possible 25 week cycle until the next Cycle Low. Support will be in the area of 17.25, indicated by the yellow support line.

Geeves

18 SMA weekly in support, like in the 2017 bullrun. Bitcoin continuing with the Flat Base Trading , Week 12 since entering the - FIB ratio 38.20% to 23.60% (range: 3128.29 to 13868.44), the 2019 big bullish move. FIB ratio 38.20% to 50% (19783.06 to 3128.29), the bearish 2018 correction.

Geeves

High probability, cycle high formed 4-weeks into a possible 28 weeks cycle, to form the next cycle low. This cycle can be as low as 16 weeks. Triangle suggest support around the 200 SMA - 15.75. Important to keep eye on the political climate in SA. It is not normal, current events can make markets jittery, or is it normal now?

Geeves

Did we had a cycle high 5 weeks into the next cycle? How SA roleplayers accept @tito_mboweni economic growth plan will be telling on how the market reacts. Sunday night opening in the east will be telling. Currently we are trading under the FIBONACCI ratio 61.8% (range: 17.76 Jan '16 to 11.51 Feb '18), if we are ambitious we will aim for the 38.2% (13.89)...

Geeves

2017 Bullrun, price action touch the 18 SMA and bounce. Will it be different? Current price action in the FIB ratio 38.20% area (range: 3128.29 - 13868.44)

Geeves

The USDZAR pausing at the FIBONACCI ratio 61.8% (15.37 area) for the range: 17.76 (Jan '16) to 11.51 (Feb '18). The Africa Milk Index indicates that 12.54 will be a more fair reflection of the USDZAR.

Geeves

8 Weeks of trading between the FIB ratio 23.6% (resistance) and 38.2% (support) for the range: 3128.29 to 13868.44 (the 2019 bullish move). Brings the 18 MA closer to the Price Action. See the 2017 bull market run. They touched before the bounce and continuation. We have a bullish wedge. We are on the edge of a FIB Circle.

Geeves

Will we visit the $8500 area, the 50% FIB ratio of the 2019 big move (range: 3128.29 to 13868.44)?

Geeves

With the 21 EMA in Support. MACD blue line rises above the signal line.

Geeves

It represents the FIB area 38.2% (Range: $19783.06 to $3128.09), see pink horizontal line. Plus it is the FIB area 88.6% (Range: $12332.56 to $9071.00)

Geeves

61.8% (10340.06) of the move 9113.95-12323.65

Geeves

Will Price Action touch the 20 MA during this correction? We are trading close on an edge of a Fibonacci Circle (Range: $3128.29-$13868.44) - what happen next?

Geeves

I don't see much in the form of resistance.

Geeves

Will it move back under the current support, previous 3.5 yrs resistance? Is 15.50 - 15.80 next up?