When we observe the first day of the month as an opening channel, we see the Dollar Index has significant moves when breaking out of those channels.
In the current market, approaching the US elections, the DXY is at a critical point and looks set to continue its bullish run.
However, we will be waiting until the end of the 1st Day of November to establish a...
Negative correlation between Natural Gas and the RAND. Something to watch during the last quarter of the year. Also generally when seasons change in the North and South Hemispheres.
XAU/GBP is on the rise. Weighing down on the pound against commodity driven markerts like the Ozzy, the KIWI, Looney and ZAR.
Look to sell to the demand zone at 1.74624
At the moment, we are in a strong impulse wave (down) and we expect a pullback to the upside. Giving us an opportunity on TUES 23rd FEB 2021 to catch it at a discount.
Watch how candles close...
The South African Rand to the U.S Dollar could very well go to all time highs next week (from a technical standpoint) If the MONTHLY RESISTANCE of 17.8 does not hold, It is vulnerable to a further bullish move.
Looking at a FIB extension on a MONTHLY chart.
Also a possible THREE MARCHING MEN CANDLE STICK FORMATION.
It is also very possible for the pair to...
The eurusd has been on a consistent downtrend over the past couple of years and it looks like that is likely to continue.
However, the impulse buying could see apossible extension to the upside.
The lowest possible price in my opinion, if you are looking at minimal risk (for buys) is 1.0990 (stop loss 10 pips)
