USDZAR, clear breakout in progress, LONG, this pair should weaken significantly over the next few weeks. small volumes to be traded as this pairing can either make you lots of money or lose you lots of money, caution advised.
USDZAR, approaching a critical point.
USDZAR GETTING READY TO GO LONG
The USDZAR has retraced to the 61.8% level. Expansion points to the 15.50 level. wait for second bullish candle on daily chart to confirm
WAIT FOR BREAKOUT TO CONFIRM.
USDZAR SHOULD MOVE TO AROUND 14.50 IN THE WEEK AHEAD.
looking at 15.30 before first major pullback.
USDZAR to bounce off the 61.8 level at 12.35 then continue uptrend reaching levels of around 15 to 16.50
The Rand will retrace to 12.25 to 12.35 then bounce off the 61.8% level. The South African local political situation also offers lots of scope for volatility as well as a long term depreciating currency.
looks like regular convergence forming on pointing to a possible move upward.