USDZAR - Buy

We are long the USDZAR pair. This is based on the current political instability surrounding the ruling president of South Africa, the Rand is poised to get weaker over the coming weeks.

This is also taking into consideration the weekly and monthly momentum. This ship may see an uptick in price beyond the R18.50 per dollar.

In the short-term we are expecting a correction between R17 per dollar to 16.50 per dollar.

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ความคิดเห็น:

This trade still remains valid, especially with news reports of South Africa's Power utility upgrading the load-shedding to Stage 6, this means there will be major disruptions to economy. Which raises concerns for investors, this may lead to also a downgrade with rating agencies.

Our forecast take profit level may be adjusted should report not get any better.

ความคิดเห็น:

"Emerging market stocks jumped 1% on Wednesday on relief over cooling U.S. inflation, while currencies made cautious gains ahead of the U.S. Federal Reserve's policy decision later in the day." Reuters

Further evidence suggests that the cautious gains made by the emerging market will be short lived.

ความคิดเห็น:

As Expected based on seasonality the Dollar index will be consolidating throughout the rest of December as many institutions begin to wrap up year-end. This leaves our trade in the USDZAR as still valid for the remainder of the month.

ความคิดเห็น:

As we anticipated: Our order remains valid and due for a rally!!🚀🚀

Happy Trading!!! All the way from South Africa🇿🇦!!

ความคิดเห็น:

On the back of the South African President being voted for the second term off office. The rand saw mild reaction to the news. However, our trade still remains valid with the US dollar to experience strength.

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