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skypointmarkets
14 jul 2021 11:47

DOLLAR/RAND ANALYSIS Lång

U.S. Dollar/South African RandFXCM

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Possible bounce off of support or a retracement before a continuation. Either way I see the Rand weakening against the Dollar due to the current state of the nation. Target 1: 15.00000 ; Target 2: 15.60000
Kommentarer
MatthewT94
MatthewT94
Any update and thoughts. ?
skypointmarkets
@MatthewT94, Been keeping an eye on the DXY (Dollar Strength Index) which has been moving down steadily but nearing a trendline. I'm still bullish with USD/ZAR, I think there should be more upside today if the DXY retraces up. Price has also formed a support level at around 14.44362 which will hopefully be respected. If price breaks this level then my next key areas to go long will be 14.44362 - 14.40417. Do what you want with this information but don't consider it sound financial advice.
Moxin1
@skypointmarkets, do you mean 14.44362 - 15.40417?
skypointmarkets
Hi @Moxin1, No, I'm referring a level to go long if price breaks below current support. I think I will post an updated analysis to illustrate my point.
Mer