Trade FX: USD/ZAR with Unum Capital.
To get started, e-mail lester@unum.co.za
Q: What is the overall trend for USD/ZAR? A: The overall trend is weak and in a consolidation phase.
Q: What is the overall trend for USD/ZAR? A: The overall trend is weak and in a consolidation phase.
Q: What is the current 7-day trend? A: The current 7-day trend is weak.
Q: What is the current 14-day trend? A: The current 14-day trend is bearish.
Q: Is there any opportunity for a short-term buy/long position? A: Yes, a recovery buy/long is triggered if there are strong bids and a break of the current range high.
Q: What is the outlook for the medium term (2 to 4 weeks)? A: The medium term outlook is very weak. It's advised to wait until it stabilizes on the lower time frame.
Q: What is the outlook for the long term (5 to 8 weeks)? A: The long term outlook is weak in a consolidation phase.
In summary: The USD/ZAR is currently in a weak and consolidating state. While there's potential for a short-term recovery buy if certain conditions are met, both medium and long term outlooks suggest weakness and a need for caution. Traders should wait for stabilization in the medium term and be aware of the consolidation in the long term.
Lester Davids
Analyst: Unum Capital
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