The previous analysis I hoped I was wrong, and ended up right with EUR/ZAR hitting R22.00.
Great on the EGO bad on the pocket :/
Living in Europe and dealing with Rands is no joke. So hopefully, we can get some downside with the EURO now against the ZAR.
So why would the ZAR strengthen?
🪙 Gold prices rising
📉 USD softer
🏦 SARB keeping rates high
🌍 Risk appetite favoring EMs
⛏️ Commodities boosting ZAR
and looks like SA is forming an alliance between China and Russia and the Brics which is bringing strength to the rand for foreign direct investments.
Technically speaking:
M Formation
Price<20 >200MA -
Medium Probability
Target R19.42
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Great on the EGO bad on the pocket :/
Living in Europe and dealing with Rands is no joke. So hopefully, we can get some downside with the EURO now against the ZAR.
So why would the ZAR strengthen?
🪙 Gold prices rising
📉 USD softer
🏦 SARB keeping rates high
🌍 Risk appetite favoring EMs
⛏️ Commodities boosting ZAR
and looks like SA is forming an alliance between China and Russia and the Brics which is bringing strength to the rand for foreign direct investments.
Technically speaking:
M Formation
Price<20 >200MA -
Medium Probability
Target R19.42
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
🌐NEW Website 2025:
mati-trader.lovable.app/
✅ Facebook:
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𝕏 (Formerly Twitter):
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
mati-trader.lovable.app/
✅ Facebook:
facebook.com/groups/matitrader
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
🌐NEW Website 2025:
mati-trader.lovable.app/
✅ Facebook:
facebook.com/groups/matitrader
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
mati-trader.lovable.app/
✅ Facebook:
facebook.com/groups/matitrader
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.