Get started

RAND

Markets Using the Insync IndicatorInsync Trading: Analysis of the Markets Using the Insync Indicator Insync Trading is a system that uses the Insync Indicator to help traders analyze the markets. The Insync Indicator is designed to help traders keep track of price trends and volatility. The indicator can be used to help traders make informed trading decisions. image.png What is the Insync Trading indicator and how does it work? The Insync Trading indicator is a technical analysis tool that is used to identify potential buying and selling opportunities in the market. It is based on the idea that price and volume are interconnected, and that when there is a large volume of trade at a certain price level, it is likely that the market has reached a point of equilibrium. The Insync Trading indicator can be used to identify these equilibrium points, and to generate trading signals accordingly. How can the Insync Trading indicator be used to analyze the markets? The Insync Trading indicator can be used to analyze the markets in a few different ways. Firstly, it can be used to identify when the market is in a trend. Secondly, it can be used to identify when the market is in a consolidation phase. Finally, it can be used to identify when the market is in a ranging phase. What are the benefits of using the Insync Trading indicator for trading? The Insync Trading indicator is designed to help traders make better trading decisions. It does this by providing information about the current market conditions, and by indicating when a trade is likely to be profitable. The Insync Trading indicator has a number of benefits: It is easy to use. The indicator is simple to understand and easy to apply t0 your trading strategy. It is accurate. The indicator has been tested and proven to be accurate. It is reliable. The indicator is reliable and consistent, giving you accurate information every time you use it. It is updated regularly. The indicator is updated regularly, ensuring that you have access to the latest information about the market. It is affordable. The Insync Trading indicator is affordable, and it is a valuable tool for traders of all levels of experience. It is flexible. The indicator can be used for a variety of trading strategies, giving you the flexibility to adapt it to your own trading style. It is the best indicator for trading. The Insync Trading indicator is the best indicator for trading, and it can help you to make more profitable trades. The Insync Trading system is a great way to keep track of price trends and volatility. The Insync Indicator is designed to help traders make informed trading decisions.
FOREXCOM:XAGUSDEducation
by RobinhoodFX
Rand looking positive heading into year-end.The USD/ZAR pair seems to be in an ABC corrective wave pattern after completing a 5-wave impulse that commenced in April this year. Following last week's presidency scare, the rand has been able to pull the pair back below the 23.6% Fibo retracement rate of 17.50. Positively for the rand, it managed to keep the pair below the 50-day MA resistance rate of 17.74 and the neckline of the upward blue channel. The major support rates that need to give way for further rand strength as we head into year-end sits on the 38.2% Fibo rate of 16.87 and the major support of 16.80, the 61.8% Fibo retracement from the rand post covid bull run. As long as 16.80 holds the possibility of seeing 19.34 still remains. I'm however expecting a re-test of the support range between 16.80 and 16.86 and a break below this range will allow the rand to pull the pair onto the 200-day MA of 16.50. In terms of technical indicators, the RSI is showing bearish divergence, which is rand positive. Conversely, there is currently a buy signal on the MACD following last week's presidency scare. Apart from increased loadshedding and electricity uncertainty the fundamentals for the rand are looking relatively positive. SA GDP increased 1.6% q-o-q in 3Q2022, putting the economy back above pre-pandemic levels. Agriculture grew 19.2% in this period which will boost exports going into year-end which is rand positve. SA 10-year government bonds currently yield 9.105%, so the carry trade is still strong as US 10-year treasuries currently sit at 3.540%, down from the highs of 4.25% in October. In terms of commodities (the rand behaves as a commodity currency) I mainly look at platinum. Platinum is currently trading around $990 per ounce, up 19.57% from the lows we saw in August.
Short
by Goose96
3
ZAR in Jackson's holeThe DXY let off some steam following yesterday's relatively upbeat US GDP data for Q2 which opened the window for some ZAR strength. The DXY's recent rally saw the greenback gain roughly 4.4% from the past 10 days but the yearly high of 109.27 remains intact for now. All the focus will however be on Powell's Jackson hole speech later today and markets may have to brace for a hawkano. The first support rate on the pair sits on the 23.6% Fibo retracement rate at 16.57 and the 50-day MA rate of 16.60. A failed break below this zone could signal more ZAR weakness. A move higher towards the yearly high of 17.31 is on the cards if the pair climbs back above the massively critical 61.8% Fibo retracement rate from the rand's covid recovery at 16.82 (I'll zoom out and post a pic in the comments for perspective). A break above 17.31 could see the rand stumble towards 18.00-18.10. Best case scenario for the rand is less hawkish Powell mumble which will allow the rand to hold the pair below the 50-day MA support rate. A break below the 50-day MA will allow for a retest of the support zone between 16.14 and 16.32. In terms of technicals the RSI is sitting well below overbought levels and there is a golden cross (50-day MA > 200-day MA) in play which does not put the ball in the rand's court.
by Goose96
Is the South African Rand forging its own path against the USD?The exotic pair of the U.S. Dollar to South African Rand (USD/ZAR) has not correlated strongly with other USD pairs since this year. In fact, the USD is down 1.3% against the ZAR since the beginning of the year, all the while, the USD index has been super bullish, up 6.1% YTD. While performing better than the GBP, EUR, and other major partners, the USD is still trading just under last November’s high. With the seasonal tendency of the USD to weaken over the Northern hemisphere’s summer months in combination with the strong trend-bucking Rand, Is it looking unlikely that the USD will take out those highs over the coming months? A main reason for the ZAR’s strength is the interest rate hikes emanating from the South African Reserve Bank (SARB). Just last Thursday the SARB raised rates to 4.75% with a 50 basis point hike, which is the highest single increase South Africa has seen since 2016. It appears that the announcement was already priced in to the USDZAR since there was little volatility that followed. Several more aggressive rate hikes are expected from the SARB with at least another 50 basis point rise over 2022, and 100 basis points over 2023. USDZAR technical perspective On the charts, we can see the pair is floating just below the high created in November 2021. Just this month we've seen a new range created, to which the Fibonacci tool is anchored. There is also an Elder's Force Index (EFI) indicator on the bottom window. This indicator is concerned with the previous day’s opening and closing prices in relation to volume. Overbought and oversold conditions can be ascertained when the indicator moves above or below the zero line. At the time of this writing, the USDZAR is sitting above on the 78.6% retracement level, with the EFI below the zero line. If the price is going to take out last November’s high, then we will need to see a sustained support at this level. Ever the contrarian, the USDZAR may disregard the oversold EFI confluence and continue on its path below the 78.6% level..
by BlackBull_Markets
Dollar / South African Rand (USDZAR) High Timeframe outline HTF (High Time Frame) outlook for the South African Rand. Lets see how it plays out over the coming months. I am currrently positioned long and per the box, break down from here and you target the next range below for some action. HTF charts take long to play out. Wonder what the news will be .... USD at monthly resistance, so probably heading to the lower box. These monthlys all tested, and weekly struggling to hold. So lower box looking prbable for now. However, this is the range to long, albiet a bit sketchy. USD looking strong against CHINA YEN , this could play a significant role, as South Africa (Along with rest of Africa) is aligned (owned) by China.
by Willco95
USDZAR end of Q1The rand has held up resiliently against the dollar during this recent patch of geopolitical tension largely due the rise in commodity prices, particularly precious metals. Risk-assets, such as equities and the rand, received strong bids following the Fed rate hike and going forward I don't see the rand depreciating rapidly from further Fed rate hikes as the year progresses. While we're on the topic of interest rates, I believe hikes are priced in and the rand's carry trade appeal is still very strong (SA 10-year yield = 9.785% vs US = 2.388%). SA's trade balance surplus has however slipped from R29 billion in December to R3.55 billion in January and the forecast for February is expected to climb higher to R16.50 billion which is fundamentally rand positive. Let's get techi: The rand has pulled back 50% of its 2H2021 losses and the 50% fibo rate of 14.79 is the next support rate to watch (just a reminder I use a log scale chart and my Fibo retracements are also based on the log scale). A break below 14.79 will open the gates for a move lower towards the 61.8% Fibo retracement at 14.45 and the 23.6% Fibo retracement from the rand's 2020 recovery. I do however expect the rand to give back a bit and for the support at 14.79 to hold some strength. The RSI seems to be losing some downward momentum and the stochastic indicator is currently trading deep in the oversold zone (rand overbought). A pullback towards the 50-day MA of 15.20 and the 200-day MA of 15.05 is looking plausible but I expect the critical resistance rate of 15.15 to hold its ground. A failed break back above 15.15 will leave the window open for further rand strength. A break above 15.15 will however see the rand slip to 15.40 against the dollar. There is also a looming death cross on the pair (50-day MA crossing below the 200-day MA) which will be rand positive. To summarise, I see the pair moving into the zone between 14.35 and 14.60 as Q2 progresses.
by GustavFourie96
2
$USDZAR Daily - Dollar bulls still have the ball (for now)A chart that many South Africans will be watching with interest. The confirmed break of the inverse H&S in November set up a full target of 17.00. The pair quickly tested 16.30 before consolidating within an asymmetrical triangle. Consolidations are healthy, and will allow USD to gather some steam before next surge higher. However, currently, USDZAR is testing triple support, namely: H&S neckline, bottom triangle as well as 200 SMA. Should these support levels break, and we get a sustained move below 14.90 - this invalids the prior bullish USD patterns. Next support levels will come in at 14.40, 14.10 and 13.40 respectively. On the other hand, a break above 15.40 confirms the asymmetrical triangle targeting 16.30.
by arracofx
Checking in on the ZARThe rand seems to be holding steadily following the past two weeks of Fed noise and Friday's non-farm payroll print. The US 10-year treasury yield spiked rapidly after the payrolls print, roughly 4.37% to 1.912 which allowed the DXY to gain some strength. The key resistance rate for continued rand weakness in my opinion remains at 15.64388 (the 38.2% Fibo retracement rate from the pair's highs in April 2020). This resistance rate also coincides satisfyingly with the 50-day MA rate of 15.65. In terms of the Elliot wave theory the impulse wave from the dashed blue channel has been invalidated because wave four broke below the peak of wave one at 15.40. The channel is however still holding its ground which is rand negative. In terms of commodities, the current commodity cycle is still well intact. Brent crude oil closed the week at $92.74 and looks set to go much much higher as the year progresses which is rand positive. The one commodity to watch for this pair however is platinum. The precious metal is currently holding onto prices above $1000/oz after starting the year positively but the resistance price of $1066/oz still remains intact. Technically, there is a buy signal on the MACD indicator and the RSI is trending higher which is hinting at some rand weakness for the month of Feb. A break above 15.64 will allow the pair to test December's high of 16.10. On the flip side, if the rand can hold the pair below the 50-day MA and pull the pair below 15.40 we could see a retest of 15.04.
by GustavFourie96
When in doubt, zoom out. January closing rates to watch for the rand: S=15.38 R=15.64 The rand is trading resiliently this week and seems to be holding the pair below the 38.2% Fibo retracement rate of 15.64 and the psychological rate of 15.50. Another weekly close below 15.38, the peak of the first wave back in Aug 2021, may invalidate the 5-wave impulse in the blue channel from May 2021 but I'd first wait for the channel to break before invalidating the EW count. A break out of this channel will allow the rand to pull the pair onto the 200-week MA rate currently around 14.90 and possibly lower into the range between 14.50 and the 23.6% Fibo rate of 14.77. Still a bit too early to predict a move back towards 14.00 though. A close above 15.64 will keep the EW impulse wave and the blue channel in check which will be rand negative and could open the way for a move towards the 61.8% Fibo retracement rate of 17.05. The pair has however struggled to hold rates above the long-term black channel since breaking out in March 2021. The bottom of the channel may prove to be show strong resistance. Weekly technical indicators are pointing to a stronger rand. The RSI has broken out of its downward channel and has room to move lower towards the oversold zone. The MACD indicator will produce a cross-over sell signal if the rand holds the pair to a weekly close below 15.38. Fundamentals: Rand positive fundamentals: - SA's trade surplus is still sitting pretty. Oct 2021 surplus = R27.68 bn. Nov 2021 surplus = R38.53 bn. - The SA inflation rate is still sitting in the SARB's inflation target unlike the Big boys at the Federal Reserve. - Earlier this week the PBOC cut their policy interest rates by 10 bp's, now at 2.85%. This is positive for all commodity-currencies as it will help maintain China's commodity purchasing spree. - The Fed will most likely also start hiking their repo rate. They however won't be able to meaningfully decrease their balance sheet (as it will crash the treasury and stock market) which will keep the yield curve suppressed. This will be positive for the rand's carry trade appeal. SA 10-year bonds yield around 9% while US 10-year treasuries (which sole buyer is the Fed) is yielding a measly 1.868%. Again, the Fed will continue to suppress the curve. - Brent crude oil prices will continue to rise, a break above $100 per barrel is highly likely, which will be positive for commodity currencies as it will pull commodity prices up with it. The particular commodity price to watch is platinum as SA is the largest platinum exporter. Technically, it seems that platinum has made a double bottom around $910/oz. -The two main reasons the rand sold-off so hectically at the end of 2021 was because of the implosion of the Turkish Lira and the irrational travel bans on SA after the Omicron variant discovery. The Lira is recovering somewhat and the global Covid narrative (driven by by Fauci and his compatriots in big Pharma) is crumpling and deteriorating, fast, which will hopefully keep risk-off waves from virus fears at bay. (Go watch Dr Robert Malone's podcast on the Joe Rogan Experience and read: www.zerohedge.com) Rand negative fundamentals: - SA unemployment, the forever increasing government deficit and political uncertainty are still major hurdles for the rand but these factors are common knowledge for the market and is, to a large degree, already priced in. Monthly chart just to zoom out a bit more: -Monthly technicals: RSI divergence and the stochastic is turning in the overbought zone, rand positive. MACD crossed to a buy signal, rand negative.
by GustavFourie96
1