USDZAR Please don’t let me thwart your own analysis. As you are aware, I don’t trade USDZAR but am watching. Via WK I see a cup and handle. The handle *could* be a double botom formation with 13.3850 as potential entry point. Right now it is at a turning point. Maybe a swing? We’ll see.
First, i am very suprised that how nicely MAs are holding last days in 4h timeframe
Weekly and daily looks mixed to me now..uptrend from april may resume soon..in august or september..depends on usd index..despite i expect usd index may break above 100 and 200 MAs in september but it may happen very soon also, since gbpusd looks very bearish..brexit worries..also higher bond yields may bring usdjpy and usd index higher..so EM currencies also may go higher soon..
Besides it seems land issue of SA may cause weaknes in Rand..so, i m shorting carefully with checking usd index and eurusd..i m not so confident with direction..when looking charts backwards, i see trend within trend within trend and so on..
I cant see easy trades nowadays..no easy money..there was only one clear trend that i have seen..it was usdtry up which i m telling for two months..it has realized sooner and much more than my expectation..but ironically i couldnt benefit much since it has spiked up chaotically usually..now waiting for drop to go long in usdtry..
make your own analysis and decisions..just giving some perspective..