Be LONG usd/zar
Atualizado
Usd/zar has broken and closed above trendline resistance for 2016. Long is the way to be.
Entry point was 14.2500 and the stop is at 14.05. As well as a technical break out my thinking is that the finance minister won't survive and we don't have a credible replacement. It is also my considered opinion that SA should have been downgraded to Junk a long time ago plus they won't intervene to defent the zar ..........its indefensible.
Target is considerably higher and due to the explosive nature of the zar have the t/p loaded up ...............
I am selling some out at 14.70 ( probably 30 % ) to make this almost a free trade. Waypoints are 15.6500, 15.9800 and then 17.75...........if this descends into a farce and given what happened last time its almost a certainty then we could see 20.00
Entry point was 14.2500 and the stop is at 14.05. As well as a technical break out my thinking is that the finance minister won't survive and we don't have a credible replacement. It is also my considered opinion that SA should have been downgraded to Junk a long time ago plus they won't intervene to defent the zar ..........its indefensible.
Target is considerably higher and due to the explosive nature of the zar have the t/p loaded up ...............
I am selling some out at 14.70 ( probably 30 % ) to make this almost a free trade. Waypoints are 15.6500, 15.9800 and then 17.75...........if this descends into a farce and given what happened last time its almost a certainty then we could see 20.00
Nota
/zar ..............2% in 2 seconds on SA prosecutor saying he may re-consider finance minister prosecution. Still in the position but by skin of teeth. From 14.4000 to 14.06 and at 14.1700 as I type. Reconsideration is now in the price, stop lowered to 14.0000 just to be one spread away from the low which could be as wide as 500 points in this.
Aviso legal
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