USD ZAR forecast – The Rand’s strong run continues…

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USD ZAR forecast – The Rand’s strong run continues…

Update
Port Elizabeth

Well, after another eventful week, what does this week hold in store?The Rand has started the week on a good note, continuing where it left off on Friday week, pushing stronger against the Dollar, Euro and Pound.Apart from political and global tensions, this week has some potential economic events that could provide triggers be market movers, the most important being US Retail Sales, Fed Chairman Powell’s speech and SA Interest decision.It seems that the Rand has been almost unstoppable the past few weeks, but we know in this market that trends of any degree never continue ad infinitum.And that is the beauty of analyzing with the Elliott Wave Principle, which is the study of irrational yet predictable human behaviour in financial markets.Markets are moved by mass human sentiment.And by analyzing these sentiment patterns together with our unique combination of momentum, time and price-relationship studies, we are able to come up with where this sentiment is likely to take the market – in smaller and larger timeframes.And in so doing, answer the following questions:Which way is market likely trending in different timeframes?How far is the market likely to move in that direction?When is the market primed for a reversal?What is the market expected to do thereafter?Being able to answer these questions allows you to make decisions ahead of time, based on an objective outlook…… not based on gut feel, emotions or rational fundamentals.If our latest analysis is correct, we are in for an interesting couple of weeks, which will likely take many by surprise.Why not join us free for 14 days – andget a look at what we are talking about.Simply click the link below.Get 14 Days Access To Our Forecast HereI look forward to helping you make educated, informed and better forex decsions.To your success~James PaynterFollow more RNEWS articles, subscribe to our YouTube channel and for breaking news LIKE us on Facebook. For news on the Western Cape click here.

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