Gold 4h, EUR/USD 8h and USD/ZAR 4h

Gold 4hGold correcting and we may already saw the low point - $ 940.54. It is not on the exact bottom (I miss the trade with $1 too). Now trend must be up to $980 area.

Grey line is probable down trend, and *must* be ignored for the moment.

EUR/USD 8hEURo already corrected, and now going up to $1.45. Note unlike the gold chart, this chart is 8h.

USD/ZAR 4hA reader requested me for EUR/ZAR analysis. I did USD/ZAR instead, but will look at EUR/ZAR later as well. Imortant here is that higher values means higher USD, lower values means higher rand.

Similar to other charts, there are USD-rising channel. The brown line probably forms a wedge, but it is already broken. Now we may see fall to ~8 rands, or fall may continue to 7.8 rands.

This means USD will go lower, and the ZAR will go up, at least in short term.
In long term ZAR may go down against the USD and probably against the EUR.

No comments: