CHF/ZAR - More pain for the rand t R22.00 - SHOCK WARNING
Cup and Handle and a Falling Flag has formed on the daily with the Swiss Franc versus the South African Rand.
There was a one month consolidation and retracement. And now it looks like the buying and demand is kicking in again for the CHF.
We are looking at all yearly highs soon.
7>21>200
RSI=50
Target R22.00
QUICK STORY~!
I was in Switzerland in February and just a three day stay at a basic hotel was R13,500. It's scary to think how depreciated the rand is to this currency and how expensive living day to day is in Switzerland.
A simple Fondue meal with beer can cost up to R4,000.
A simple tea at a restaurant can set you back R120.00.
It is truly a beautiful country with the freshest air and amazing people with drive and ambition. But this is one country that is a privilege to go to if you're from South Africa.
Hence, I really hope I am wrong and that this currency doesn't continue to depreciate the rand.
Have you been to Switzerland and how was your experience?
There was a one month consolidation and retracement. And now it looks like the buying and demand is kicking in again for the CHF.
We are looking at all yearly highs soon.
7>21>200
RSI=50
Target R22.00
QUICK STORY~!
I was in Switzerland in February and just a three day stay at a basic hotel was R13,500. It's scary to think how depreciated the rand is to this currency and how expensive living day to day is in Switzerland.
A simple Fondue meal with beer can cost up to R4,000.
A simple tea at a restaurant can set you back R120.00.
It is truly a beautiful country with the freshest air and amazing people with drive and ambition. But this is one country that is a privilege to go to if you're from South Africa.
Hence, I really hope I am wrong and that this currency doesn't continue to depreciate the rand.
Have you been to Switzerland and how was your experience?
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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