Zar Fundamental Quant Score: +33 - Retail sales grew to 1.2% showing consumer confidence in South Africa - PPI breached forecsats by 0.1% which is healthy for producers - Interest rate decisions had no signs of dovish action so investor money flow should continue flowing into South Africa - Trade balance showing a huge surplus
Technical Analysis - Daily Sell zone - Daily hammer head/ evening star formation - Rejection from the current zone shows big money flowing out the EUR and into ZAR - Wait for a 4HR lower low then a retrace to confirm the move ad possibly enter in that region depending on the fundamentals and technical outcome
Some good signs for ZAR and EUR has continued to weaken the past week
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Position dropped heavily in favour of short momentum looks good
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EUR fundamental quant scores shifted positively the previous day, while ZAR dropped suggesting risk management techniques to be applied and reduce the downside
Trade fermée manuellement
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Closed out position, ZAR fundamentals shifted towards negative this week. Suggesting a possible retracement or even a reversal soon.