The longer- term bearish outlook on the US currency remains valid.
Further medium - term range trading is preceding the eventual bear trend.
We “ await” US presidential election and then “await” the FOMC meeting.
Then we will “digest” the results before “awaiting” the next important economic figures….
Please find attached the weekly USD/ZAR report.
Our longer- term bearish stance on the Greenback remains valid and is ongoing.
Recent gains have, however indicated that the 18-month-old consolidation phase remains in force, effectively postponing the larger bearish potential.
The long-term monthly analysis confirms the respective weekly views.
The US presidential election and upcoming FOMC meeting could result in volatility, but this report does not take any fundamental drivers in consideration as a purely technical outlook.
Users can overlay and include their own perceptions and analyses.
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