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MongiIG

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Everything posted by MongiIG

  1. Trader's Toolbox: How to Identify Price Trends with Trader Sentiment Register to seminar.
  2. SINGAPORE (Reuters) -Oil prices fell nearly 1% on Thursday, extending losses as investors braced for more supplies following a compromise between top OPEC producers and as U.S. fuel stocks rose, raising concerns about demand in the world's largest consumer. Brent crude futures for September dropped 59 cents, or 0.8%, to $74.17 a barrel by 0409 GMT while U.S. West Texas Intermediate (WTI) crude for August was at $72.51 a barrel, down 62 cents, or 0.9%. Both benchmarks slid more than 2% on Wednesday after Reuters reported that Saudi Arabia and the UAE reached a compromise that should pave the way for a deal to supply more crude to a tight oil market and cool soaring prices. "The market is not taking any chances. Prices are very overbought anyway so traders might want to take some money off the table before the deal is concrete," said Avtar Sandu, senior commodity trader at Phillips Futures in Singapore. Talks among the Organization of the Petroleum Exporting Countries and their allies including Russia, a group known as OPEC+, had broken down earlier this month after the UAE objected to extending the supply cut deal beyond April 2022. "The deal will take some time to get finalized, but it seems the UAE will be allowed to produce more output next year," OANDA analyst Edward Moya said in a note. "It seems OPEC+ will shortly have a plan to raise output and that is welcomed news as surging demand had oil market getting too tight." In the United States, crude stockpiles fell for an eighth straight week last week, but gasoline and diesel inventories rose despite a drop in refinery utilization rates, data from the Energy Information Administration showed on Wednesday. The large drawdown in crude stocks did little to boost oil prices as traders focused on the first rise in total petroleum stocks since early June, Moya said. However, the world's top crude importer China on Thursday reported record crude processing volumes at its refineries in June, easing some of the downward pressure on oil prices. Elsewhere, the prospect of a quick return of Iranian supplies to global markets has been pushed back as negotiations over the revival of the 2015 nuclear deal will not resume until mid-August. By Florence Tan, 15th July 2021. Investing.com
  3. TOKYO (Reuters) - Asian shares advanced on Thursday as economic data from China was largely more resilient than expected, and as U.S. Federal Reserve Chair Jerome Powell said tapering of its massive stimulus was still a way off. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.4%, with Hong Kong's Hang Seng rising 1.0%. Mainland Chinese shares were little changed with CSI300 index almost flat. China's second-quarter economic growth fell just short of forecasts on an annual basis, with GDP growth slowing to 7.9% from a year earlier from a record 18.3% expansion in the January-March period. But seasonally adjusted growth of 1.3% on the quarter in April-June was slightly better than expected. Monthly data for June, including retail sales, industrial output and fixed investments, showed growth softened but not as much as expected, adding to views that policymakers may do more to support the recovery. Earlier in the day, China's central bank partially rolled over maturing, one-year medium-term lending facility (MLF) loans, injecting 100 billion yuan ($15.46 billion). Around 1 trillion yuan in long-term liquidity was also released into the Chinese financial system from Thursday after the PBOC last week said it would cut the amount of cash banks must hold as reserves. "On the whole the PBOC is loosening but it is not flooding the banking system like the Fed does. And today's economic data wasn't that bad," said Masahiko Loo, portfolio manager at Alliance Bernstein. Japan's Nikkei bucked the trend, with Nikkei falling 0.9%, hurt by worries about rising domestic COVID-19 infections. Wall Street shares were mixed, with S&P ending 0.12% higher and Nasdaq down 0.22%. In testimony to the U.S. House of Representatives Financial Services Committee, Powell said the U.S. economy was "still a ways off" from levels the central bank wanted to see before tapering its monetary support. He also said he is confident recent price hikes are associated with the country's post-pandemic reopening and will fade. His comments came after data published this week showed consumer prices increased by the most in 13 years in June while producer prices accelerated to the largest annual increase in more than a decade. Powell gave fresh assurance to the markets that the Fed is not too hawkish about taming inflation, said Chotaro Morita, chief rates strategist at SMBC Nikko Securities. Bond yields dipped globally, with the 10-year U.S. Treasuries yield slipping to 1.336%, having peaked out at 1.423% on Wednesday. The yield on inflation-protected bonds, sometimes called the real yield, dropped below minus 1.0%, staying near its lowest levels since February. "Given declines in bond yields started before Powell's speech, the market was probably driven more by short-covering and unwinding of underweight positions than Powell's comments per se," SMBC Nikko's Morita also added. In the currency market, Powell's dovish stance put a dent on the U.S. dollar. The euro bounced back to $1.1826 from Wednesday's three-month low of $1.1772. The dollar stood at 109.88 yen after 0.6% fall on Wednesday. The Chinese yuan dipped to 6.4693 per dollar in Asia after hitting a three-week of 6.4508 overnight. Gold jumped to a one-month high of $1,829.8 per ounce on Wednesday and last stood at $1,826.1. Oil prices eased after major global oil producers came to a compromise about supply and after U.S. data showed demand slacked off a bit in the most recent week. U.S. crude futures dropped 1.0% to $72.40 per barrel while Brent futures lost 0.8% to $74.18 per barrel. ($1 = 6.4693 Chinese yuan renminbi) By Hideyuki Sano, 15th July 2021. Investing.com
  4. For more up to date news on how markets will open, the latest earnings and economic news, watch IGTV live in the platform at 07:30am UK. Today’s coverage: Indices: Europe little moved from Wed close. Asia mostly higher, NKY down FX: USD falls - Powell retains line that inflationary is ‘transitory’. Watching GBP as BoE MPC member warns of ‘tighter’ conditions earlier than expected – waiting UK jobs data. GBPEUR 3mth high Econ data: China GDP 7.9% YoY falls short of 8.1% forecast. China retail sales better that expected Equities: Earnings today ASC SVT EXPN HAS MS AA Commods: Gold rises to hit 200 SMA on weaker USD https://community.ig.com/igtv/
  5. IG Trading the Markets Podcast: Cybersecurity specialist, Neira Jones, discusses recent concerns around data security as one of the main reasons for the intervention by Chinese authorities in the affairs of Chinese corporates in the West, including DiDi and Alibaba. Our Podcasts are now available on Spotify, Apple Podcasts, Google Podcasts and Deezer Podcasts. You can also find more information by following the link here.
  6. IG Trading the Markets Podcast: Cybersecurity specialist, Neira Jones, discusses recent concerns around data security as one of the main reasons for the intervention by Chinese authorities in the affairs of Chinese corporates in the West, including DiDi and Alibaba. Our Podcasts are now available on Spotify, Apple Podcasts, Google Podcasts and Deezer Podcasts. You can also find more information by following the link here.
  7. Wells Fargo smashes profit estimates on reserve release boost. © Reuters. FILE PHOTO: A Wells Fargo logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren/File Photo (Reuters) -Wells Fargo & Co swung to a profit in the second quarter, smashing Wall Street expectations, as it released $1.6 billion in funds it had set aside to cover loans that might have gone bad. By Noor Zainab Hussain and Matt Scuffham, 14 July 2021. Investing.com
  8. Apple has asked its suppliers to build up to 90 million iPhones this year, a steep increase from the first year of the pandemic, according to a Bloomberg report citing anonymous sources. The news suggests that the iPhone maker expects demand for upgrades to increase substantially as the roll-out of 5G services across the U.S. and further afield gathers pace. The report said that Apple is also exploiting the problems of Huawei, whose mobile phone business has been hobbled by U.S. restrictions on the supply of vital components to it. The report lifted Apple stock some 1.4% in premarket trading to a new all-time high. Shares in suppliers such as Taiwan Semiconductor Manufacturing (NYSE:TSM) and Hon Hai Precision Industry (OTC:HNHPF) – also known as Foxconn – also rose in the Asian session. 14th July 2021, by Geoffrey Smith. Investing.com
  9. Investors now await Fed Chairman Jerome Powell's testimony before Congress on Wednesday and Thursday. Although Powell has repeatedly insisted that higher inflationary pressures would be temporary, his testimony will be scrutinized for any hints on when the central bank will begin asset tapering and hike interest rates. This will be at 5PM UK Time. What will happen to the Dollar, will it continue trading lower ? Investing.com
  10. The Bank of Canada will update its economic forecasts at a policy announcement later in the day (3PM UK Time), where the central bank is widely expected to announce further asset tapering. The Canadian dollar held its biggest decline in a week ahead of the announcement, largely unchanged at C$1.2500 against its U.S. counterpart but weakening toward the two-and-a-half-month low of C$1.2590 reached during the previous week. Other central banks will also hand down their policy decisions later in the week, with the Bank of Korea’s decision due on Thursday and the Bank of Japan’s decision due a day later. By Gina Lee, 14th July 2021. Investing.com
  11. Hi @Chandrasegaran, for SL and TP line: Top left of the platform select 'Tools'> 'Options'> and then select 'Charts' tab, tick the box 'Show trade levels' For One Click Trading, top left of the platform select 'Tools'> 'Options'> and then select 'Trade' tab, tick the box 'One Click Trading' All the best - Mongiwethu
  12. Bank of America shares dropped after posting second-quarter revenue below analysts’ expectations. BAC down 2.3% after earnings disappointment. Earnings: $1.03 a share, including a one-time $2 billion tax benefit. It wasn’t immediately clear how that figure is comparable to the 77 cents estimate of analysts surveyed by Refinitiv. Revenue: $21.6 billion, just under the $21.8 billion estimate. 14th July, 2021. News from CNBC
  13. The dollar edged lower in early European trade Wednesday, handing back some of the previous session’s sharp gains after a jump in U.S. inflation raised expectations of an early move by the Federal Reserve to tighten monetary policy. At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 92.698, falling back from the previous session’s high of 92.832, just below the three-month peak of 92.844 reached last week. USD/JPY dropped 0.1% to 110.48, EUR/USD rose 0.1% to 1.1789, just above its three-month low of 1.1772, while the risk-sensitive AUD/USD rose 0.2% to 0.7460. U.S. consumer prices rose by 0.9% in June, the most in 13 years, with the year-on-year figure soaring 5.4% as the economic recovery gathered momentum. “While everyone expected price pressures to increase, [this] report illustrates how significant the problem has become. Not only are prices rising sharply, but the increases are more widespread, which means prices can remain high for longer,” said Kathy Lien, an analyst at BK Asset Management, in a note. This puts the spotlight firmly on Fed chair Jerome Powell as he testifies before Congress on Wednesday and Thursday, with the market looking for any signals on the timing of a tapering of stimulus and higher interest rates. Elsewhere, GBP/USD rose 0.2% to 1.3837 after U.K. consumer prices climbed 2.5% on the year in June, the biggest rise since August 2018 and the second month in a row that inflation has surprised to the upside. While this will increase the pressure on the Bank of England to act, the data also showed factory gate prices rising more slowly, suggesting that the impact of the sharp commodity price rises is fading. NZD/USD soared 1.2% to 0.7026 after New Zealand's central bank ended its NZ$100 billion bond-buying program, effectively signaling that an interest rate hike was just around the corner. The country’s economy has been less affected by the Covid-19 pandemic than many, growing 1.6% in the first quarter, raising concerns that the simulative monetary policies could lead to overheating. There are more central bank meetings due Wednesday. The Bank of Canada is widely expected to announce further asset tapering, while Turkey’s central bank is likely to keep interest rates unchanged for the fourth consecutive month given a weak currency and rising prices. USD/CAD traded 0.1% lower at 1.249 and USD/TRY rose 0.1% to 8.6261. Also, USD/ZAR fell 0.2% to 14.6922, with the rand bouncing slightly after falling almost 3% over the last week in the wake of the violence that erupted following the jailing of former President Jacob Zuma. By Peter Nurse, 14th July 2021. Investing.com
  14. RESERVE BANK OF NEW ZEALAND, NZD/USD, MONETARY POLICY, LSAP – TALKING POINTS RBNZ holds Overnight Cash Rate steady at 0.25%, as expected Large Scale Asset Purchases (LSAP) to be halted this month NZD/USD climbs over technical barriers as price climbs over 1% The Reserve Bank of New Zealand (RBNZ) held its Overnight Cash Rate (OCR) steady at 0.25 percent, as widely expected. However, the central bank moved to halt its Large Scale Asset Purchases (LSAP) by July 23. The end of its quantitative easing program marks a major turning point in reducing stimulus to the economy. The New Zealand Dollar saw broad strength following the Monetary Policy Statement (MPS) crossing the wires, as traders quickly priced in the hawkish policy move. Upbeat economic conditions above RBNZ estimated targets were a primary reason noted for the pullback in support. Still, RBNZ members remain wary of the volatile situation regarding the ongoing pandemic and agree that a level of ongoing stimulus is necessary to meet its objectives. House prices were addressed, with the MPS seeing the rate of growth as of late being “unsustainable,” although some upward pressures have declined. Prices elsewhere are seen picking up pace for the June and September quarters but are viewed as being temporary due to pandemic-induced factors such as constrained supply. NEW ZEALAND DOLLAR TECHNICAL FORECAST NZD/USD jumped a full percentage point higher, climbing over its 20-day Simple Moving Average (SMA) and a trendline from the May swing high. Both the MACD and RSI oscillators are pointing higher, reflecting the sharp upside move. To the downside, the recently breached trendline may offer to support prices. Alternatively, the June high at 0.7095 may serve as a target for bulls. NEW ZEALAND DOLLAR DAILY CHART Chart created with TradingView By Thomas Westwater, Analyst, 14th July 2021. DailyFX
  15. For more up to date news on how markets will open, the latest earnings and economic news, watch IGTV live in the platform at 07:30am UK. Today’s coverage: Indices: Softer markets after declines on Wall St following stronger US inflation data FX: NZD sharp gains as RBNZ will end QE. Watching GBP ahead of CPI RPI PPI data. USD in view later as Powell speech expected to focus inflation Equities: US Q2 earnings - C WFC BAC DAL, UK - DNLM PAGE Commods: Lumber takes another leg lower as gold adds more weight https://community.ig.com/igtv/
  16. Hi @Guest Adam.H, yes you can launch a ProRealTime account. How to get ProRealTime: Open an IG account, open My IG, launch ProRealTime (Activate ProRealTime via 'settings' in My IG) and then start dealing on ProRealTime. For more information on ProRealTime click this link https://www.ig.com/uk/trading-platforms/prorealtime . Can you add some clarity about what you're wanting to do. If you want automated trading are you looking at using an API? Let me know so I can give you to correct, relevent data. All the best - Mongiwethu
  17. US inflation came in higher than expected in June as the Bureau of Labor Statistics reported the largest one-month and 12-month increases since 2008. The Consumer Price Index for All Urban Consumers rose by 0.9% in June, up from 0.6% in the previous month, while the 12-month rate was at 5.4%, beating a market expectation of 4.9%. European indices have been largely treading water today, with a sharp rise in US inflation driving GBPUSD lower to offset some of the fears around a more hawkish stance at the Fed. With both core and headline inflation outstripping expectations, the core reading of 4.5% is perhaps the most notable given that it removes the kind of volatile aspects that the Fed could use to explain away such a rise. Instead, we are seeing prices continue to push higher in a move that many will believe could undermine the view that this is simply a transitory rise in prices. Nonetheless, the relatively muted market reaction does highlight the fact that many have growth accustomed to the idea of near-term inflation, with the threat of a hawkish Fed seemingly disregarded for now. Nonetheless, while markets remain somewhat optimistic that near-term inflation will be fleeting in nature, there is a very real risk that elevated prices persist to the point that the Fed is forced to shorten the timescales associated with the first rate rise. One key signal of where prices will move comes from the price of key commodities, with the recent collapse in lumber highlighting how producers could soon lower prices to reflect this chance in costs. What are your thoughts on the US inflation data released and direction for the markets ?
  18. Hi @Guest Thomas, we do not offer wallets. However when you make a deposit you will see your funds displayed on your Dashboard when you are logged into your My IG account, select Live Accounts and it will show overview of your funds and balances. When you make a deposit please ensure that any card, PayPal or bank account is in your name when depositing into your IG account, as we’re unable to accept any third-party funding. You can deposit funds with a credit card, debit card, PayPal account or via a bank transfer. For more detail on make a deposit please kindly visit this link: https://www.ig.com/uk/help-and-support/deposits-and-withdrawals/deposits/how-do-i-deposit-funds-into-my-account . If you're referring to Crypo wallets this isn't something we offer. We offer leveraged Crypto trading. All the best - Mongiwethu
  19. OPEC+ deadlock is bad news for oil producers and consumers, IEA warns. PUBLISHED TUE, JUL 13 2021. CNBC
  20. JPMorgan Chase $JPM beats analysts' expectations on both top and bottom lines. Q2 EPS at $3.78 vs $3.16 estimated, and revenue at $30.5Bln vs $30Bln expected. 13th July, 2021. Reported by CNBC
  21. JPMorgan Chase $JPM beats analysts' expectations on both top and bottom lines. Q2 EPS at $3.78 vs $3.16 estimated, and revenue at $30.5Bln vs $30Bln expected.
  22. INTRODUCTION TO MOVING AVERAGES: Moving Average – Talking Points: What is a moving average? How do you calculate moving average? What is the purpose of moving averages? How do you interpret moving averages? WHAT IS A MOVING AVERAGE? In technical analysis, the moving average is an indicator used to represent the average closing price of the market over a specified period of time. Traders often make use of moving averages as it can be a good indication of current market momentum. The two most commonly used moving averages are the simple moving average (SMA) and the exponential moving average (EMA). The difference between these moving averages is that the simple moving average does not give any weighting to the averages in the data set whereas the exponential moving average will give more weighting to current prices. HOW DO YOU CALCULATE MOVING AVERAGE? As explained above, the most common moving averages are the simple moving average (SMA) and the exponential moving average (EMA). Almost all charting packages will have a moving average as a technical indicator. The simple moving average is simply the average of all the data points in the series divided by the number of points. The challenge of the SMA is that all the data points will have equal weighting which may distort the true reflection of the current market’s trend. The EMA was developed to correct this problem as it will give more weighting to the most recent prices. This makes the EMA more sensitive to the current trends in the market and is useful when determining trend direction. The mathematic formula for each can be found below: Simple Moving Average: SMA = Where: A= Is each of the data points n = Number of time periods For example, looking at a 5-day SMA on a daily chart of EUR/USD and the closing prices over the 5 days are as follows: Day 1: 1.321 Day 2: 1.301 Day 3: 1.325 Day 4: 1.327 Day 5: 1.326 SMA = (1.321 + 1.301 + 1.325 + 1.327 + 1.326)/5 SMA = 6.6/5 SMA = 1.32 Exponential Moving Average: EMA = Where: EMAt= EMA today Vt= Value today EMAt = EMA today s =smoothing d = number of days Steps for calculating EMA: 1. Calculate the SMA for the particular time period 2. Calculate the multiplier for weighting the EMA using the formula: [2 ÷ (selected time period + 1)]. So, for a 10-day moving average, the multiplier would be [2/(10+1)]= 0.01818. 3. Use the smoothing factor combined with the previous EMA to arrive at the current value. For example, looking at a 10-day EMA for a share, the table below displays how the EMA would be calculated: DATE PRICE 10-DAY SMA SMOOTHING CONSTANT 2/(10 + 1) 10-DAY EMA 1 24-Apr-18 23.24 2 25-Apr-18 22.99 3 26-Apr-18 22.85 4 27-Apr-18 23.00 5 28-Apr-18 22.96 6 29-Apr-18 22.21 7 30-Apr-18 21.99 8 1-May-18 22.43 9 2-May-18 22.24 10 3-May-18 22.55 22.65 22.65 11 4-May-18 22.15 22.54 0.1818 22.56 12 5-May-18 22.39 22.48 0.1818 22.53 13 6-May-18 22.38 22.43 0.1818 22.50 14 7-May-18 22.61 22.39 0.1818 22.52 15 8-May-18 23.36 22.43 0.1818 22.67 16 9-May-18 24.05 22.62 0.1818 22.92 17 10-May-18 23.75 22.79 0.1818 23.07 18 11-May-18 23.83 22.93 0.1818 23.21 19 12-May-18 23.95 23.10 0.1818 23.35 20 13-May-18 23.63 23.21 0.1818 23.40 WHAT IS THE PURPOSE OF MOVING AVERAGES? The main purpose of the moving average is to eliminate short-term fluctuations in the market. Because moving averages represent an average closing price over a selected period of time, the moving average allows traders to identify the overall trend of the market in a simple way. Another benefit of the moving average is that it is a customizable indicator which means that the trader can select the time-frame that suits their trading objectives. Moving Averages are often used for market entries as well as determining possible support and resistance levels. The moving average often acts as a resistance level when the price is trading below the MA and it acts as a support level when the price is trading above the MA. HOW DO YOU INTERPRET MOVING AVERAGES? There are 3 ways in which trader’s use the moving average: To determine the direction of the trend To determine support and resistance levels Using multiple moving averages for long- and short-term market trends 1. To determine the direction of the trend: When prices are trending higher, the moving average will adjust by also moving higher to reflect the increasing prices. This could be interpreted as a bullish signal, where traders may prefer buying opportunities. The opposite would be true if the price was consistently trading below the moving average indicator, where traders would then prefer selling opportunities due to the market signaling a downward trend. 2. The moving average for support and resistance levels: The moving average can be used to determine support and resistance levels once a trader has placed a trade. If the trader sees the moving average trending higher, they may enter the market on a retest of the moving average. Likewise, if the trader is already long in an uptrend market, then the moving average can be used as a stop loss level. The opposite is true for down trends. The charts below are examples of how the moving average can be used as a both a support and a resistance level. 3.Making use of multiple moving averages It is common for traders to make use of multiple moving average indicators on a single chart, as depicted in the chart below. This allows traders to simultaneously assess the short and long-term trends in the market. As price crosses above or below these plotted levels on the graph it can be interpreted as either strength or weakness for a specific currency pair. This method of using more than one indicator can be extremely useful in trending markets and is similar to using the MACD oscillator. When making use of multiple moving averages, many traders will look to see when the lines will cross. This phenomenon is referred to as ‘The Golden Cross’ when a bullish pattern is formed and ‘The Death Cross’ when the pattern is bearish. A Golden cross is identified when the short-term moving average (such as the 50-day moving average) crosses above the long-term moving average (such as the 200-day moving average), while the Death cross represents the short-term moving average crossing below the long-term moving average. Traders that are long, should view a Death Cross as a time to consider closing the trade while those in short trades should view the Golden Cross as a signal to close out the trade. MOVING AVERAGE INDICATOR: A SUMMARY In summary, the Moving Average is a common indicator used by traders to determine trends in the market. Many traders use more than one Moving Average at a time as this gives a more holistic view of the market. Moving averages are often used to determine market entries as well as support and resistance levels. BECOME A BETTER TRADER WITH OUR TRADING TIPS Learn more about the moving average and other technical indicators Learn more about how to be a successful trader with the Traits of a successful trader training guide Get tips on how to create trading plan Article by Tammy Da Costa, Markets Writer, 12th July 2021. DailyFX
  23. Hard lockdown extension and political unrest weigh on the rand Source: Bloomberg Hard lockdown extension and political unrest weigh on the rand. The rand has found itself under renewed duress, this time predominantly from factors domestic rather than those external. While an extended hard lockdown in South Africa will have provided some domestic excuse for ZAR weakness, looting and violence in Kwazulu-Natal (KZN) and Johannesburg have further decreased short term appetite for the currency, which reflects Africa’s most advanced economy. Violence and destruction of property in KZN, and to a lessor extent in Johannesburg, appears to have stemmed from political activism from those protesting the recent incarceration (for contempt of court) of former South African president Jacob Zuma. The rioting has caused many factories and businesses in KZN to shut down temporarily, as fear and the unavailability of public transport disrupt economic activity in lieu of safety. The South African National Defense Force (SANDF) has now released a public statement in which it has guided that the process of deploying military to assist law enforcement in regions affected has begun. Political unrest and violence is expected to continue to weigh on the rand until such time as government and its authorities can gain some control over the matter. The need to deploy military assistance to the matter highlights the severity thereof. Dollar strength another risk to the ZAR The new week sees two key catalysts which could affect the dollar and in turn its crossing with the ZAR. External themes such as the path of monetary policy in the US remain prevalent in the longer term outlook for movements against the ZAR. The US will release inflation data on Tuesday a key metric for Federal Reserve policy and the timing of rates and stimulus unwinding. The inflation data is followed by commentary on Wednesday from Federal Reserve Chairperson Jerome Powell. The USD/ZAR – Technical Analysis Source: IG Charts The USD/ZAR has now started to move aggressively towards our previously guided target of R14.55/$. The move higher starts to further validate our assumptions that this could be the start of a longer term trend reversal (from down to up). A break of the R14.55/$ level sees R14.70/$ and R15.10/$ as further upside resistance targets from the move. Traders who are long might consider using a close below R14.13/$ as a stop loss indication. In Summary - Violence and looting in KZN and Johannesburg couples with an extended lockdown to see rand underperforming emerging market peers - Business activity in KZN has been severely disrupted as public transport grinds to a halt and factories and businesses address safety concerns - The SANDF is in the process of deploying military to support law enforcement agencies - The civil unrest could continue to weigh on the rand until such time as the Government can regain control of the situation - US inflation data on Tuesday and commentary from Fed Chair on Wednesday is likely to affect short term ZAR movements - Short term trend for USD/ZAR is up with R14.55/$ and R14.70/$ initial resistance targets Shaun Murison | Senior Market Analyst, Johannesburg | Publication date: Monday 12 July 2021 17:29. IG news
  24. Hi @dreamingmonkey, thanks for your question. The replay function unfortunately is not available on the IG web platform but is available on our MetaTrader 4 platform using strategy tester function on your PC/Laptop. I will pass this message to our developers team. To find out more on the different features of our platforms and comparisons please kindly visit https://www.ig.com/uk/trading-platforms/compare-trading-platforms. All the best - Mongiwethu
  25. Hi @bill02, may you please kindly take a screenshot of your charts on your mobile device and also take on your laptop for both Bitcoin and Ether. Make both charts 4hour timeframe for each instrument, so we can have a look see. All the best - MongiIG
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