HomeHome SearchSearch MenuMenu Our productsOur products

It's time to sell the Rand

by , 29 October 2019
It's time to sell the Rand
The Rand has made a strong recovery against the major currency pairs over the past month.

And faces several headwinds this week with the Mid-Term Budget Speech due tomorrow.

There's also the Moody's decision and a slew of important data points from the US, Europe and the UK.

These events have the potential to see the Rand lose 50c or more in the coming weeks against the USD.

Look at the chart below, highlighting the important support levels the Rand is up against.

We could see some continued strength today and tomorrow, before selling pressure pushes the Rand back to R15.00 against the USD.
 
Buy the rumour, sell the fact - and profit from ZAR weakness
 
This is a typical case of buy the rumour, sell the fact at play, as traders’ price in a favourable outcome from the mid-term budget speech and Moody’s. Once the positives are out, they look at the next batch of market moving news that can impact forecasts.
 
In the short term, the Rand has run too much and it’s time to start selling it to get funds offshore.
 
Short term traders can take geared positions and profit as the Rand weakens against the USD.
 
Sell the Rand against the USD below R14.55 and profit as it weakens to R15.00 and higher. [Remember: This means you will be going long the USD/ZAR currency pair at R14.55 or better.]
 
________________________________________
 
This small investment holdings company will reap what Pioneer sews!
 
I think this company is an absolute cracker which you may wish to add to your speculative portfolio immediately.
 
Now I’m not going to give you the name and ticker symbol in this public forum because if I do it may get swamped…possibly meaning you won’t be able to get in under my buy-up-to price.
 
  
________________________________________
 
 
Grow your portfolio with these JSE “Safe Haven” investment opportunities
 
For investors looking for simple offshore exposure with downside protection and pre-determined returns, there are three new “Safe Haven” investments available to investors.
 
These are the latest Autocall structured products from Investec, for investors looking for downside protection, offshore exposure and possibly benefit from Rand depreciation.
 
An autocall structured product allows investors to make a profit in year 1 if the index is flat or positive, if it’s negative, then it will roll over for up to 5 years. Each time, it provides for the positive return to be multiplied.
 
All fees are built into the price, so you get exposure to 100% of your investment amount and all returns are quoted net of fees.
 
Contact me at trader@protrade.co.za for more information, closing date is next week 6 November.



It's time to sell the Rand
Rate this article    
Note: 4.5 of 5 votes

Have a trading or investing question? Click Here


Related articles



Related articles


Watch And Learn




Trending Topics