EUR/ZAR is going up to R22.00 and I hate to tell you this!

Here's an analysis I really don't want to do.

The EUR/ZAR is showing strong upside to come. Great for the EURO, great for Europe, Great for South African exports.

Not great for the South AFrican consumer who was planning on sailing to Mykonos this year.

Anyways, here are some reasons for the EURO strength and why we could see the ZAR come down a bit.

Economic Woes:
South Africa's economic struggles and political uncertainty are weakening the Rand, pushing the EUR higher 😟💔

Commodity Concerns:
Falling commodity prices hit South Africa hard, making the Rand lose steam against the euro 📉⛏️

Monetary Policy Gap:
Divergent monetary policies—stable ECB rates vs. easing in South Africa—favor a stronger euro 💶🔄

Global Risk Aversion:
Investors seek safe havens during uncertain times, boosting the euro over emerging market currencies like the Rand 🌍🛡️

Capital Outflows:
Local capital is fleeing South Africa amid domestic worries, further devaluing the Rand and lifting the EUR/ZAR pair 🚀💸

TECHNICALS

What can I say. W FOrmation with the price breaking above 20 and 200MA.

The target is on the way to R22.00 if the uptrend continues.

I hope I am wrong.

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