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One way traffic for South African Rand and Brazilian Real

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Eddie Tofpik, Head of FX at ADMISI speaks to Nick Batsord about the rise of the USD against the South African Rand and the Brazilian Real, meaning the Rand and Real are steadily dropping in value. Tofpik looks at the fundamental reasons why the Rand is dropping. Tofpik highlights the ongoing political situation in Zimbabwe and the contagion risk having an impact on the Rand. He also notes the upcoming credit rating assessment of South Africa. Technically the Andrew's Pitchfork trend indicate a downward trend in the value of the Rand. Moves lower in USDZAR are opportunities to accumulate and rises towards the top of the trend channel are opportunities to fade long positions. Focusing on the USDBRL, Tofpik discusses the fulfilment of a recent pattern in USDBRL. Previously unsure of where the pair may trend, now the Brazilian holiday is over the direction is becoming clearer despite a bow tie formation of the moving averages, the X3 target around the 341 level. Core Finance is part of Core London, a TV production company based in Belgravia, London. Core Finance aims to provide its viewers with insightful market commentary, helping investors navigate global financial markets. Making the content provided invaluable to viewers. Our shows are closely followed by fund managers, day traders, retail investors, company CEO's, experienced investors and those new to the financial markets. Core Finance covers all asset classes ranging from currencies (forex), equities, bonds, commodities, crypto-currencies, ETF's, futures and options. Views expressed are solely those of guests and presenters and do not constitute investment advice and are not the views of Core Finance or Core London. See More At: www.corelondon.tv Twitter: @CoreLondonTV Facebook: CoreLondonTV
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