EURZAR, a positive swap trade.
Shorting EURZAR is currently yielding a positive swap interest, but any "carry" trade must also choose a good entry. The weekly chart can provide us this entry.
Last week, a bearish pinbar candlestick emerged and is seeing continuation this week so far. If this is confirmed by the end of this week, an entry makes sense. The trend is also bearish (lower high, lower lows).
On fundamentals, this is neutral to slightly bearish. ZAR is an exotic, more fragile currency. But the current climate makes the EUR very unattractive (conflict with Russia), while South Africa remains neutral.
Last week, a bearish pinbar candlestick emerged and is seeing continuation this week so far. If this is confirmed by the end of this week, an entry makes sense. The trend is also bearish (lower high, lower lows).
On fundamentals, this is neutral to slightly bearish. ZAR is an exotic, more fragile currency. But the current climate makes the EUR very unattractive (conflict with Russia), while South Africa remains neutral.
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