Eurzarshort
EURZAR Bearish CypherA bearish Cypher on the Weekly timeframe is near completion. Price is currently within a Weekly order block and we will most likely see a lot of trapping behavior in this region. This area is arrived at after a very long bullish trend and so as a result we will most likely find a build-up of both institutional volume as well as day-trader volumes. On the daily time frame, the final bearish trend will only be signaled by a noticeable pattern such as a double top, head, and shoulder pattern with significant confirmations around the AoI- Area of Interest. Please note this is a long-term projection and positions for holding long can only be held after the Daily time frame shows the noticeable pattern.
EURZAR | Bearish Flag EURZAR after being in a bearish trend (the pole of the flag) moves into the bullish parallel channel. The current price is at the middle of the channel. Two possibilies are here;
The bearish flag pattern will come into play and price will drop sharply if it breaks down the channel.
However the breaking above will result in bullish continuation and one can enter long
Trade your levels accordingly.
SUPPLY AND DEMAND - EURZAR (13-18Dec)MN TF - Uptrend
WK TF
Temporarily reacting off WK Supply zone as the price is holding
D1 TF
EUR/ZAR:FUNDAMENTAL ANALYSIS+PRICE ACTION|NEXT TARGET|SHORT🔔🔔The Eurozone CPI for July is predicted to decrease 0.1% monthly and increase 2.2% annualized. Forex traders can compare this to the Eurozone CPI for June, which increased 0.3% monthly and 2.2% annualized. The Eurozone Core CPI for July is predicted to decrease 0.4% monthly and increase 0.7% annualized. Forex traders can compare this to the Eurozone Core CPI for June, which decreased 0.4% monthly and increased 0.7% annualized. The Eurozone Harmonized Core CPI for July is predicted to decrease 0.3% monthly and increase 0.9% annualized. Forex traders can compare this to the Eurozone Harmonized Core CPI for June, which increased 0.2% monthly and 0.9% annualized.
The South African CPI for July is predicted to increase 1.1% monthly and 4.6% annualized. Forex traders can compare this to the South African CPI for June, which increased 0.2% monthly and 4.9% annualized. The Core CPI for July is predicted to increase 0.5% monthly and 3.1% annualized. Forex traders can compare this to Core CPI for June, which increased 0.3% monthly and 3.2% annualized.
The forecast for the EUR/ZAR turned bearish after price action failed to extend its rally, set a lower high, and formed a double top.
Can bears pressure the EUR/ZAR into its horizontal support area?
You can find our Website/Telegram Links in Description Below in "Find me on" ↓↓↓
EUR/ZAR: FUNDAMENTAL FORECAST + PRICE ACTION|SHORT SETUP 🔔German Industrial Production for April is predicted to increase 0.5% monthly. Forex traders can compare this to German Industrial Production for March, which increased 2.5% monthly. The German ZEW Survey Current Situation Index for June is predicted at -27.8, and the German ZEW Survey Economic Sentiment Index at 86.0. Forex traders can compare this to the German ZEW Survey Current Situation Index for May, reported at -40.1, and to the German ZEW Survey Economic Sentiment Index, reported at 84.4.
The advanced Eurozone GDP for the first quarter is predicted to decrease 0.6% quarterly and 1.8% annualized. Forex traders can compare this to the previous Eurozone GDP for the fourth quarter, which decreased 0.7% quarterly and 4.9% annualized. Eurozone Employment for the first quarter is predicted to decrease 0.3% quarterly and 2.1% annualized. Forex traders can compare this to Eurozone Employment for the fourth quarter, which increased 0.3% quarterly and decreased 1.9% annualized.
The South African GDP for the first quarter is predicted to increase 2.5% quarterly and decrease 3.2% annualized. Forex traders can compare this to the South African GDP for the fourth quarter, which increased 6.3% quarterly and decreased 4.1% annualized.
The forecast for the EUR/ZAR remains bearish with the economic outlook for the Eurozone and how the ECB will handle inflation than for South Africa and the SARB.
Will bears remain in charge of price action in the EUR/ZAR and force it into its next horizontal support area?
EURZAR Short Trend Is Your Friend
1. One touch, Two Touch and Three Touches
complete a trend.
2. EMA acting as dynamic resistance
3. Market has entered an area of sensitivity
@ 19.8000 also know as a psychological level
where institutions place orders and take profit
4. Waiting for 3 two hour candles to show signs
of rejection to place sell order
5. Sell @ 19.70000 and SL @ 20.10000
TP @ 18.80000
EURZAR 19.95345 - 0.04 % SHORT IDEA * CONTINUATION PATTENS Hey everyone
Here's an idea on the EURO / ZAR pair that has been rallying with the bears and was rejected at support level 19.77624 and pushing up trading in a ascending triangle looking for a continuation of this move with the bears in the coming week.
looking for a break of support level 19.77634 to trigger the trade if there are significant moves with the bulls the trading plan will change completely.
let's see how it goes.
HAPPY TRADING EVERYONE
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES ON PENDING ORDERS
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.