USDZAR. The corrective structure could have been completedWXYXZ triple three could be completed.
MACD shows bullish divergence
RAND
$USDZARFX:USDZAR
Making flat bottom triangle. Break bellow 13.50 will open 11.50 as target, low from March 2018
ZAR JPY BUY (SOUTH AFRICAN RAND - JAPANESE YEN)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
USD/ZAR Short IdeaMy idea for USD/ZAR. Price is currently making a Lower Low, after Lower High and again LL.
Use tight stop loss.
Gl
USDZAR: The long term bearish outlook.This pair is on a recurring bearish pattern sequence on the long term 1W chart. This mix includes a parabolic rise, which when it reaches a top, it develops a Channel Down on 1D (RSI = 37.566, Highs/Lows = -0.3871, BBP = -0.4893). This Channel Down is currently targeting 13.27600 and 12.800 in extension.
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USD/ZAR 1 Hour chartThis pair is at the crossroads, so we wait for either a break to the downside signaling a sell, or a bounce on the descending channel support to the upside signaling a buy. Either way, it's gonna fell like thanksgiving again!
Waiting for the pull back to get long on FirstRand.FirstRand Limited is a South African financial services provider which provides services through a portfolio of leading franchises including Rand Merchant Bank (RMB), First National Bank (FNB), Wesbank and Ashburton Investments.
With FirstRand shares listed on the Johannesburg Stock Exchange (JSE) and the Namibian Stock Exchange, the group is one of the largest financial institutions in South Africa, offering an all-ecompassing variety of financial services ranging from corporate, investment, retail, personal and commercial banking, to installment finance, insurance and investment management.
FirstRand operates in eight other African countries: Botswana, Mozambique, Namibia, Swaziland, Lesotho, Zambia, Tanzania and Nigeria. The group also has offices in India, China, Dubai and London. FirstRand has high levels of surplus capital for investment across the African continent, allowing it to expand its geographic reach and revenue streams, to the benefit of those who buy the shares.
Technical
I am expecting to see a reversal at some point soon for the completion of wave 3 to the downside. I am however not interested in the short at this stage and will wait for the low at the end of wave 1 to break before I will be looking for an entry to the upside.
ZARJPY: Approaching the Resistance.The price action has been narrowed down from a Channel Up to a Rising Wedge on 1D (RSI = 63.891, MACD = 0.106, Highs/Lows = 0.0795). Technically every pull back up to 8.000 is a buy towards the 8.550 Resistance (ext. 8.876).
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EUR vs ZAR - Long 03/13/18Going to play Long here on the Euro vs South African Rand. Just playing the pullback to fib levels, might get rejected there and fall lower, might make a bottom here and change trend. Showing divergence with the MACD and double bottom, good RR. Find a pull back on the 15min and take profit on targets, stoploss under the low.
Can be played with BTC and massive margin @ bit.ly
Target hit. Channel Up continuation. New Long.TP = 15.400 hit, quicker than expected, as the 1W Channel Up (RSI = 57.959, MACD = 0.486, B/BP = 1.1840) aggressively moved towards a new Higher High. Equally aggressively it has pulled back (Highs/Lows = 0) to a new Higher Low on our projected curve support. We have already bought this low and our long's TP is 15.88200.
$USDZARFX:USDZAR
Stuck in the up trend channel but testing bottom of it.
Quite overbought so could be we some some strength for the #RAND here.
USDZAR LONGAfter breaking resistance, market has come back to retest the levels it broke which I see as good buy areas.
South Africas economy is currently under a lot of pressure.
Any break above 15.32 would be a key precursor that we are heading higher
Revisiting the RandOn the 1st March of this year, we wrote about a potential reversal in the trend of the Dollar Rand. With the recent news and headlines, we have seen a strong breakout in volatility and the price. If you would like to read the previous post, visit it here www.blackwellglobal.com
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