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(Buy) USDZAR Technical Analysis for April 26, 2018Hello Traders, I have been watching USDZAR for a while. Well, I must say, the time is ripe to look for under-valuations in lower time frames and buy. First, like we mentioned in the previous article, the middle BB in the weekly chart was our main liquidation or the resistance line. However, as it is,the USD is now trending above this line and with a whole candlestick likely to close above it, we can as well trade a break out pattern with stops at this week’s lows. Besides, we have this stochastic buy signal turning from deep the oversold territory complete with higher highs relative to the lower BB. Because of this confluence of technical formations, we shall zoom in to the 4HR chart and look for stochastics buy signals before ramping up buys. In the 4HR chart, ZAR bulls are driving prices lower. This is expected because this week was largely bullish and because this is but a minor correction-at least from my point of view, I expect USD bulls to find support anywhere between 12.15 and 12.25. Of course, it will be perfect if we have a stochastic buy signal printing between this support zone since it would cement our bullish projection and help build the much needed momentum. This is my USDZAR trade plan Buy Limit: 12.15-12.25 Stops: 12.15 Take Profit: 13-14.50 Let me know what you think. Have a good trading day!!! This TA was first published by at Forex.Today under Dalmas Ngetich
Long
by Kipyegonn
(Sell) EURUSD Technical Analysis for April 25, 2018Hello Traders, From our previous preview of this pair, all we needed were lower lows and that we got as price action shows. As you can see, not only is there is a stochastic sell signal in the weekly chart but bears are capitalizing on that clear bearish divergence following an over-extension/EURO over-valuation by week ending February 2. However, that’s not all. There is a bear break out below the main support trend line in the weekly chart. This therefore means the only way of turning a decent profit is to trade with the trend and that means taking short positions in lower time frames. If bear momentum is strong, assuming we see a divergence of %k and %d in the weekly chart in the coming sessions, then we can enter shorts right away without expecting prices to bounce back as they do whenever there is a break out like this. In the 4HR chart, sellers are on the upper hand. Despite earlier bull pressure following a stochastic buy signal and a confirming candlestick, prices are fading that move. Conservative traders can wait for a break below 1.218 or this week’s lows before initiating sells but if you want to short now then you can with stops at 1.2250. Because of this inclination, my EURUSD trade plan will be as follows: Sell: 1.221 Stops: 1.225 Take Profit: 1.16 Let me know what you think. Have a good trading day!!! This Analysis was first posted at Forex.Today by Dalmas Ngetich
Short
by Kipyegonn
(Buy) USDZAR Technical Analysis for April 18, 2018Hello Traders, Today we shift our focus to USDZAR and from the charts, we can see that the ZAR is generally bullish but it looks like the USD is turning the corner if technical developments is anything to go by. As you can see in the weekly chart, USDZAR prices are generally moving up and with a stochastic buy signal turning from deep the oversold territory, we should be angling for USD buy opportunities in lower time frames. Word of caution, let’s not rush and commit ourselves without sufficient reasons to. From the chart, USDZAR price action is finding resistance at the 20 period MA or the middle BB in the weekly chart and if indeed there is a break and close above 12.2, then we can as well ramp up bulls. In the 4HR chart, we have some sort of a USD undervaluation with a whole bull candlestick printing below the lower BB. Because of this-and as historical prices shows-correction to the upside is inevitable. We are already seeing this and with those higher highs, aggressive traders can buy USD with stops below this week’s lows at 11.95. After all, if we buy, we are aligning ourselves with the weekly trend and increasing our odds of a possible break out. Advised by this, my USDZAR trade plan is as follows: Buy: 12 Stop Loss: 11.95 Take Profit: 12.60 Have good trading day and let me know what you think!!! This Post was Originally Posted at Forex.Today by Dalmas Ngetich
Long
by Kipyegonn