USDZAR top-down AnalysisHello everyone, if you like the idea, do not forget to support with a like and follow.
on WEEKLY: USDZAR is sitting around strong demand in blue and rejecting a green trendline so we will be looking for trend-following buy setups on lower timeframes.
on H1: USDZAR is forming a trendline in red so we are waiting for a new swing to form around it to consider it our new trigger swing.
Trigger: Waiting for a momentum candle close above the gray area to sell.
and until the buy is activated, this one would be overall bearish and can still dive inside the blue zone.
Good luck!
USDZAR
UASDZAR looking to put in a bottomwe have finally reached the weekly supply zone that we have been waiting for since june. Momentum is still strong, so you wold expect to see some sort of basing/accumulation forming at these levels. Looking at the daily chart, we can see them starting to slow it down, however, we will look for the weekly to continue to hold support.
USDZAR - Trend Change and Diversion in place - Swing Trade 📍 10+ years experience in markets
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KEY NOTE - SPECULATIVE SETUP - not a financial advise - do your own analysis
Please use STOP LOSS and don’t risk more then 1% or maximum 2% of your total account
⏳ 1 day Chart analysis
DM for more details - Tagged Long
USDZAD LONG - PRICE HAS REACHED WEEKLY TREND LINE AND SUPPORT!Price has been moving with strong bearish momentum on the weekly chart since we broke out of the support area in early November. We have now reached previous weekly support and a weekly trend line and if we see a strong shift from the bears to the bulls we could start to see the overall bullish trend for USDZAR start to resume again and give us a swing to test the previous support, now turned resistance that we broke out of in early November.