USDZAR
USDZAR 4HRS ANALYSISHello Traders, here is the analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
USDZAR 4H PRICE ACTION, STRUCTURE CONTINUATION IDEA.Hey Everyone
Here's an idea on the USD/ZAR which is currently trading below the 50 M.A in a symmetrical triangle.
Targeting a break below since from the monthly and weekly time frames the pair is retesting the 50% Fib on a pull back, looking for continuation of this move with the bears.
A break above of structure changes the trading plan.
I hope the idea assists in anyway on your trades on the pair.
Good luck &' happy trading 🐂🐻👍🏽👍🏽👍🏽
SOUTH AFRICAN RAND STRUCTURE ANALYSIS|
USD_ZAR IS TRADING IN A FLAG/TRIANGLE
FUTHER MOVEMENT WITHIN THE TRIANGLE IS EXPECTED UNTILL THE BREAKOUT
Given that I am bullish on the Dollar and considering the situation in South Africa,
I expect the breakout upwards, as when the Dollar strengthens properly,
the weakest currencies fall first and faster than others.
And Rand is super weak.
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USDZAR Trendline Tested For Daily. Don't Miss this RideHi Fellow Traders FX:USDZAR
USDZAR has reach a location where it now testing the trendline of Wave 2 & Wave 4.
If this trendline is respected, we can see the price will go bull to complete Wave E before big jump to complete WAVE C on bigger timeframe
Don't miss this ride
usd zarwait for the broken of the channel and then you can buy just like you see there is a five wave move the most resonable thing to do now is to wait for the channel to broke because this it is our confirmation and then you you can enjoy the trade
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Trump and the South African randThe South African rand loses its footing in the trading sessions as the risk aversion in the global market intensifies after the breaking news about US President Donald Trump. The US dollar to South African rand trading pair is bound to go up to its resistance level in the coming days thanks to the uncertainties that have come when it was reported that President Trump contracted the coronavirus. However, there is still a possibility that the US dollar could slip, and the South African rand could see a window of opportunity to break out in the sessions. Investors are currently flocking towards safe-haven currencies, and the South African rand lost its footing against most major developing and emerging market players. The financial market is now uneasily waiting for the unknown outcome as the 74-year-old leader of the biggest economy in the world catches the fatal coronavirus. And unfortunately, the mortality rate for that age group is already at 6%.
USDZAR ANALYSISUSDZAR is in downtrend
Price broke neckline of double top pattern at level 16.8078 with strong bearish movement
Price is based below HVN at level 16.6595 which indicates pair is in distribution phase
Below SMA 100
MACD shows weakness in bullish momentum
RSI is below level 50
It's expected going down towards support level at 16.4025 as classical target from double top pattern
then finally target demand zone at level 16.0900