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USDZAR

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 🐂🐻👍🏽👍🏽👍🏽
Short
by PULEMokhothu
2
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%.
Long
by Financebroker
Two buy opportunities on this chart for USDZARMid-Term Forecast: Trading suggestion: . There is a possibility of temporary retracement to suggested support line (16.545). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . USDZAR is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 53. Take Profits: TP1= @ 17.2610 TP2= @ 17.7630 TP3= @ 18.6940 TP4= @ 19.3420 TP5= @ 21.4450 SL= Break below S3 -------------------------------------------------------------------------------------------------- Short-Term Forecast: Trading suggestion: . There is a possibility of temporary retracement to suggested support line (16.784). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . USDZAR is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 55. Take Profits: TP1= @ 17.2610 TP2= @ 17.5260 TP3= @ 17.7655 TP4= @ 18.1270 TP5= @ 18.6915 SL= Break below S3 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
14