USDZAR
USDZAR Double confirmation sell signalThe USDZAR pair is trading above both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line), on a strong consolidation phase as it approaches the end of an 8-month Triangle. Having been rejected last week very close to not only the Triangle's top but also the (dotted) Channel Up top (Lower Highs trend-line), we have a strong short-term sell signal in our hands. Our Target is Support 1 at 18.555.
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USDZAR BULLISH TREND WILL CONTINUOUS TO 20.00 HI FRIENDS!!
As we can see this USDZAR again near at support zone we have good chance to join the rally
as we can see US $ is holding support and all major pairs. this pair is also holding a strong support and trading above a uptrend line zone, so our risk and reward ratio is fantastic on this pair let's see what markets brings its just a trade idea share Ur thoughts with us it helps many other Traders.
STAYTUNED!
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#USDZAR stuck between 18.95 and 18.20. USDZAR some interesting developments for the Rand bulls. 50dma < 200dma (death cross). 3 lower highs forming what could be a potential flat bottom triangle with the base at 18.10-18.20.
Some bullish characteristics here which could be shifting sentiment in favour of the bulls but it's still too early too call. Range bound between 18.95 and 18.20 now. A convincing break above or below the two levels will be needed to force a move in either direction.
Tricky btu definite buy for USD/ZARA clear bullish move is in set for USD/ZAR in order to fill that massive imbalance on the left side. Wanting to enter off strong demand zone where we can see price react off of and consolidate in the past.
Watch out for the liquidity depicted by the arrow. Only enter if there is a slow move to entry otherwise price may want to first capture that liquidity.
Hope everyone is having a great new years!
#USDZAR daily analysisUSDZAR saw a bearish reversal off the important 18.75 level which was strong support previously. Should we trade below friday's low at 18.61, i suspect we will see a re-test of 18.43. However if no follow through of the reversal occurs and price manages to gain traction above 18.75 i would then expect the 18.90 level to come into play where we find the 50dma and the downtrend resistance. My gut says back to 18.43 the more likely action given friday's candle structure
USDZAR: Long term Channel Up preparing the final rally.USDZAR is trading around the 1D MA50 on neutral technicals (RSI = 45.374, MACD = -0.003, ADX = 21.007) but on a long term Channel Up for the past 2 years. This current consolidation has been the accumulation period in the two bullish legs prior before the final rally to a Higher High. This is our buy entry and we aim at the top of the Channel (TP = 21.000).
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USDZAR One last High before this 3-month rally is exhausted.The USDZAR pair made a 4-month High last week, extending the 3-month rally since the Higher Low at the bottom of the Channel Up pattern on July 27. With the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) supporting, based on the previous Higher High, the price has one last run to make before getting exhausted. Our target is the 1.5 Fibonacci extension at 20.2500.
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USDZAR sellThis sell could print really nice, price is right now trying breakout to the upside. If it fails to break, we could see it retracing back to around 18.15! My trendline was made with the first two tops that price made, giving the idea that price already tried and failed creating a fake breakout early this month.
Will wait for today's candle closure. If below trendline will open a position with stop loss at 19.15.
#USDZAR needs a close below 18.80 for further strengthUSDZAR has held the 18.80 support level for now but the long upper tails over the 19.00 level shows the rand bulls in control of price action for now. A daily close below 18.80 should bring about levels of 18.60 and 18.40. 200dma sits at 18.26 and the pair has a tendency to mean revert back to the 200dma before finding support in the recent past.
USDZAR Ascendıng trıangle Hello Everyone we are tradıng now thıs ascendıng channel untıl waıtıng for a breakout
the breakout from the up or down from thıs channel,
the breakout suppost to be to downtrend 18.500 or to uptrend on the 19.300 after retesting it on that price,
until that time we have a trade with the ascending triangle
Set the \TP : 19.300
SL : 18.900
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USDZAR ForecastThe USDZAR seems ready to be bullish, no long ago we anticipated a correction for wave (2) which then occurred and traded to a 50% Fibonacci retracement.
The upside will last a lot longer we can expect it to break the previous high with a Fibonacci projection of 1.61.8 as that is common for wave 3s to extend to that level.