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USDZAR

$USDZAR Continuation or not?Triangle consolidations are normally continuation patterns in the direction of the preceding trend. I for one doesn't hope this plays out but nevertheless as traders we can't let our emotions get the better of us. Triangle is still in development but one to keep an eye on as we approach the bottom end of the channel. A potential rate cut by the SARB tomorrow could be rand negative and supports a bounce off the bottom of the channel. In either scenario, one would wait for a break of the triangle to confirm direction, but should we continue in the same direction of the previous trend and breakout eventually, the triangle projects a target of 20.10-20.30 against the US Dollar.
Long
by MarcoOlevano
3
Potential Short-Term Long for USDZAR?blI have denoted the two movements I believe are possible given the technical analysis I have conducted with two different coloured sets of arrows. The purple arrows denote the possibility of price making a more immediate rebound from the lower bound of the daily pennant against which it currently has support, possibly to the upper bound of the 4H channel or the upper bound of the daily pennant, the yellow arrows denote the possibility of a short term break of the daily pennant to the 4H support zone, prior to re entry of the daily pennant. Both possibilities fall in line with the bullish price trend associated with the lower bound of the daily pennant. I will be trading this on the 1H should the black countertrend line I have drawn in be broken correctly. Note has to be made of the MPC meeting this week. I am only trading this pair on the 1H given the unpredictability of long term movements.
Long
by Papache
Long USDZAR DailyFX:USDZAR has recently entered a consolidation zone that concludes the is indecisiveness in the market mainly because of the corona virus pandemic. An Ascending Triangle is formed that proves bullish movement to continue. Rising Volume combined with the ascending triangle indicates that Bulls will most likely win this round. Another strong factor to consider is that FX:USDZAR is in a uptrend and therefore a buy order makes more sense. Take Profit targets will be recommended at R19.00000
Long
by OT_Forex
Potential Short-Term Long/Short for USDZAR Cont.I have denoted the two movements I believe are probable given the technical analysis I have done with two different coloured sets of arrows. In both scenarios I believe there may be a test of the upper bound of the 4H channel prior to the movement taking place. The purple arrows denote the movement I believe will take place if the 4H channel is re-entered and the bottom bound of the 1H channel is broken, which I believe may lead to a bearish price movement to the lower bound of 4H channel before a bullish price movement takes place. The green arrows denote the movement I believe will take place if the 4H channel remains broken after the test, after which I believe the 1H channel I have drawn in will continue to be respected to the 4H resistance zone before making a bearish price movement. I'm trading the USDZAR strictly on the H1 given the unpredictable nature of its longer term movements. Let me know if you agree/disagree.
by Papache
The US dollar to South African exchange rate easesThanks to the adjustment in South Africa’s lockdown, which allowed some industries to continue operating, the US dollar to South African exchange rate eases. The move allows the rand to keep the greenback on its back foot as it maneuvers to take back its losses. Since March, bullish investors have successfully propelled the 50-day moving average significantly higher than the 200-day moving average, and now bears are determined to stop it from further advancing. Moreover, the South African government has lowered the closure restrictions, allowing sectors such as ports, essential maintenance, and basic material sectors to resume their production or activities. However, the recovery of the economy and sectors re expected to remain protracted. Experts also question whether bullish investors have enough strength to force the USDZAR trading pair lower as the 400 trillion-rand stimulus package weighs on the South African currency.
Short
by Financebroker
USDZAR SHORT TERM THEORY...A BIT OF WAVING & TECH ANALYSISHi Traders! I hope everyone is doing great. We as speculative traders have stayed in the same type of zone because we are naturally in lock-down with these 2 screens in from of us. Simply meaning not much has changed in my trading world. Except for everyone who was used to specific bias ideas and got shifted when the market took a dive early this year. Nonetheless here is an idea of USDZAR short term concept. See how it fits into your idea. I missed the buy, but with patience and tracking I should be able to catch the opposite today or tomorrow. Till next time, FIBZ
by fibznwavez