Usdzarlong
USDZAR approaching support, potential bounce! USDZAR is approaching our first support at 6.7169 (horizontal swing low support, 61.8%, 100% Fibonacci extension, 23.6% fibonacci retracement) where a strong bounce might occur pushing price up to its resistance at 6.8762 (horizontal overlap resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement).
Stochastic (21,5,3) is also approaching support and we might see a corresponding bounce in price.
USDZAR approaching resistance, potential drop! USDZAR is approaching our first resistance at 6.8550 (horizontal overlap resistance, 23.6% fibonacci retracement) where a strong drop might occur pushing price down to our major support at 6.7253 (horizontal pullback support, 100%, 61.8% fibonacci extension, 23.6% fibonacci retracement).
Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price .
USDZAR - Daily Key Elements Key levels to look out for, please refer to 4 hour chart for strategic view!
USD/ZAR Short Term Long Trade IdeaUSD/ZAR had impulsive bullish movement at the end of last week, followed by a recent correction, which landed at a key level of 61.8% fib level before the next impulsive move. Price action is resembling a bullish pennant, which if played out, would land at at the next key level as noted. Trade at your own risk. Long term I anticipate price to run back to $15 to $16.
USDZAR - Long breakout for completion of Flat structure. USDZAR is correction the impulsive leg down as flat type structure. C leg is still remaining to complete the structure in the B wave of the larger ABC correction.
Watch this correction to breakout for long trade to test the top.
USD/ZAR Trade IdeaThis trade idea is for demonstration and educational purposes only. We see that price tested the $15 levels and above very recently this year; it has potential to reach these prices again, especially given the economic uncertainties in South Africa. As you can see, price retraced from the most recent bull run, it bounced off the 50% fib level (see yellow oval highlighted area) with an impulsive move. The two yellow ovals represent key levels in the market. The impulsive move leads me to believe that there are enough buyers in the market to push price back to at least $15.2 - $15.7 area as a first TP, with potential to reach 16.0 plus price. The areas highlighted in yellow are key areas for which we should watch price respond. As this is a swing trade idea, my stop loss was placed beneath the last swing low point. Again, I am a student of the markets, and the rand is very volitile. Please ensure trade at your own risk and always use proper risk management when trading.
USDZAR Long - The forbidden Fruit Price has presented an opportunity to press the ZAR to 16.50
The 4hr bearish trendline was broken and new support was found to the upside.
I am well aware that the USDZAR can become extremely volatile, hence the tight stop.
Any break below the current trend line and i will be taking profit.
USD/ZAR Long IdeaUSD/ZAR bounced off the 61.8% fib on the weekly chart. Possible head and shoulders, pattern is forming, with price extending to 61.8% fib level on the daily chart in the short term. Also the economic and political conditions in South America forecast a deterioration of the Rand, and a turn to the USD for safety. This trade is for demonstration and educational purposes. Trade at your own risk.
TP 1: 14.82921
TP2: 15.03469
USD/ZAR Target: 14.4637 FX:USDZAR
15 minutes chart.
Enter @14.4007. Target: 14.4637
Potential profits of 630 pips.
USDZAR - bullish divergence.. buyI don't trade USDZAR but got request from one of my follower...Buy USDZAR now take profit in the chart..please make sure to book profit at every target.
Please hit like, share and follow for more ideas.
Vinny
Usdzar Buy setup with Pin bar and Fakey BarUsdzar Buy setup with Pin bar and Fakey Bar
SL TP in Chart
USDZAR LONG ENTRYPossible long entry on H1 of USDZAR. Currently approaching long term Demand zone.
Buy at D, place SL below X if you take entry. Place TP at point C
USDZAR BREAK ALERTIn this examination I see USD (US Dollar) pulling ZAR (S.A. Rand) up until the 13.6 stamp which is furthermore an indispensable pointy because I am expecting a break after a retracement for a few pips then we'll see whether it breaks or not. I really think it is well while in transit to break since it has been an outrageous get in South Africa to the degree TAX rates are concerned and earlier the petroleum increment one month from now (August 2018), which denotes the third increment in 5 weeks.
The South African Rand - An African TeacupUSDZAR goes bullish towards the median line between the previous resistance and support (around the 13.00000 region) .
Scenario 1: The momentum is enough to carry the US DOLLAR upwards to the next Fibonacci line around the 13.45000 region, 7000+ pips upwards.
Scenario 2: The DOLLAR does not have sufficient strength to break through the median line and instead falls back down, completing the historical "teacup".
See my previous USDZAR idea here:
Buy USD-USDZAR Technical AnalysisUSD under-valued and momentum in both the weekly and 4HR charts shifting from oversold territory.
Short term targets at 12 with stops at 11.64
USDZAR - Go Long @ 13.72Weekly uptrend still intact (USD long position squaring ahead of big political/credit events). Corrective phase should last until 13.70 area (support trendline). Target ard the year's high - 14.50
ANC prez candidate nomination + nov 24th rating review could provide needed catalyst.
Buy @ 13.72
Take profit @ 14.52
Stop Loss @ 13.58
