USDZAR Long - Weekly/Daily analysisUSDZAR has bounced off a Weekly/Daily support level , forming a higher low in an uptrend and bouncing off the 14 Weekly EMA . A continuation to 16.40000 (previous higher high) is expected.
Usdzarshort
The ideia is to short here on USDZARUsing 4h time frame we can see two possibilities to negotiate, but I would rather short now, we sow much rejection candle which means lateralization.
The better way is to wait for confirmation. I'm working here with the pull-back strategy.
Good Year!!!
USDZAR Analysis for SellI looking for Sell for USDZAR. It already touches the Daily TF OB and I believe is now creating the Distribution Schematic and is getting ready to sell. I've mark the areas where I think it will retest to sell.
SUPPLY AND DEMAND - USDZAR (13-18 Dec)MN TF - Downtrend
WK TF - Downtrend
D1 TF
reacting off Supply
H1 Entry
Wave analysis of usdzarClearly we on the fourth wave..
Am not good with words but let's see how this play out.
If you will be taking this, trade cautiously.
USDZAR SHORT - Sell Entry - D1 ChartUSDZAR SHORT - Sell Entry - D1 Chart
Symbol: USDZAR
Timeframe: D1
Type: SELL
Entry Price: Sell @ Market
Stop Loss: 16.35325
Take Profit: 14.85791
🔺 DISCLAIMER
🔺 For educational informational purposes only.
🔺 Analysis may change at any time without notice.
🔺 You must research and create your own trading plan.
USDZAR | BULLS TIRED?USDZAR | BULLS TIRED?
The bulls looks tired and taking correction in parallel channel.
They can either take support from parallel channel and continue making higher highs
Or the pair can break the channel and touch the recent low and bears take charge from there.
Key point highlighted on charts.
USDZAR ELIOTT WAVE ANALYSISlets talk chat patterns, this is an ending diagonal in Elliott wave language, and it is also known as rising wedge. always expect price to drop after a complete ending diagonal. for a low risk trade, you can wait for breakout.
USDZAR ELLIOTT WAVE ANALYSISusdzar showing alot of weakness ,price looks oversold, bullish momentum is very low.anytime we should see price dropping after completing wave b. our wave c should impulse .Patience and proper risk management.
ShortEQH as always indicator a sell area of liquidity, so we gonna sell it hard and its gona be sweet
USDZAR Top-down analysis, UPDATEDHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
USDZAR; head and shoulder patternUSDZAR formed a head and shoulder pattern which might give us a great shorting opportunity on breakout of the neckline.
What is your bias on USDZAR?
USD/ZAR: FUNDAMENTAL ANALYSIS + SHARK PATTERN FORMATION 🔔The South African Current Account for the second quarter is predicted at ZAR305.1B, and to the Current Account Percentage of GDP at 4.90%. Forex traders can compare this to the South African Current Account for the first quarter, reported at ZAR267.3B, and the Current Account Percentage of GDP at 5.00%.
South African Manufacturing Production for July is predicted to decrease 3.0% monthly and increase 3.6% annualized. Forex traders can compare this to South African Manufacturing Production for June, which decreased 0.7% monthly and increased 12.5% annualized.
US Initial Jobless Claims for the week of September 4th are predicted at 335K, and US Continuing Claims for the week of August 28th are predicted at 2,744K. Forex traders can compare this to US Initial Jobless Claims for the week of August 28th, reported at 340K, and to US Continuing Claims for the week of August 21st, reported at 2,748K.
The forecast for the USD/ZAR remains bearish despite its recent sell-off.
Can bears extend their dominance over the USD/ZAR and force more downside?
USDZAR-LONGCurrently on a short position but looking for a long position @ 12.70 this will take sometime to manifest but worth
the wait as there's money selling to the awaited level.
Have a great trading week & all the best on everything!!!
SHORT POSITIONUSD/ZAR
This last week saw considerable depreciation in the ZAR against the dollar, surrendering around 3.34% (taken at 18:00 CAT, Friday). A noticeable move was witnessed on Thursday which continued into Friday but later that day retraced off the intra-day high above 15.38.
This coming week could see a retracement towards the 15.00 psychological level but much of this depends on the level of USD appeal as riskier markets such as EM markets and major equity markets also experienced a sizeable sell off.
15.38 remains the most relevant level of resistance if the current trend is to continue with 15.57 and 15.70 the further upside resistance targets.
USDZARStill bearish on USDZAR. Short any price action below 15:00000 expecting a retest of the previous lows at 13:50000
USDZAR Expected to Move Towards 14.22 in Short TermTrend Analysis
The main view of this trade idea is on the 15-Min . The FX Cross USDZAR has been trading in a rectangular pattern between the 14.33145 and 14.44046 range over the last couple of days, providing an opportunity for a breakout in the FX Cross. Expectations are for USDZAR to break below the rectangular chart pattern to head towards 14.21 zone.
Technical Indicators
USDZAR is trading below its short (25-SMA), medium (75-SMA) and fractal moving averages. Also the FX Cross’s KST has had a negative crossover and its RSI is trading below 50. Also, at the time of publishing the technical strategy matrix has an overall sell in the 15-min, 1-hr, 4-hr and daily timeframe. These technical indicators support the view that USDZAR will decline in the short term.
Recommendation
The recommendation will be to go short at market. Stop loss will be set around the 14.45 price level and a target of 14.22. This produces a risk-reward ratio of 1.31.
Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time publishing, I have a position in USDZAR.
SELL BEARISH USDZARSouth African Rand strengthens over a weak dollar after a week of looting, the Government, especially the eThekwini municipality announced that there will be a financial aid plan for affected businesses and more.
USDZAR SwingLooking to make another sniper entry here.... then scale in.
*Disclaimer*
This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are always key
#Trade_Like_A_Magnate
USDZAR SwingAs anticipated last week, USDZAR did go for a trendline retest, gave us a rejection, we made an entry and held. This is the progress now. Profits have been locked in order to have a risk-free trade.
*Disclaimer*
This is not financial advice. Forex trading is a risky business. Trade at your own risk.
#Trade_Like_A_Magnate
USDZAR SwingThe original idea was posted yesterday.
*Disclaimer*
This is not financial advice. Forex trading is risky. Trade at your own risk.
#Trade_Like_A_Magnate
USD/ZAR short 300 pips!USD/ZAR will have a correction this or next week. Heavy resistance at this level and monthly fib at 15.0267. Market psychology took this pair too highe due to political uncertainty and covid. We are familiar with extended trends with respect to covid. ZAR is heavily correlated with metals and bonds, especially lower yields will be bullish for ZAR, higher base metal value will be bullish for ZAR, but not so much as yields. Technical analysis shows strong resistance and DXY may have a correction soon. Which further supports the claim for bearish USD/ZAR to about 300 pips.
