Get started

Usdzartechnicalanalysis

USDZAR Intraday/ScalpYour entry criteria is also your reason for exit. Luckily, our TP was hit and immediately, started forming a falling correction. If this forms in a downtrend, 90% of the time, price is going to reverse. My second confluence is the divergence on my RSI. My third confluence is the 8 & 14 EMA cross over on the M15. Another confluence is the trendline violation. So all in all we had 4 confluences supporting the entry. Another bias here is, the setup is exactly similar to my previously posted setup on Gold. Risk:Reward Ratio is 1:3 *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are crucial. #Trade_Like_A_Magnate
Long
by Magnatrio
4
USDZAR updateI may be forced to change my view of a drop towards 13.20 if the pair fails to close this week below 14.00. A break above the 30-day MA rate of 14.25 will allow the pair to move into a range between the 200-week MA rate of 14.55 and the 61.8% Fibo rate of 14.51. A close above 14.51 will invalidate the move towards 13.20. The MACD indicator is working into a wedge which shows that the rand's run is maturing and their is clear bullish divergence on the RSI indicator. For now we remain in a tentative range between 14.00 and 14.20.
by GustavFourie96
1
USDZAR NEXT POSSIBLE MOVEThe ZAR has been extremely resilient after the Covid19 selloff earlier this year when we saw R19+.the current levels look attractive long term to take USD/Offshore exposure to maintain the technical trend then it will be on sell .Stock markets under fears of new lockdowns due to the rising virus cases The strong Selling on the Stock markets upon the hearing of tax news, is a Bullish mix and it has to rebounce back . Given we are back to levels pre-Covid19 with a poorer performing economy, higher unemployment and debt levels etc..
Long
by TradingSwirls
Year-end USD/ZARMajor resistance for the USD/ZAR pair is expected at 17.27 and a break above this rate will see the forecast range between 17.32 – 17.48 realize year-end. A move into this range is less probable than the zone’s below the major resistance of 17.28. Red zone 1 is expected for August month-end. Red zone 2 is expected for September month-end. Red zone 3 is expected for October and November month-end. Red zone 3 is critical and could be seen as a resistance zone, an upside move out of this range will allow the USD/ZAR to move up into the forecasted year-end range if the resistance at 17.28 does not hold. A failed break above 17.27 will see the USD/ZAR retrace it’s gains and close the year in red zone 3. A failed break above the red zone 3 will see the pair retrace it’s gains and close in the red zone 2, which is at the moment the most likely yearly closing range . Rand strength: The 200-day exponential average, currently at 16.42, is expected to keep the rands’ gains at bay. Rand strength will allow the pair to break this support rate and move the pair into the neutral zone (red zone: 0). A break below the neutral zone will allow the rand to strengthen into “yellow zone 1” between 15.88 and 16.08. The best case scenario for the rand will be a move towards the floor at 15.50, in “yellow zone 2.”
by GustavFourie96
BREAKING: #USDZAR to R24 per US Dollar by 2030The days of gloom lie ahead for the South African economy. Very optimistic for a South African citizen right....? NAH! Let me begin with a disclaimer: firstly I am a proud South African citizen and secondly I'm a Market Technician by profession. My job as a Technical Analyst is to study financial instruments or charts using time tested principles to deduce an understanding of the behavioral patterns of any market historically. I have no choice but to remain objective and true to the laws and principles of my profession because the market doesn't care about how I feel about my country. I want my country to prosper, I want to see the currency strengthen over the years, and perhaps sometimes it will take a simple chart like this that may reach some senior citizens and guide them to make different decisions for a better and stronger economy. Now let's begin. USDZAR is currently trading in dangerous territory below the R18 resistance. The good news is that the bears are at the advantage to defend the R18 price to drive the downward trajectory agenda. The defense of the R18 resistance may see a 20% gain in the South African Rand to around R14 to the US Dollar and failure to defend the R18 price may see the Rand tumble a staggering 33% to R24. Ideally I am expecting a medium term pull back of 20% gains for the Rand to the March 2011 trendline support. The March 2011 support is very dangerous and may set the market on rocket speed to a multi-year depreciation of the Rand of 70% loss against the US Dollar to R24. We should see these movements happen within the decade by 2030. The push to defend the R18 price as well as the 20% gains to R14 in the medium term gives South Africa a fighting chance against the Goliath because it presents the opportunity to even break the March 2011 support for further gains. This is the scenario that I hope to see fulfilled but only time will tell.
by SilasMorerwa
Potential Short-Term Short for USDZAR?I believe we are still trading within the bounds of the daily pennant that formed over the last several weeks. Visible on the chart is the 4H descending Channel I have drawn in as well as the 1H descending channel I have drawn in both of which are currently respected, both falling in line with the daily pennant formation. The purple and orange arrows denote the movements I believe are possible given my technical analysis. Should the red countertrend line I have drawn in be broken correctly I will potentially take a short term short position on the 1H. Beware taking a long term short, given the rate cut that could be coming this week bullish movement is possible should it not already be priced in as yet.
Short
by Papache