USDZAR possible drop to support level!Currency Pair : USDZAE
Possible direction : Bearish
Technical Analysis : Price has formed multiple liquidity grab on the 4h timeframe after an strong impulse from the resistance level. As long term trend is bearish, highly likely this price will continue to drop to support level
Possible trade recommendation : Bearish as per chart sketch
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USDZAR top-down analysisHello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. 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 possible sell zone!!USDZAR (4h) has formed a very strong bearish price action after a rejection from the weekly resistance. Price currently has formed a strong head & shoulder on the 4H with a breakdown from the neckline. On the retest of the neckline, a sell trade is a high probability after rejection.
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USDZAR Multiple timeframe analysisHello 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.
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USDZAR possible sell zone!!USDZAR (4H) has formed a strong bearish engulfer on the 4H timeframe with a strong breakdown in the direction of the trend. Price action is showing a possibility of to drop in the weekly support from this zone.
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USDZAR is in sell zone, UPDATED!!USDZAR ( 4h) is moving along a downtrend after rejection from the monthly top. Currently, the price has just completed pullback and now creating a possible bearish engulfer which upon close, could create another selling opportunity!
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USDZAR top-down analysisHello 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 Top-down analysisHello 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 Top-down analysisHello 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 Looks Strong Bullish We have seen USDZAR price was falling like Skyfall the last couple of weeks, and all the Bear was enjoying the fall, but now it's Bull time. If you closely see the USDZAR daily time frame, it's already breakout the downtrend channel and creates a good reversal umbrella pattern. Right now, it consolidates the support level, which is good for me for further up. We are expecting to see the price once again 15.20000.
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..
USD/ZAR, we got a clear Breakout of the Range.USD/ZAR was very bearish for the past few weeks, but to be honest, this is a clear trend change in my opinion. We will be monitoring price action and if all the rules of our strategy will be satisfied we will be interested in taking a nice long, with good risk to reward and probabilities for a nice push to the upside.
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.
What do you guys think about this analysis ? USDZARWhat do you guys think about this analysis ?
I think you could buy this this pair all the way up . If you go for scalping or long its going all the way up. The ZAR is only wearing and there is no positive news coming out of South Africa to indicate any future rally against the USD.
PULLBACK OR REVERSER?As i said yesterday, USDZAR will still pullback to give another sell entry.
And can also reverse to break the trendline and continue on a bullish move. It's unlikely that will happen though.
But either way be ready to react to it.
I'm waiting for the pullback and to continue the bearish move.
Look out for structure.