UPDATE - ZARJPY: Confirmation of trendTarget: $6.5
Position: Risk Free
Catalyst: Inflation data from Japan exceeds expectations.
ZAR
USDZAR SHORT TRADEUSDZAR formed head & shoulders pattern
Price rejected from 61.8% Fibonacci of preceding wave at level 14.9555 and confirmed by bearish engulfing candle
Below moving average 100
MACD shows weakness in bullish momentum
RSI reached overbought region
It's expected for coming strong bearish wave to test key level at 14.2780
ZARJPY - Very BearishMoving average crossovers are always interesting, so let’s start there: ZAR/JPY crossed below its 100 and 200 day moving averages yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 100 day average, which is 3.7 pips away. Related to the moving average crossover is that ZAR/JPY may have broken its trend on the 14 day basis, as the trend’s momentum appears to be slowing down. Volatility for ZAR/JPY has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note.
USDCAD ShortPut in your shorts on FOREXCOM:USDCAD it's looking to restest resistance on the lower structure and then we will buy in or buy more! Milk this bad boy to the end
USDCAD WEEKLY Quick analysis of the USDCAD Weekly shows we are in a neutral state attempting and respecting the ascending triangle. Let me know what you think
usdzar sell opportunityhello traders,thank you for looking at my idea. As we can see on the chart above,it seems like price just hit an extreme point but
for a safe entry we will first wait for a pull back then sell the break out of the level indicated.
"USDZAR: Top and Bottom Analysis" by ThinkingAntsOk4H Chart Explanation:
- Price broke the Ascending Trendline and made a Pullback to it.
- Now, it is on a correction.
- If price breaks the correction, potential to move down towards the Support Zones.
Weekly Vision:
Daily Vision:
SA TOP AnalysisI see this as an insight ti what is happening with the South African economy. Lets have a look:
SGL ChannelJSE:SGL is trading in quite a strong upward parallel channel. If it fails to break through the bottom, we can expect that it will head upwards towards the top of the channel.
Possible ReversalJSE:GRT is trading at a previous support level from all the way back in December 2015.
If it fails to break through this level, we could possibly see a retracement or a reversal.
I will keep an eye on this one for a possible long opportunity.
A safe trade on USDZAR!If it is useful for you, support that with your likes/comments and if you have your market view, please share it in comments
also, you can ask me questions...
Have a great day everyone!
Dollar / Rand: Potential Running CorrectionThe 240 min chart has a potential RC and should this be the case we would be headed for a quick move to R14.88 - R15.19.
I would look to buy this chart on a pullback to R14.34 with a stop under R14.24, giving one a 54/10 bet based on the min target level at R14.88 or but on the 240 min close over R14.50 with a stop under R14.45 and this will give one a 44/10 bet (depending on the long entry due to the 240 min close) based on the min target level at R14.88.
love these odds and hope you make a killing!
Giancarlo
USDZAR SELL SETUPUSDZAR rejected from downtrendline and key level 14.5313
Pair is based below HVN at level 14.7587 which indicates power of bears
Price reached overbought region on RSI
MACD shows negative momentum
It's expected for coming bearish wave to test the demand zone near level 13.8640
Symmetrical Triangle on SBKJSE:SBK has formed a symmetrical triangle pattern and we can anticipate a strong move once it breaks out. For now, it's a neutral signal, but the move will depend on which direction the breakout occurs.
USDZAR COMING STRONG BEARISH MOVEMENTUSDZAR bullish correction wave occurred and rejected by broken major uptrendline
False breakout resistance level @ 14.3705
RSI shows negative divergence
Price broke uptrend on RSI
It's expected for coming strong bearish movement targeting the key level @ 13.8840
ABG - Possible bounce off supportJSE:ABG is trading at quite a strong support level. If it fails to break lower, we could be in for an upward move. I will wait for confirmation of the bounce before entering long.
Possible reversal on NPNJSE:NPN is trading at quite a strong resistance level at the moment. If it fails to break higher, the chances are good for a downward move. The stochastic seems to be confirming the trend reversal.
As always, I will wait for confirmation before entering.
$USDZAR FX:USDZAR
Double support on $USDZAR around 14.34
If it gets broken next one is around 14.08 and bellow that around 13.80.
