ZAR
USD ZAR SELL (US DOLLAR - SOUTH AFRICAN RAND)Hi there. Price is forming a continuation pattern to the downside. Wait for the price to hit the top of the pattern and watch strong price action for sell.
EURZAR 1:3 Risk Reward SHORT (Fundamental + Technical Analysis)Zar
Fundamental Quant Score: +33
- Retail sales grew to 1.2% showing consumer confidence in South Africa
- PPI breached forecsats by 0.1% which is healthy for producers
- Interest rate decisions had no signs of dovish action so investor money flow should continue flowing into South Africa
- Trade balance showing a huge surplus
Technical Analysis
- Daily Sell zone
- Daily hammer head/ evening star formation
- Rejection from the current zone shows big money flowing out the EUR and into ZAR
- Wait for a 4HR lower low then a retrace to confirm the move ad possibly enter in that region depending on the fundamentals and technical outcome
Some good signs for ZAR and EUR has continued to weaken the past week
USDZAR 1:4 Risk Reward SHORT (Fundamental Analysis)USD Fundamentals
Fundamental Quant Scores dipped to a negative -3
- Continuuing Jobless claims increased by 6,000 suggesting more US citizens are claiming credit to help support their lifestyle.
- Latest GDP for Q4 showed a less than forecast outcome missing it by 0.2%
- Pending Home sales a huge leading indicator dropped to -1% when forecast to stay above 0
- More gas supplies suggests less capital efficiency and more asset storage, so less vehicles are being used, manufacturing is slowing down and is bearish for GAS which can also affect CAD
ZAR
Fundamental Quant score +33 shows bullish signal
- PPI increased to 0.3% showing South African Producers are bullish of the ZAR
- Interest Rates stayed the same with no signs of change, suggesting investors from abroad can take advantage of their high interest rates.
- Retail sales on 20th grew by 1.2% showing a strong consumer population
Reversal on BidvestJSE:BVT has formed a "open/close above stomach" pattern which is a strong reversal signal.
It works as follows: After preceding downtrend, the second candle opens and closes above 50% of the long red body.
Along with today's upward movement, we can expect it to reach our target at the next resistance level
Usd/Zar BuyHi All ,
Opening a buy on this pair . price is currently stuck at the bottom of the rectangle range , where we have our support line . Bullish engulfing candle H1 .
Many Thanks.
Bullish Reversal on VODJSE:VOD formed a Bullish Harami reversal pattern on Friday.
It has already moved upwards quite significantly today, but will most likely continue to our target level at the next resistance
Bullish Engulfing on TruworthsJSE:TRU formed a bullish engulfing candle pattern on Friday which is a strong reversal signal. We can expect it to go upwards from here.
Reversal on ShopritePossible reversal on JSE:SHP . It formed a bullish harami pattern on Tuesday at a level of support.
The stochastic is also turning up at the moment which is a good sign for a reversal.
USD/ZAR Long Idea - Possible TeacupPlease refer to the linked idea below, which has so far played out well. We now see in addition to this linked trade, a possible teacup. We see price retraced to the 50% key fib level before making an impulsive move to the upside. I am watching for breakout from the handle before considering a buy position to the next key level as noted. Fundamentally, Moody's is set to release it's credit rating of South Africa this Friday, 4/29/19. If the credit rating is downgraded we could see further deterioration of the rand. This idea is for educational and demonstration purposes. Trade at your own risk. Please also refer to the linked trade idea below.
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SLM sideways channel from April '18JSE:SLM has been trading in quite a strong sideways channel since last year April. It is likely that it will bounce off of the bottom of the channel and head upwards.
USD/ZAR: Long Term Bullish scenario !!BUY & SELL Above Given Chart or
You Can Also set Own Risk reward.
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
Possible bounce off bottom of channnelJSE:TBS has been trading in a sideways channel since early November last year.
It is currently at the bottom of the channel and seems to be bouncing off.
We are aiming for the resistance level at the top of the channel.
Usd/Zar Buy more Buy More :) . Everything on the chart you need to follow the trend . )
many thanks.
MTN headed for gap closeJSE:MTN has been trading in a sideways channel since late September 2018. It has now broken out of this channel, having moved up strongly the last few trading days. It is ready for a long position, and the target is the gap close.
Also bear in mind that it could possibly retrace back to the support level and bounce before it goes further up.
RMH Fib RetracementJSE:RMH is in an upward trend and seems to have just finished with a retracement which bounced perfectly off of the 61.8% Fibonacci level.
If my predictions are correct, it should continue in an upward move for a while all the way back to the previous high and possibly even beyond.
Usd/Zar Buy after Pullback !!Hi All ,
I'm going to wait for a pullback and buy . If you use 5mins chart you can get a perfect entry .
current trend (Bullish ) Trending Market.
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USDZAR approaching resistance, potential drop! USDZAR is approaching our first resistance at 6.88562 (horizontal overlap resistance, 61.8% fibonacci extension, 61.8% fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 6.79766 (horizontal overlap support, 23.6% fibonacci retracement).
Stochasticc (55,5,3) is also approaching resistance where we might see a drop.
USDZAR - Daily Key Elements Key levels to watch out for, please refer to our 4 hour chart for a strategic view!
USDZAR Breaking Key Resistance - Big Targets!With the break of the current resistance, USDZAR is set for 15.50 and a possible 17 later this year! The light blue structure indicates a possible formation which will delay the rally but will still be of bullish nature and have the same end result.
