TRYZAR Symmetrical Triangle. Get Ready for a breakout!Symmetrical triangle usually forms during a trend as a continuation pattern. so there is a higher chance of breaking out to the DOWNSIDE
ZAR
ZAR/JPY 1H Chart: Pair shows signals of reversalThe South African Rand has been appreciating against the Japanese Yen since the beginning of September after the pair reversed from the lower boundary of a medium-term channel at 7.12.
As apparent on the chart, the pair is trading near the upper channel line. From the theoretical point of view, a reversal could occur in the nearest future. Technical indicators for the 1D and 1W time-frames also support bearish scenario. Possible downside targets for the following sessions is the 55-period (4H) SMA at 7.39 and the weekly S1 at 7.29.
It is the unlikely case that some bullish pressure still prevails in the market, the currency pair should not exceed the resistance cluster formed by the Fibonacci 23.60% retracement and the weekly R1 near 7.70.
Target hit. Channel Up continuation. New Long.TP = 15.400 hit, quicker than expected, as the 1W Channel Up (RSI = 57.959, MACD = 0.486, B/BP = 1.1840) aggressively moved towards a new Higher High. Equally aggressively it has pulled back (Highs/Lows = 0) to a new Higher Low on our projected curve support. We have already bought this low and our long's TP is 15.88200.
$USDZARFX:USDZAR
Stuck in the up trend channel but testing bottom of it.
Quite overbought so could be we some some strength for the #RAND here.
USD/ZAR 1H Chart: Bearish in short-termThe South African Rand has been appreciating against the US Dollar for three sessions after the USD/ZAR pair reversed from the upper boundary of a medium-term ascending channel at 15.65.
As apparent on the chart, the US Dollar has reached the weekly R1 at 15.04. In addition, the pair is pressured by the 55– and 100-hour SMAs. These two factors allow to think that the pair could aim for the support cluster formed by the weekly and monthly PPs near 14.45.
Meanwhile, technical indicators flash bullish signals in both the short and long terms. This means that some advance northwards may still occur until the upper boundary of given channel
Yet AGAIN a chance to jump on the USDZAR train!!!!!Set up for another chance on the USDZAR, Lower Low, and a Double top set up on the 30min. what do you guys think?
whatsapp: +27 78 864 5409
1W Channel Up in progress. Long.USDZAR is trading within a very aggressive 1W Channel Up (RSI = 67.499, Highs/Lows = 0.6399) with 1D trying to establish a new support (neutral ADX, Williams, CCI, Highs/Lows) near its Higher Low territory. Even on the event of such pull back, the curve will again support the upside movement. In both cases we are long with TP = 15.400.
[USD/ZAR] Cup & HandleA nice cup and handle pattern has formed on USD/ZAR. Look for a bullish breakout of the handle channel.
USD/ZAR 4hrRefer to weekly chart I posted to see zoomed out fibs. It rejected the .618 retrace after breaking pitchfork (intersecting trend lines).
USDZAR - 08/15Weekly!
As they try and expropriate land in South Africa, so they chase away any Foreign Investment.
Oh, SA is also an emerging market and follows Turkey and other countries!
Vacation to SA anyone?
ZAR/JPY 1H Chart: Rand towards senior channelThe South African Rand began appreciating against the Japanese Yen mid-July when it reversed from the senior channel circa 7.88. The rate peaked at 8.55 a few weeks prior to heading back lower. The Rand is currently testing the 55-period (4H) and 100-hour SMAs near 8.40.
If this support cluster remains intact during the following hours, it is expected that the pair continues appreciating towards the upper boundary of the senior channel circa 8.65.The nearest resistance is the 50.00% Fibonacci retracement at 8.55. A bearish breakout from 8.40 is likely to send the rate down to the 200-period SMA and the monthly PP at 8.23.
This area is expected to cause a reversal to the upside and a subsequent surge. The upward-sloping tendency of technical indicators suggest that the bullish scenario is the more likely option.
