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EUR/ZAR

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EURZAR trade ideas

EUR/ZAR recaptures 6 April highsEUR/ZAR exchange rate edges higher today after a straight 9-day rally. The South African Rand (ZAR) has struggled to gain against the EUR after South Africa reimposed its lockdown adding an additional night time curfew earlier on in July. South Africa has one of the strictest lockdowns in the world, restricting more or less all outdoor movement and prohibiting the sale of cigarettes and alcohol, which needless to say devastated an already wobbling economy. As the EUR/ZAR currency cross manages to recapture the 6th April highs, small speculators have become very optimistic about future prices for this pair, with 78% of them holding long positions (short term). Euro speculators, in general, boosted their bullish exposure this week to a new record high, according to the latest Commitment of Traders data (COT). Bullish positions increased by over +23,000 contracts, totalling +108,086. What happens at (2) will most likely set the tone for the short-medium term. A convincing break, hold and close above this key resistance level (2) on a 2-3 day time frame would most likely encourage buying pressure. Alternatively a replay of 6th April this year is possible if resistance proves too strong (1a).
by the_short_hustle
6
Sell:EUR//ZAR.....Aiming At A Resistance LevelExotic currencies are currencies that are thinly traded in foreign exchange markets and are not widely used in global financial transactions. Exotic currenrtcies are illiquid, lack market depth, can be extremely volatile, and trade at low volumes.... Exotic currency pairs are made up of one major currency paired with the currency of an emerging economy, such as Brazil, Mexico, Chile, Turkey, or South Africa........... Technically on the Chart...Price aiming at a resistance zone ......which we might see a breakout because we seeing a bullish flag pattern or a sell opportunity to bag in pips down to our support zone.....
Short
by Kiwi-Profit
2
EURZAR: Strong Bullish ImpulsePrice reacted to a DZ with a strong bullish impulse without any pull back, taking out 3 swing high in the process. After such a strong bullish impulse, I am expecting a ABCD pull back to the FZ(Fib 50) or Fib 61.8. Will be looking out for price action in this area to go LONG. DISCLAIMER: Any opinions, analyses discussed in this presentation are just my personal opinion and do not constitute investment advice. I do not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. PRICE ACTION only tell half the story. The other key half is VOLUME. For VOLUME drive price.
Long
by OFPA_FX
EURZAR on a weekly support 🦐The market after retracing till the 0.5 fib level is now putting pressure on the weekly resistance in red. If the market will manage to break and close below the structure we can look for a nice short order according with our strategy with a huge rr. ––––– Follow the Shrimp 🦐 Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Short
by InkyGrip
EURZAR Short PositionsEURZAR is trading in a descending channel, which price seems to be respecting very. Recently, there was a rejection at the resistive trendline and a break of the counter-trendline, presenting an opportunity for bears to short the pair. The first target is the support zone. Be sure to use proper risk management and do not oversize your positions. Be sure to follow me for more ideas and analyses. Leave a comment with your thoughts below, all input is appreciated. Best of luck traders!
Short
by sharaafatm