EUR/ZAR SELLA double top is visible on the graph.
ZAR has been in a downtrend for weeks and is now trying to weaken.
But I think this will not be enough.
EURZAR trade ideas
GO LONG EURZARGiven the current weakness in the South African economy coupled with the robust economic growth in Europe, this presents a great buying opportunity to gain in the Euro (EUR). Taking advantage of this economic disparity can yield favorable returns as the EUR strengthens relative to the South African rand (ZAR).
eurzar is bullish EURZAR is an exotic cross-rate pair, with the highest volatility, which shows the ratio of the euro to the South African rand.
Despite the absence of the US dollar in the pair, it has a significant impact on both currencies. Therefore, to correctly analyze and successfully trade the EURZAR pair, traders should pay attention to such macroeconomic indicators of the US as the interest rate level, the GDP, inflation, The situation in the eurozone and South Africa, without a doubt, should be considered as well. The EUR/ZAR exchange rate is highly volatile, so you can successfully trade the EUR/ZAR pair using short and medium-term trading strategies.
EURZAR400 PIPS full TP hit. 20.50000-20.10000 up for once the pair closes sustainably above 20.50000.
Bravo to the takers.
EURZAR380 PIPS BAGGED! EURZAR has rallied back above 20.0000 and is now trading a few pips below 20.5000 key level; i am expecting a take out of the latter during london session Friday 31 May 2024.
EUR/ZAR BUYEUR/ZAR is moving in a regression band.
We are just touching the bottom, from here I expect the price to go up to the top of the band.
EURZAR analysis on support and resistancethis chart shows EURZAR analysis on 1H time frame using support and resistance..
EURZAR SELLSelling only after the break below the HMA and the retest of the liquidity zone
**This is just my trading thought process and does not constitute as financial advice.
**Please trade with proper risk management*
EUR/ZAR ShortThe South African currency has been weakening for years, but it has already tried to break through the support shown in the picture three times. It may be worth placing a short position up to the lower support.
EURZARThe EURZAR has been retracing for the past week. The pair seems to have found considerable support around the (61.8%-50%) fibonacci levels; Triple bottom pattern on the lower timeframes validates this long position. 21.00000 KEY level is my projected target level.
#EURZAR potential long.I am considering taking a long position on this. My strategy involves waiting for a false break of the support level to occur, which may create some liquidity. Then, I want to see the price break above the support level again, after which I will look to go long on the re-test of the support. To limit my potential loss, I will place my stop loss just below the low point of the false break.
EURZAR645 PIPS IN THE BANK. The pair has completed an impressive 645 pip move. The pair is a few pips shy of the key 21.00000 institutional level.
EURZARThis trade is a success. The EURZAR has rallied over 300 pips since the bounce from the uptrend low. T he pair has hit both take profits @20.60000 and @20.750000. Earlier analysis highlighted the key 21.00000 level as our long term target.
EURZARTP 1 @20.60000 HIT. We now focus on H4 closure for TP2 @20.750000. The pair has traded sustainably above 20.50000 key leve.
EURZARLONG POSITION; TP1 20.60000; TP2 20.750000 The pair has formed a bullish confirmation candlestick in the H1 chart.
EURZARThis is an update to yesterday's post. The pair has formed a considerable support after the fifth touch at support trendline; This calls for long term buy move towards the the key 21.00000 Psychological key level.
EURZARTis is a long term idea on the EURZAR. The pair has rejected support once more for the fifth time; This rejection might give the buyers a chance to close this above 20.50000 for an eventual long term purging of the key 21.00000.
EURZAR - Triangle Breakout or Reversion?EURZAR has been in a recent range and is now testing the upper trend line.
Market possibly pre-empting a negative tone to the South African finance ministers speech on Wednesday.
If the breakout is a fake, there is a high likelihood of it revering to the lower level of the Triangular formation.
EURZAR The pair has retested 20.50000 key level. We would like to see a rally towards 20.65000 level as indicated on the chart.
EURZAREURZAR has hit TP2 as explained earlier. Sustained closure above 20.5000 level takes us higher the levels towards 20.80000.
EURZARThe pair has hit Take profit 1 as explained in my earlier posts about this set up. 20.50000 Key psychological level has been purged. Having seen a close above this level gives the bullish bias more preference going forward. 20.80000 level is open for testing in the upcoming sessions.
EURZARThis is an update to the eurzar long post. The post was made pre-london session open. So far so good.
EURZARSeems like this pair has found meaningful support at the H4 uptrend low. The CPI rally has also been retraced. The exotic pair now aims to trade higher back to the psychological 20.50000 level.
